DETROIT, Jan. 17, 2020 /PRNewswire/ -- Coming off the heels of a pivotal year for the resale industry as a whole, StockX, the first-ever "Stock Market of Things," announced it surpassed $1B in gross merchandise value (GMV) in 2019 alone and grew global buyer and seller registrations by more than 100%. The two-sided marketplace for sneakers, apparel, accessories and collectibles focused heavily on expanding its global business - specifically in Europe and Asia - and diversifying product categories. To mark the milestone year, the company today issued a report highlighting industry trends and predictions, as well as insights into the company's growth.
StockX, which launched in February 2016, announced last year that it raised $110M in a Series C funding round that valued the company at over $1B. The announcement included the appointment of e-commerce veteran Scott Cutler as StockX's CEO and was followed by news of several key C-suite hires over the course of Q4 2019.
"2019 was a momentous year for StockX," said Scott Cutler, StockX's CEO. "We rapidly expanded our product lines, verticals and global footprint — all to better serve our growing platform and valued customers around the world. As the fastest-growing e-commerce marketplace of its kind, we are committed to leveraging the incredible learnings and momentum from 2019 while remaining focused on, and excited by the significant growth opportunities in 2020."
With transparency and access at its core, StockX today issued a report that recaps the company's 2019 highlights, and provides an in-depth look at the state of the vibrant resale market and predictions for the year ahead. A few highlights from the report include:
- Platform Momentum: StockX surpassed $1B in annual GMV in less than three years since launching in 2016. The company saw its international markets grow to nearly 30% of the business. Fun Fact: European GMV grew more than 200% in 2019.
- Customer Momentum: The company grew its buyer and seller registration base by more than 100% and processed sales in 197 countries and territories. Additionally, StockX powered economic opportunity for hundreds of thousands of sellers around the world. Fun Fact: In 2019, StockX saw 1,200 sales in Luxembourg alone.
- Team Growth: The company ended 2019 with approximately 1,000 team members globally and expanded the executive team by hiring its first-ever chief financial, chief marketing and chief communications officers. Fun Fact: More than 5,200 sneakers were purchased by StockX employees in 2019.
- Vertical Extension: StockX saw sales for the luxury and collectibles categories grow by nearly 200%. StockX also officially launched trading cards as part of collectibles, featuring hundreds of cards across all four major American professional sports leagues including the NFL, NBA, NHL and MLB. Fun Fact: Collectibles is StockX's first category to showcase non-wearable goods.
- Global Operations and Expansion: The company opened offices in Tokyo, NYC and Silicon Valley, and authentication centers in the Netherlands and Atlanta during 2019. Additionally, StockX opened its first permanent brick-and-mortar location in New York City and had pop-up drop-off locations in London, NYC, Los Angeles, Atlanta and Chicago. StockX also leaned into its international growth by localizing in France, Italy and Germany which reduced processing fees and delivery times for its European customers. Fun Fact: StockX added multiple payment methods including Apple Pay, Google Pay, Alipay and Venmo.
- Sales Trends: In terms of market share on StockX, the biggest sneaker brands were Jordan Brand, adidas and Nike and the most popular styles were the Jordan 1, the Yeezy 350 and the Air Force 1. In the streetwear category, Supreme leads the market with Bape and Kith rounding out the top three brands. Rolex maintains the top spot on the list of watch brands moving on the platform and Louis Vuitton is the leading brand in the accessories vertical. Fun fact: StockX authenticated more than 750,000 Yeezys in 2019.
- Brand Collaborations: StockX partnered with leading global brands like adidas to release products directly to the market through a revolutionary Dutch auction method known as a StockX IPO (initial product offering). Fun Fact: In the instance of our adidas Campus 80s MarketLab IPO, bids came in from customers across 62 countries and outstripped product supply 10:1.
For the full report, visit stockx.com/news/state-of-resale.
StockX is proud to be a Detroit-based technology leader focused on the large and growing online resale marketplace for sneakers, apparel, accessories and collectibles. As the world's first "Stock Market of Things," StockX's powerful platform connects buyers and sellers of high-demand consumer goods from around the world using dynamic pricing mechanics. This approach brings unparalleled access and transparency powered by real-time data that empowers buyers and sellers to determine and transact based on fair market value. The StockX platform features hundreds of brands across verticals including Jordan Brand, adidas, Nike, Supreme, BAPE, Off-White, Louis Vuitton, Gucci, Rolex and collectibles from artists including KAWS and Takashi Murakami. Founded by Dan Gilbert, Josh Luber and Greg Schwartz in 2016, the company employs approximately 1000 people in more than 10 offices and authentication centers around the world, and facilitates sales in 197 countries and territories. Learn more at www.stockx.com.