On February 8th, 2016, StockX launched as the world’s first Stock Market of Things. From the very first sale, StockX has provided the best experience for buyers and sellers worldwide. But it’s the users of the platform that have changed the game. Every transaction on the platform contributes to the vast amount of data that’s allowed StockX to communicate information back to the community and make sure everyone gets a fair shot.
As we come together for the new and improved StockX Day, let’s take a look back at StockX’s history and how our customers, with access to authentic products and real-time pricing, are changing the game.
The Big Idea and Growth
Before StockX went live, it all started with the big idea to bring order and transparency to the sneaker game by facilitating our customers to buy and sell products according to stock market mechanics. Of course, the StockX model has always been about more than sneakers, and our growing list of available products shows this.
For StockX’s first 15 months of existence, sneakers were the only products available. In May 2017, our marketplace expanded with the addition of handbags and watches. With the input from our customers, Streetwear would soon follow, becoming the fourth available product category in October 2017. These expansions were significant first steps for StockX to become the “Stock Market of Things.” Every step of the way, we’ve received feedback from customers and watched their behavior so that StockX could expand to where the customer wanted.
Thanks to the enthusiastic support of our customers, we continued to grow. Our catalog expanded to include collectibles and trading cards, closing out 2019. And just in time for the 2020 holiday season, electronics launched on StockX, so that we could meet the demand of customers for products such as the PS5, Xbox Series X, and a range of high-performance graphic cards.
And we continue to expand. This year, we’re continuing to follow the customer and added limited edition art prints to our catalog, ensuring our customers continue to access current culture’s most sought-after products.
Supporting Great Causes
StockX exists at the intersections of culture, community, and commerce. Since the company’s start, we’ve honored this fact by listening to and supporting communities and causes important to our customers. For our very first charity campaign in May 2016, we partnered with Ne-Yo auctioning off select pairs of his sneaker collection in support of National Foster Care Month and the singer’s Compound Foundation.
In September 2017, Hurricanes Harvey and Irma devastated the Gulf Coast, an integral part of our community, so we teamed up with Eminem for the Hurricane Relief Campaign. Eminem and 16 celebrities donated rare and expensive sneakers, inspiring StockX customers to contribute almost $450,000 for relief efforts. In 2019, we partnered with Sarah Andelman to give away 30 pairs of her legendary FF x Air Jordan 1 Retro High colette to support Oceana and ocean conservation. And in May 2020, during the early months of COVID-19, our World Health Organization Charity raised over $300,000 for the WHO.
After almost 20 campaigns and $1.6 million in donations, our community continues to support the most important causes. This impact is felt throughout the world.
Changing the Game, Again
Authenticity and transparency are at the heart of StockX, and our Initial Product Offering (IPO) program has allowed customers to stay in control. Utilizing the Blind Dutch Auction clearing method we’ve facilitated IPOs with Roc-A-Fella Records, Ben Baller, and even LeBron James. Using this process, buyers and sellers were able to dictate fair market prices for limited-edition products. Without an engaged community, these projects would look totally different.
As we continue to scale our IPO and DropX programs, they represent some of the best new tools for consumers in retail today: crazy exclusive goods, top-tier partners, and confidence in paying the right price for the real deal. This is the future of retail, and it’s only possible because of our users.
A Global Marketplace
StockX has never been about focusing on only one type of product or only one market because our customers are more diverse and more sophisticated than a single interest. To better reach our customers and better serve their needs, we are a global company focused on local needs.
We’ve had to grow like crazy the past five years to match our community. Beginning in December 2017, we opened our second authentication center (AC) and have since established ACs throughout the US, from the East Coast, the South, the Midwest, to Southwest, and Pacific Northwest, to make sure our customers get their products and payouts as fast and accurately as possible.
Our customers live all over the globe, and our footprint has expanded to meet them. In October 2018, we opened our first global authentication center in London. Since then, we’ve expanded to the Netherlands to better serve our European customers. Since London, we’ve opened up ACs in Tokyo, Hong Kong, Australia, and Toronto.
But it wouldn’t make sense to cultivate a global footprint if we couldn’t speak the local language. To provide an unmatched customer experience throughout the world, we’ve launched the StockX site in local languages, beginning with Italian in 2019. Over the last two years, the StockX experience is now available in German, French, Chinese, Japanese, with Korean and Spanish coming online this year.
The Current Culture Marketplace
A lot has changed over the past five years, but a lot has stayed the same. StockX remains committed to our customers who are continually changing the game. Every step of the way, from expanding our range of products, making sure to give back and support communities in need, disrupting traditional retail to empower the customer, to becoming a global marketplace, you, our customers, have been leading the way. We’re committed to ensuring it’s always going down in a safe, easy, and secure way. And we’re excited to keep changing the game and access the now, together.