Shoshy Ciment/Business Insider
Urban Necessities made close to $21 million in sales last year, according to its founder.
- Jaysse Lopez and his wife, Joanie, are the co-owners of Urban Necessities, a sneaker and streetwear resale and consignment company that Lopez says brought in close to $21 million in sales last year.
- Before he found success, Lopez was homeless and had to sell his own clothes to make ends meet.
- Here's the story of how he built a multimillion-dollar company, starting off with just $40 to his name.
- Read details about Lopez's unique business model and how he makes his money here.
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In the sneaker resale world, the story of Urban Necessities founder Jaysse Lopez is scripture.
Wannabee and novice resellers looking to break into the industry - which a Cowen & Co. analysis estimated could be worth $6 billion globally by 2025 - see Lopez as the typification of success in the field. And it's no surprise why.
With two physical stores and a website - bringing in close to $21 million in sales last year, combined, according to Lopez - he is living the sneakerhead's dream, traveling to trade shows, meeting like-minded resellers, and making a killing with his wife and co-owner, Joanie.
But like a lot of people in the field, Lopez didn't find immediate success. Before he formed his business, he spent time homeless in Las Vegas, Nevada, panhandling on the Strip. At another low point, he lived on his friend's couch and in a motel and sold his own clothes to stay afloat.
Eventually, he picked himself up and got serious about resale. And since the success started rolling in, it hasn't really stopped.
"We never really focused on the problems," Lopez said of the early days of his business. "We only focused on the solutions."
But Lopez is more than a standard rags-to-riches archetype. He's a symbol of hope and possibility for other resellers looking to get into the industry.
"I think that the fear of failing is what stops people from learning or trying," Lopez said, later adding: "No two paths are the same."
Here's the full story of how Lopez built a multimillion-dollar reselling empire after having just $40 to his name.