Dropout S.r.l

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City: Milan

State: Lombardia

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Country: Italy

Launched in 2018, dropout is an Italy-based business specialised in the sale of authentic limited edition sneakers and streetwear. With a highly trafficked flagship store located in the centre of Milan, dropout proved a huge success right from the start: over 1000 people attended to the store on its opening weekend, and its doors have seen over 50000 visitors from all over the world. The e-commerce dropoutmilano.com has seen millions of visitors and thousands of sales, guaranteeing authenticity of all products shipped and providing free delivery across EU. To support the business activities, dropout&s;s team have developed a software of technical analysis for the secondary streetwear market, named HypeAnalyzer. In dropout, pricing and marketing are automated and data-driven by HypeAnalyzer algorithms. Output of these also include data for consignment rates (dynamic and affected by things such as volatility and demand, objectively calculated) and discounts. dropout is looking to scale this, simple yet efficient, model, for many other things retail and e-commerce and is currently studying the creation of a portal for investment in sneakers as alternative assets. HypeAnalyzer is covered by commercial patent in Italy (SIAE, D000014993) and dropout® is trademarked at continental level. Initially opened with no external funding, in October 2021 dropout launched its first funding round, raising €750k via equity crowdfunding in a lightning 6 days, following the board approval of an extension of the initial €500k goal (reached in 4 days out of a 62 days campaign). The move will see dropout open a new retail location as well the opening of several temporary locations throughout Italy; improve its e-commerce and the further development of HypeAnalyzer. The campaign saw the participation of 2 Italian VC funds and over 150 retail investors, who join the founding team made of Kola Tytler, Andrea Canziani, Federico Pasquetti and Stefano Zeppieri.

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