The market for hard-to-find fashion and electronics is heating up with Gen Z and millennials consumers increasingly valuing self-expression and individuality.
And one way for consumers to purchase these rare items is through the secondary market and in particular through e-commerce platforms.
But in a situation where the supply is limited and demand is high, how do consumers determine what is a fair price to pay for the items, and if the product they purchased is authentic?
Well, that’s exactly the work of our guest for today, StockX. Founded in 2016 in Detroit, StockX is a global platform for trading and consuming current culture.
It provides access to high-demand products like sneakers, shoes, apparel, electronics and collectibles that are often unavailable at traditional retailers.
For one thing, its product catalogue consists of over 200,000 products from hundreds of brands including Jordan Brand, adidas, Nike, Supreme, Off-White and Louis Vuitton.
The marketplace also connects buyers and sellers using dynamic pricing mechanics, just like the stock market, allowing users to buy and sell their most coveted items at their true market price. All products sold via the platform will also need to be sent to StockX to be verified for their authenticity and quality before payment is released to sellers.
So far, the firm said it has facilitated over 50 million lifetime trades with an average of 30 million visitors to its platform every month in the year of 2023. Also – which are the top traded and fastest growing brands, and how does the firm navigate its relationships with these brands?
In terms of corporate developments, the company’s valuation jumped to US$3.8 billion in April 2021 after it closed a US$195 million secondary tender offering and an additional US$60 Series E-1 primary shares.
But how is valuation looking like three years down the road, and any IPO plans for private investors to cash out?
On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Greg Schwartz, President & Chief Operating Officer, StockX.
Download the podcast here: https://www.moneyfm893.sg/guest/greg-...

For more, tune in to #TheEveningRunway with Elliott Danker, Timothy Go and Chua Tian Tian every weekday from 4pm-7pm.

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