StockX, the “stock market of things” that originally started with high-end sneakers and expanded into handbags and watches, is now adding support for streetwear.
Supreme gear is live now in the app, with BAPE, Kith and Off-White coming soon. More than 3,000 Supreme products are already live on the platform. Anyone who creates an account can list an item to sell, and everything is authenticated by hand at StockX’s fulfillment center in Detroit.
While not quite as mainstream as the sneaker market, streetwear is a fast-growing industry with extremely high demand — especially for Supreme gear, which often sells out in a matter of seconds.
Plus, the exclusivity of this gear often makes it hard for the secondary market to price it — which is why StockX’s transparent stock market-like pricing scheme and historical sales list should be pretty popular among customers and resellers.
By adding support for streetwear, StockX joins other companies like Stadium Goods that are trying to cash in by providing an authenticated marketplace for high-demand items.
And the authentication aspect is especially important when it comes to streetwear, which is generally easier to replicate than sneakers. Just yesterday eBay launched an authentication service for high-value items, which shows how much consumers value knowing that their expensive purchase is 100 percent real.
StockX, which has raised $6.5 million to date, also announced that they’re expected to pass $200 million in GMV run rate by the end of the year, which is double the expected number they gave five months ago.