Sports Shoes Trading Platform Stockx Begins To Enter China

According to the world clothing and shoe net, Detroit, famous for its automobile city, is now also the United States.

trading platform

The base camp.

StockX is located in a ten storey modern building in downtown Detroit. Its existing investors include: Quicken Loans founder, NBA Cleveland Cavaliers boss Gilbert Dan, rapper Eminem and actor Mark Wahlberg.

StockX was co founded by Josh Luber and Dan Gilbert in February 2016. Its predecessor was Campless, founded in 2012.

The form of platform presentation and commodity trading are similar to the stock exchange: the registered products are auctioned first and then sold to the highest bidder.

StockX platform has more than 45 thousand pairs of sneakers in real time.

The platform can only trade new sneakers, as well as excellent watches and handbags.

StockX will receive a 9.5% Commission in every sports shoe paction, accounting for 3/4 of its total revenue last year. The commission ratio of watches is 11.9% and handbags are 14.5%.

Although most of Stock X's customers are in the US, there are also stable customers in China.

Like securities trading, the price of all kinds of limited edition or collectable sports shoes fluctuates with the preferences of consumers, most of which are hundreds or thousands of dollars.

This is similar to the Nasdaq stock exchange in Manhattan Times Square. StockX also has a rolling display, which updates the price every time a new paction is completed.

Main platform

Including: Nike, Adidas and Air Jordan, all products have been verified by authenticity. In addition, the handbags of luxury brands such as Chanel, Louis Vuitton and Hermes are also one of the commodities that are traded on StockX platform.

StockX will analyze different brands, such as "Jordan index", "Nike index" or "Adidas index" through data analysis, and summarize the prices of various items.

Josh Luber, founder and chief executive officer of Stock X, said: "StockX is not much different from the stock market. It is a bridge between buyers and sellers."

However, the participants of StockX will not listen to the views of Wall Street analysts. Instead, they will focus on social media Instagram, such as Kim Kardashian handbags or shoes like Kanye West.

Just a few days ago, the price of a pair of Air Jordan 10 Retro Drake OvoWhite was $400.

Eminem also organized activities on the stock exchange to sell a limited edition version of Air Jordan 4 Encore, which was designed to help Detroit communities raise funds and raise $about 200000.

Luber, a former consultant to IBM, said: "selling products at StockX is very simple, registering a StockX account, then clicking the selling button and accepting the highest offer."

Once the offer is accepted, the seller must send the goods to the headquarters of the Detroit stock exchange or other certification bodies in Phoenix, Arizona to verify that the product is not a fake.

Sneaker appraiser Aaron Fields said, "every time I get a pair of shoes, I will smell them, because the glue used by the brands is very special, and the fake shoes don't smell very much."

Michelle Winkfield Winkfield, a handbag appraiser, adds that there are many other details to prove the positive price of goods, such as uneven stitching, double stitches, wrong type lines, poor hardware, and even incorrect brand names.

StockX will punish counterfeit sellers and charge 15% of the paction price, and may prohibit them from trading again.

Luber said that less than two percent of the pactions were cancelled because of fakes.

Initially, StockX had only five employees, including the founder, and now the figure has increased to 115.

In the future, StockX will expand the scope of product categories, and may become a trading platform for Star Wars surrounding, musical instruments, precious liquor, models and works of art.

More interesting reports, please pay attention to the world clothing shoes and hats net.