Headquarters
StockX LLC
1046 Woodward Avenue,
Detroit, MI 48226
United States
Customer Service
Email: support@stockx.com
_____
About StockX
StockX is an e-commerce auction site for sneakers, handbags, streetwear, and other collectible items. The company is based in Detroit and was founded by Josh Luber, Greg Schwartz, Dan Gilbert, and Chris Kaufman in 2015. StockX has established its international offices in the UK and the Netherlands. The website of StockX facilitates auction between buyers and sellers and then acts as a medium for collecting the transaction and payment fees. Once a deal is finalized, the sellers send their merchandise to StockX authentication facilities, and the latter ships the product to the buyer after proper inspection and verification. Counterfeit items are a no-no, and the company returns such items to the seller, and the buyer is refunded promptly. StockX was way ahead of eBay in terms of total sneaker transactions in 2017. The company charges 3% as a processing fee from resellers and levies a 9.5% transaction fee from its new users, which is then gradually decreased with experience. The estimated revenue of the company stands at US$ 166.9 Million.
StockX has carved a niche in the fashion market in just five years. One of the most influential businesses out there, StockX is the go-to place for the most sought sneaker brands, and it offers more than just sneakers. When Venture capitalist, Dan Gilbert, noticed his son pawning shoes with relatively middling success, he was joined by Josh Luber, who found the resale industry less transparent and difficult. The pair then went on to apply the stock market mechanics to the resale market. When businessman Greg Schwartz joined the duo, StockX got launched. The website was an immediate hit, and it later went on to expand to include handbags, streetwear and watches too. In the booming resale market like that of today, where brands on purpose launch limited-edition merchandise and people are ready to spend big bucks just to wear the shoes or flaunt a hoodie, StockX found its niche.
The website is built on similar lines to that of stock market. There are no low quality pictures or a bidding war, and definitely no fake items. It is all rather very simple. A product with a suggested price and an option to buy or sell. One very product page, the user can find data for each transaction that has ever taken place on the item. There are green and red curves which indicate market trend. The trends indicate whether a particular style is going up or down. These trend help the customer to decide on whether to buy or not. The company has authenticated 3.5 million pairs of sneakers from highly sought brand so far and a million of these were done in the first six months of 2020. The shipping cost for the sellers is deducted from their total pay-out. Each seller can access the transaction details along with the fees from the website’s “my account” section.
