Can this online sneaker store from Hong Kong compete with StockX and Goat? Sneaker Surge co-founders on their booming business and benefitting from a Chance encounter
- The co-founders of Hong Kong-based shoe retailer Sneaker Surge had two choices amid protests and Covid-19 – shut down or go online. They chose the latter
- Business is booming, with company growth of 160 per cent in 2019 and 252 per cent in 2020, despite competition from rivals like StockX, Goat and Stadium Goods
Hong Kong-based shoe retailer Sneaker Surge has had an interesting few years that stretch back to 2019 and the citywide anti-government protests that made it difficult to stock local shops.
“We had to close up shop or go online,” says co-founder Ravine Mahtani. “[We had to] say we are no longer in the sneaker business or say, OK, we know it is going to be a hard road – let’s go online with whatever inventory we have left and see what happens.”
Sneaker Surge chose the latter – and it has not looked back.
“We’re really excited for the next few years and we’re really open,” Mahtani says. “I was always very close-minded that we need to just buy-sell.” And of the future? “Let’s see what happens, let’s explore alternatives.”
Mira Uttamchandani is Mahtani’s wife and the co-founder of Sneaker Surge.