StockX calls itself the world’s first stock market of things. The U.S. company is revolutionizing how limited-edition goods such as hard-to-find Adidas Yeezy sneakers and Gucci handbags are sold online. After careful consideration, StockX picked Brainport Eindhoven to establish its first major hub in continental Europe. “Launching our location in Brainport is really the step to take to grow our business by hundreds of thousands of users in Europe.”
Founded in 2015, StockX is an online marketplace that taps into the growing market for collectible sneakers, streetwear, watches and handbags. The company’s proprietary platform connects buyers and sellers of these products in a revolutionary way. Similar to how stocks change hands on the financial markets, sellers list the minimum price they are willing to accept while buyers place bids. When there’s a match, StockX takes care of a smooth and safe transfer of funds and goods.
The Detroit-based company has attracted a host of celebrity investors including Salesforce.com founder Marc Benioff, rapper Eminem and actor Mark Wahlberg. It reached a $1 billion valuation after its most recent funding round in June 2019. At the end of 2018, the company’s annual gross merchandise volume exceeded $1 billion for the first time. StockX has more than 800 employees, half of whom are based in Detroit.
At the heart of StockX’ operations are its authentication centers. These are large warehouses where goods are received from sellers and prepared for delivery to buyers. To avoid unpleasant surprises, specialist StockX workers check the authenticity, condition and size of each product before they are shipped to their new owners.
The authentication center, which opened in September 2019, is its first in continental Europe.