COMPANY FOCUSCOMPANY:StockXFOUNDED:Detroit, USA 2015WEBSITE:stockx.com Collectible sneakers from StockX will now be available on Wallmart as StockX looks to boost its marketplace sales channels with the American retail giant. Started by Dan Gilbert, Josh Luber, Greg Schwartz, and Chris Kaufman in Detroit back in 2015, StockX grew out of a stock market inspired “buy & sell” marketplace concept exclusively for sought after sneakers. With resale sneakers becoming increasingly popular in the mid 2010’s, the idea of creating a platform that was similar to buying actual stock was completely unique for the sneaker market. Raising millions in investment in their “start up” years from the likes of Eminem to Mark Wahlberg, StockX has become to go-to platform for collectible sneakers. Now under the direction of CEO Scott Cutler, who is also currently the senior vice president at Ebay, StockX recently announced that they were partnering with the American retail giant, Wallmart, to boost their marketplace sales channels. Starting from next week, according to Wallmart, sneakers from StockX will be available via walmart.com and the Walmart app. Featuring 100’s of sneakers to start with the plan is to add 1000’s of SKU’s from the StockX platform, alongside handbags, streetwear & trading cards over the coming years. The Walmart marketplace has recently experienced a 30% growth in sales with 255 million customers on a weekly basis, it’s a smart move for the Detroit based sneaker re-sale marketplace. Walmart’s vast customer base — many of which are new to StockX — will get to experience the platform in a way that is convenient for them, “StockX sellers can also reach this built-in audience of loyal Walmart customers without sacrificing their current volumes on StockX, as products will be listed across both platforms at scale, delivering massive demand to StockX sellers. Scott Cutler, CEO StockXSee alsoNews·August 30, 2024Birkenstock Stock Down 10% After Weaker Q3 Sales Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
