Impossible Kicks, the nation’s largest brick and mortar resell brand, closed a $3 million Series-A equity raise. To date, IK has raised $7M in total funding.
Founded in February 2021, IK – which buys and sells high-end sneakers and designer “streetwear” apparel – has scaled quickly and efficiently. The startup luxury goods company operates with zero debt and expects $55+ million in sales in 2022. IK generated $15 million in sales last year.
As of September 2022, the brand supports 15 storefronts across nine states – including California, Colorado, Connecticut, Florida, Michigan, New Jersey, New York, North Carolina, and Texas. Each location offers a carefully curated shopping experience, including:
- The opportunity to look, touch and evaluate their favorite and limited-edition product in an elevated setting
- A certified-authentic inventory of men’s and women’s product ranging from $80 to $50,000 price points
- A competitive refund policy to ensure consumer confidence
This capital will facilitate IK’s continued expansion plan across the United States, which includes two new locations prior to the end of the year and nine additional storefronts in 2023. With an unrivaled brick and mortar presence, Impossible Kicks will also augment its ecommerce and digital efforts, including the development of proprietary products.
“We remain focused on delivering that unrivaled, yet easy-to-access shopping experience for all sneakerheads, collectors or casual consumers,” said Impossible Kicks Co-Founder and Chief Operating Officer John Mocadlo. “This recent funding gives us more buying power and helps us deliver more offerings to our strategic locations and expanding ecommerce channels.”
“Impossible Kicks’ continued growth is inspiring – especially as other businesses and verticals look to retool or modify their approach,” said Impossible Kicks Board Member and Strategic Advisor Andre Peschong. ”They have tapped into consumers’ insatiable appetite for in-store, retail experiences and the importance for reliable, authentic product. The brand and market leading position will only continue to flourish in this new experiential-focused environment.”
