StockX, dubbed as the “stock market of things,” achieved a significant milestone in 2019 by surpassing $1 billion in gross merchandise value. Since its inception in Detroit in February 2016, StockX has been on a mission to expand its reach across the globe, with a particular focus on Europe and Asia. The company has strategically set up offices in Tokyo, New York City, and Silicon Valley, as well as authentication centers in the Netherlands and Atlanta to support its international growth. By customizing its services in countries like France, Italy, and Germany, StockX aims to provide an enhanced customer experience in diverse markets.
The efforts put into global expansion have paid off handsomely for StockX, with 30% of its business now originating from international sales. The platform has successfully extended its presence to 197 countries and territories, resulting in over 100% growth in both buyer and seller registrations. Apart from geographical expansion, StockX has ventured into new product categories, such as trading cards, under its collectibles segment. In 2019, the platform witnessed an impressive growth of nearly 200% in luxury and collectibles sales.
Internally, StockX has reinforced its leadership team with key executive appointments, including chief financial, chief marketing, and chief communications officers. E-commerce veteran Scott Cutler assumed the role of CEO in June 2019, leading a workforce of about 1,000 employees worldwide. Cutler is optimistic about the future prospects of StockX, citing the momentum gained in 2019 as a solid foundation for growth in 2020.
In its 2019 progress report, StockX revealed the best-selling brands across different categories on its platform. Leading the sneaker market were Jordan Brand, Adidas, and Nike, with popular styles like the Jordan 1, Yeezy 350, and Air Force 1. Streetwear enthusiasts favored brands like Supreme, Bape, and Kith, while Rolex and Louis Vuitton emerged as top choices in the watch and accessories categories, respectively.
StockX’s achievement of crossing the $1 billion GMV milestone underscores its position as a rapidly expanding e-commerce marketplace. With a strong emphasis on global expansion and product diversification, StockX is poised for continued growth and success in the years ahead.
For more information on StockX’s latest developments and offerings, visit their official website. To stay updated on e-commerce trends and industry news, check out this insightful article on Entrepreneur.
