The reseller platform StockX, which has made its name by reselling limited edition sneakers, is giving some insight into its figures for the first time.
According to the company, StockX has reached a value of more than US$1 billion (gross merchandise volume) and a customer growth of more than 100% after three years of its foundation.
Scott Cutler, CEO of StockX, said: "2019 was a great year. We have expanded our product lines and made our platform even more user-friendly. We are the fastest growing online marketplace of its kind. We want to use the experience gained in 2019 to seize our growth opportunities in the coming year.”
StockX increased its buyer and seller registrations by more than 100% and handled sales in 197 countries. More than 750,000 Yeezys were authenticated in 2019. StockX employs a total of 1,000 people worldwide in six authentication centers.
Sales in the luxury and collectibles categories rose by almost 200% in 2019 for StockX. The company opened branches in Tokyo, New York and Silicon Valley last year. Two additional authentication centers were also opened in the Netherlands and Atlanta. Temporary pop-ups were opened in London, New York, Los Angeles, Atlanta and Chicago. StockX has a strong focus on growth in France, Italy and Germany and has reduced handling fees and delivery times for its European customers and added payment methods such as Apple Pay, Google Pay, Alipay and Venmo.
The most popular sneaker brands were Jordan Brand, Adidas and Nike. The most popular models were the Jordan 1, Yeezy 350 and Air Force 1. In the streetwear category Supreme was the market leader, with Bape and Kith in second and third place. Rolex holds the top spot on the list of watch brands while Louis Vuitton is the leading brand in accessories.