India, a country known for its diverse cultural heritage, is now witnessing an exciting transformation in the fashion landscape: the rise of sneaker culture. This burgeoning movement is no longer confined to metropolitan hubs but is permeating every corner of the nation. From self-funded startups like VegNonVeg to international giants like Limited Edt, the sneaker revolution is redefining fashion norms and creating vibrant communities around footwear.
According to Statista, the total global sneakers market revenue was valued at approximately $70 billion in 2020 and is expected to reach a value of $102 billion by 2025. Furthermore, for the Indian market, the revenue in the sneakers segment amounts to $1,367 million in 2021 which is expected to grow annually at a CAGR of 24.7 percent.
This rapid growth is fueled by an increasing number of young consumers seeking unique and fashionable ways to express themselves. The influence of global culture, amplified by social media platforms like Instagram, has made sneakers a symbol of individuality and style in India.
PASSION MEETS CULTURE
Founded in 2016 by Abhineet Singh and Anand Ahuja, VegNonVeg has rapidly become a cornerstone of India’s sneaker scene. Initially a passion project, the brand was born out of a love for sneakers and streetwear. Abhineet Singh recalls the early days: “It really started off as a passion project for both of us.” This genuine enthusiasm laid the foundation for VegNonVeg’s unique identity.
VegNonVeg distinguishes itself through meticulous curation and a deep connection to culture. “Everything that we have on our shelves has a story,” Abhineet explains. From art to music to sports, each product carries a narrative that resonates with its audience. This “culture to-commerce” approach emphasizes not just selling products but also fostering a deeper understanding of their cultural significance.
This story is from the May-July 2024 edition of Retailer.
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This story is from the May-July 2024 edition of Retailer.
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