In the United States, the sneaker industry has become an estimated 22 billion dollar market since 2013. One of the major factors for it has become the desire to acquire tenis shoes “sneakers” that are extremely rare. The rarity of a sneaker is either valued by their limited production, desire by sneakerheads, collaboration between big companies and artists or simply because they were worn by our favorite celebrities. With the Nike Air Jordan 1 retro being the most reliable investment, there is no doubt that other big companies such as Adidas, Puma, and Rebook are putting in a lot of effort in order to compete with such historic Icon as the Jordan Retro.
Stock X’s CEO Josh Luber, a MBA grad from Emory University Goizueta College of Business has been one of the most iconic sneakerheads since the late 2000’s. Even though he wasn’t a millionaire back in 2013, there is no doubt that his massive sneakers collection caught the attention of many, either through his social media channels or simply his instagram account. Knowing that Ebay made an estimate of 200 millions dollars in 2013 through selling sneakers, Josh along with his two other partners decided to create what we know now as STOCKX. “Mr. Luber, who, like many sneakerheads, speaks of his footwear collection as if it were an ever-expanding portfolio, started collecting at age 10. In 2012, while an analyst at IBM, he founded Campless, a website he described as the Kelley Blue Book for sneakers.”
What makes StockX a multimillion dollar company is its unique business model and platform. The way it works is very easy: you have a pair of sneakers that you wish to sell and if there is a buyer interested in your sneaker he can either bid or click the buy it now option. But that is not just it, the platform also provides a free service where the sneaker will arrive at the Stock X company where a guru or sneakerhead will examine the product in order to determine if it is 100 authentic. That way buyers can be 100 percent sure that the product they are getting shipped from StockX is authentic.
This specific service is what makes StockX shine against its competitors. Another great attribute that StockX members enjoy is being able to receive all the information pertinent to a specific shoe, such as release date, the demand for it and how the sneaker has performed since its release and the date that the buyer is wanting to buy it. It’s because of innovative companies like StockX that people now can have an informed transaction when buying or selling their products.