StockX: Financial Trade applied to your clothings, shoes and gadget

While StockX was initially a platform to buy and sell deadstock sneakers, its product offering has grown to include apparel, watches, handbags, and accessories.

StockX was founded in 2015 by Josh Luber, Dan Gilbert, Chris Kaufman, and Greg Schwartz. After 7 years StockX is bigger than the entire resell market was in 2015.

It’s a testament to the fact that StockX worked and it helped grow the market and the market itself also has been growing.

Think different, Play different, Sell different

Ex Ceo Josh Luber highlights that StockX's limited foray into product releases have proven successful, serving as a revolution in the way people buy and sell product.

StockX's approach mirrors the stock market in efficiently determing fair prices based on supply and demand.

The releases have resulted in products sold at a higher price then retail but lower then resell, with an equitable distribution for all buyers.

In order to be asuccessful, multi-vertical marketplace in today's world, it's important to focus on being a collection of local niche marketplaces, rather then just being a one-size-fits-all platform like eBay and Amazon were 20 years ago

StockX is adapting this approach by providing local content for different regions and by having specific content for different product categories, such as sneakers and handbags.

StockX could be seen as an alternate tool for brands to control product releases, as opposed to being seen as an alternative retail channel. Similar as Supreme did in the past, having 10-20 products "IPOing" on StockX every monday, becoming a normal part of the release flow, instead of being released at a retail price or through a drop.

This could bring out a significant change in the current retail landscape. The IPO may be done online or as physical event.

But how have StockX convinced rich customers to place extremely expensive bid for their loved products? AUTHENTICITY, SAFENESS AND PROFESSIONALITY.

They have rejected almost $400 millions in products that didnt meet the authentication standards, StockX has 11 suthentication centers and more then 300 employees worldwide.

StockX's selling point is its guarantee of authenticity for all product sold on its platform, backed by its in-house authentication teams, These Squads operates from StockX's American and European headquarters in Detroid and London.

At present, StockX employs over 300 trained verifiers who work hand in hand with nearly 200 additional supporting team members, from knowledge managers to quality assurance specialists.