In Trends

StockX sells more than $1bn in GMV in 2019

StockX

U.S. streetwear marketplace StockX said it surpassed $1 billion in gross merchandise value (GMV) in 2019, growing global customer registrations by more than 100% during the 12-month period.

SEE ALSO : StockX raises $110m for mass expansion, names new CEO

“2019 was a momentous year for StockX. 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,” said Scott Cutler, StockX’s CEO.

By geographic market, StockX saw its international sales grow to nearly 30% of the business, with European GMV increasing more than 200% in 2019.

By category, sales for the luxury and collectibles categories grow by nearly 200%, while the biggest sneaker brands were Jordan Brand, Adidas and Nike, with the most popular styles being the Jordan 1, the Yeezy 350 and the Air Force 1.

In the streetwear category, Supreme led the market with Bape and Kith rounding out the top three brands for sales in 2019.

Meanwhile, Rolex held the top spot on the list of watch brands and Louis Vuitton was the best-selling brand in the accessories vertical.

Detroit-based StockX, which started out in 2016 as reseller off sneakers, announced last year it had inked $110 million in a Series C funding round, putting the company’s valuation at over $1 billion.

At the same time, the online platform appointment e-commerce vet Scott Cutler to CEO and added several other important C-suite hires over the course of the fourth quarter including its first-ever chief financial, chief marketing and chief communications officers.

SEE ALSO : Australian streetwear retailer General Pants to enter New Zealand

The U.S. company today has offices in Tokyo, New York and Silicon Valley, as well as authentication centres in the Netherlands and Atlanta. StockX also operates a permanent brick-and-mortar location in New York and has held pop-ups in London, New York, Los Angeles, Atlanta and Chicago.

Follow Retail in Asia on Facebook, Twitter and LinkedIn.

Get our top stories delivered to your inbox:

 

Stay ahead
Subscribe for free!
Register now
Stay ahead