South Africa - Startup under 3 years old

Describe your project or startup in a few words

RareStep connects South Africans to the global sneaker culture, our platform offers new and pre-owned exclusive Nike, Yeezy and Air Jordan sneakers sourced locally and worldwide, authenticated with precision, and fosters sustainability in every step.

01.01 Describe your startup in more detail

RareStep serves as a groundbreaking platform, linking South Africa's burgeoning sneaker community to the global sneaker landscape, with expansion plans to encompass the entirety of Africa. Through strategic collaborations and alliances, we meticulously curate a portfolio comprising authenticated, exclusive, and limited-edition sneakers sourced from across the globe. Unlike established global players like StockX and GOAT, whose footprint in Africa remains negligible, we possess an intimate understanding of the local market dynamics, addressing the glaring gap in accessibility to coveted releases. In Africa, the dearth of options in local secondary markets and the scarcity of desired sizes pose persistent challenges for sneaker aficionados. RareStep transcends borders, granting unparalleled access to coveted sneakers, democratizing culture, and fostering sustainable growth in Africa's resale market.

01.02 What is the main problem you are trying to solve?

RareStep tackles two crucial issues head-on: accessibility and trust in Africa's secondary resale market, and the environmental challenges stemming from overproduction in the traditional sneaker industry. In Africa, accessing authentic and sought-after sneakers is often challenging, leading to consumer frustration and market distrust. RareStep addresses this by becoming the trusted destination for sneaker enthusiasts, ensuring authenticity and accessibility. Through strategic partnerships, we bridge the gap, empowering consumers to indulge in their passion confidently and fostering a vibrant sneaker culture across the continent. Meanwhile, the sneaker industry globally grapples with overproduction, resulting in environmental degradation and waste. RareStep champions a circular economy model to fight this. Leveraging our Omni-channel sneaker marketplace, we import authenticated, exclusive, and limited-edition sneakers from regions with oversupply to African markets with limited access

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

RareStep offers a premier destination for sneaker enthusiasts, providing exclusive benefits: a. Curated Collection: Access authenticated, exclusive, and limited-edition sneakers sourced globally and locally. b. Authenticity Assurance: Trust every pair with rigorous authentication and a lifetime guarantee. c. Sustainability: Embrace a circular economy model with pre-owned sneakers, reducing environmental impact. d. Diversity & Inclusivity: Connect with the global sneaker scene, celebrating diversity and inclusion. e. Community & Insider Access: Join a passionate community, gaining insider access to rare releases and collaborations. f. Convenience: Enjoy seamless browsing and purchasing, bringing the sneaker world to your fingertips. RareStep offers more than just sneakers; we offer a lifestyle built on authenticity, sustainability, diversity, and community. Join us on this journey and experience the thrill of sneaker culture like never before.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

RareStep's platform is a haven for individuals seeking more than just shoes; it's a gateway to a global community, a commitment to environmental responsibility, and a celebration of diversity. Our platform caters to: Sneaker Enthusiasts: Passionate individuals craving access to authenticated, exclusive, and limited-edition kicks from global releases. Fashion Forward Consumers: Those who view sneakers as expressions of personal style and identity, seeking unique and culturally significant designs. Sustainable Consumers: Committed to reducing environmental footprint, they opt for pre-owned sneakers, contributing to the circular economy. Future Generations: By promoting responsible consumption and environmental stewardship, we pave the way for a more sustainable and equitable world. RareStep isn't just a marketplace; it's a movement towards a more interconnected, sustainable, and inclusive sneaker culture.

01.05 When was your company established?

2023-03-08

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

2

01.08 Among the other owners, how many are female?

0

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Michael Zahariev and Luke Calitz, our visionary non-executive co-founders and investors, are not only the co-founders of Luxity, a prominent pre-owned luxury marketplace in Africa, but also have a deep understanding of the circular economy. Thier leadership at Luxity and B Online, where they serve as a co-founders, has equipped them with invaluable insights into the resale industry and sustainability initiatives. Luke's commitment to circular economy and in-depth understanding of the pre-owned luxury space guides RareStep's mission, shaping our approach towards promoting sustainable consumption practices and environmental stewardship. Michael, our Technical Co-founder, leverages his expertise in technology and innovation to drive RareStep's technological advancements and operational efficiency. With a proven track record in developing tech-driven solutions at B Online, Michael ensures RareStep remains at the forefront of digital innovation in the sneaker marketplace landscape.

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://rarestep.co.za/

01.11 Which industry best describes your project?

e) Secondary commodities (cars and parts, consumer durables and apparel, retail)

02.01.01 My startup contributes to the No poverty goal

1 - Strongly Disagree

02.01.02 No poverty - Justification for my startup

02.02.01 My startup contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

1 - Strongly Disagree

02.03.02 Good health and well-being - Justification for my startup

02.04.01 My startup contributes to the Quality education goal

4

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification for my startup

02.06.01 My startup contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

RareStep significantly contributes to Sustainable Development Goal 8: Decent Work and Economic Growth through: Job Creation: Generating employment locally and globally across various sectors. Entrepreneurship Empowerment: Providing opportunities for entrepreneurs to thrive in the sneaker resale market. Ethical Practices: Prioritizing fair labor standards and ethical business practices. Skill Development: Investing in team member training and capacity building. Fair Trade Advocacy: Promoting transparent and equitable relationships within the supply chain. SME Support: Partnering with SMEs, enabling them to compete and grow in the global market. Economic Resilience: Offering stability and income during economic uncertainties. RareStep fosters economic growth while championing decency, fairness, and sustainability. Join us in shaping a future where economic prosperity is inclusive and sustainable for all.

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

RareStep is a driving force behind Sustainable Development Goal 9: Industry, Innovation, and Infrastructure, contributing through: Technological Innovation: Pioneering advancements in the sneaker marketplace landscape through cutting-edge technology and digital solutions. Supply Chain Optimization: Streamlining operations and logistics to enhance efficiency and reduce environmental impact. Market Disruption: Disrupting traditional industry norms with innovative approaches to authentication, resale, and sustainability. Infrastructure Development: Investing in robust infrastructure to support a seamless browsing and purchasing experience for users. Partnerships and Collaboration: Collaborating with industry stakeholders to foster innovation, share best practices, and drive collective progress. RareStep is at the forefront of industry innovation, transforming the sneaker marketplace while driving sustainable growth and development.

02.10.01 My startup contributes to the Reduced inequalities goal

4

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

1 - Strongly Disagree

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification for my startup

RareStep is committed to advancing Sustainable Development Goal 12: Responsible Consumption and Production, making significant contributions through: Circular Economy Model: Promoting a circular economy by facilitating the resale of authenticated, exclusive, and limited-edition sneakers, extending their lifespan and reducing the need for new production. Sustainable Practices: Advocating for sustainable consumption practices by offering pre-owned sneakers, minimizing waste, and conserving resources. Environmental Stewardship: Prioritizing environmental considerations throughout our operations, from sourcing to shipping, to minimize our carbon footprint and promote eco-friendly practices. Transparency and Accountability: Upholding transparency and accountability in our supply chain, ensuring ethical sourcing and fair labor standards. We're leading the way towards responsible consumption and production in the sneaker industry, driving positive change towards a sustainable future.

02.13.01 My startup contributes to the Climate action goal

1 - Strongly Disagree

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

1 - Strongly Disagree

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification for my startup

RareStep embodies Sustainable Development Goal 17: Partnerships for the Goals through strategic collaborations, community engagement, and knowledge sharing: Strategic Partnerships: We partner with key stakeholders across the sneaker industry, including brands, retailers, authentication experts, and sustainability advocates. These collaborations enhance our authentication processes, expand product offerings, and promote sustainability initiatives. Community Engagement: Active engagement with our users, suppliers, and partners fosters dialogue, gathers feedback, and co-creates solutions. Open communication builds trust, strengthens relationships, and drives continuous improvement. Knowledge Sharing: Collaborating with industry experts, researchers, and thought leaders enables us to exchange insights, best practices, and emerging trends. This collective intelligence fuels innovation and informs strategic decision-making.

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

7 - Strongly Agree

06.02 The product/service represents an entirely new type of product/service.

4

06.03 The product/service could be described as a new technology.

4

06.04 The product/service is an improvement on an existing product or service.

7 - Strongly Agree

06.05 The product/service could be described as an extension of a range of products or services.

7 - Strongly Agree

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

4

06.07 The product/service is a new version of an old product/service.

5

06.08 Justification for my startup

Market Familiarity: RareStep benefits from an existing customer base familiar with similar platforms, providing a solid foundation for growth and adoption. Product Enhancement: RareStep introduces innovations to the sneaker marketplace model, offering improved authentication, expanded product offerings, and sustainable practices. Expanded Product Range: RareStep extends the concept of sneaker marketplaces by curating authenticated, exclusive, and limited-edition sneakers from global sources. Innovative Iteration: RareStep represents a new iteration of sneaker marketplaces, integrating advanced technology, sustainability, and community engagement.

06.09 Competitive Analysis

RareStep stands out from traditional South African retail stores like Court Order, Plug & Play, The Backdoor, and Storey CPT through our innovative on-demand sourcing model. Unlike these stores, which typically buy and hold large inventories without prior indicators of customer demand, RareStep operates on a dynamic on-demand model. Moreover, while Court Order, the largest marketplace, holds most of their inventory on consignment for suppliers, RareStep operates differently. While Court Order receives only 17.5% commission on new pairs and 22.5% commission on preowned pairs, RareStep achieves upwards of a 40% gross margin through our on-demand sourcing model. This approach not only reduces costs but also allows us to offer competitive pricing to customers. Additionally, our on-demand model enables us to acquire a wider size range and greater variety of pairs than any other store in the market. This ensures that RareStep customers have access to the latest releases and rare finds.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?