While the market for alternative forms of investments is growing and cryptocurrency and NFTs are seen as the primary examples of it, another example which is very popular as a form of investment are sneakers. This is a market that is booming and has incredible potential and there are some visionary people at its helm.
Kola Tytler and Stefano Zeppieri are the amongst the founders of Dropout. Kola is a 27-year-old son of Nigerian immigrants who studied medicine at King’s College London. Stefano is only 23 years old and he is a software engineer who’s based in Rome. Kola and Stefano met online and their minds connected, soon realizing that they also shared a vision for a business.
Kola and Stefano were able to work out the missing elements in the sneaker market and the models of sneakers which are most popular and in demand. Using data, the two started their business called Dropout. Since 2018, it has focused on the sale of purely authentic and legitimate limited-edition sneakers along with streetwear.
Dropout has a flagship store in Milan, Italy, and Kola and Stefano have also set up an e-commerce store that has seen millions of visitors and thousands of sales since its inception 3 years ago. Dropout guarantees authenticity of all the products it sells and offers free deliveries across the EU.
To go with their business, they have developed HypeAnalyzer, a software that uses algorithms to define aspects of the operationssuch as products and sales account margins, prices, discounts, shop windows displays and more. Using data, Kola and Stefano determine whether or not the objects they are displaying or selling at the time are of any particular interest to people. This makes their work more efficient and more accurate.
Sometimes people may not trust the legitimacy of online products. However, Kola and Stefano promise their patrons that their products are legitimate via expert and systematic authentication of anything they sell (and buy). They can just walk into their physical store and buy them. If not, their online store is always a few clicks away from the comfort of their living rooms.
Kola and Stefano mention the importance of being able to understand, and being able to anticipate, the turns of the marketwhere one operates. AI-driven tools like HypeAnalyzer are useful for giving objective guidance and spotting trends just before they become obvious to the wider public. As for the future, Kola and Stefano want to expand their business further and want to be known as one of the strongest Italian brands when it comes to streetwear and sneakers. They have recently closed a funding round which puts Dropout’s evaluation at $2.6M.