Fashion e-commerce company BrandAlley has acquired a majority stake in fellow U.K.-based sneaker marketplace The Edit Ldn. The terms of the deal were not made public.

“Whilst we had another year of growth on the back drop of a difficult economic climate impacting the big players like Farfetch and Matches, 2023 was a challenged [sic] year for many and that included us,” wrote The Edit Ldn founder and CEO Moses Rashid on LinkedIn.

“Some very difficult decisions had to be made so please know there was nothing glamorous about how we got here.”

He added that the company was looking forward to working with BrandAlley chief executive Rob Feldmann, CCO Ray Clacher and the executive team.

Writing on LinkedIn, Clacher said, “It is great to finally bring The Edit Ldn into the BrandAlley family. It’s always [a] pleasure to be in retail when it’s fun and working with Moses on this transaction has been a joy! 2024 is going to be an exciting journey!”

Founded by Rashid in 2020, The Edit Ldn connects investors and owners of limited-edition sneakers and high-end streetwear with buyers. Jordan, Yeezy, New Balance, Travis Scott, Dior, Off-White, CPFM, KITH are among the brands traded on the site.

In 2022, the company launched a dedicated secondhand marketplace, prior to which its used-sneaker business line was part of its main offering.

According to the sneaker marketplace, its revenue rose by more than 500% in 2022. Its clients have included Harrods, Galeries Lafayette, Harvey Nichols, Soho House and Threads Styling.

Sneakers and clothing listed on the site are authenticated before sale.

According to The Edit Ldn, it was the first sneaker marketplace to offer same-day delivery in the U.K.

In January 2023, the company secured $4.8 million in a seed funding round that it was planning to use to step up its international expansion. Five new countries were slated to join the roster in 2023, with the U.S. and the Middle East and North Africa region then its top priorities.

The funding round was led by New York-based Regah Ventures, with participation from a number of high-profile athletes, including New York Giants captain Xavier McKinney, NBA player PJ Tucker and Premier League soccer player Jesse Lingard.

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