StockX, the global resale platform for sneakers, streetwear and collectables, reports making 1.8 billion US dollars in gross merchandise value, as it closes more than 7.5 million trades in 2020.
The record growth follows a 275 million US dollar Series E funding round announced in December 2020, led by Tiger Global, which valued the platform at 2.8 billion US dollars post-money.
During last year alone, StockX received 200 million visitors and reported that its global active buyers were up by more than 90 percent year-on-year. The number of active sellers located outside the US in Europe and Asia more than doubled and now accounts for over 30 percent of StockX’s total gross merchandise value for 2020.
There was also a seller acceleration in 2020, added StockX, with more than half (60 percent) of its active sellers in 2020 making their first sale on the platform last year. Community expansion also continued with female users with an increase of 100 percent year-on-year.
Scott Cutler, StockX chief executive, said in a statement: “2020 was a pivotal year for so many reasons; while it made for extraordinary challenges, it also brought unprecedented growth and opportunity as the world shifted almost exclusively to an online commerce experience. Following a 75 percent year-over-year revenue increase in our third quarter, we saw even higher growth in Q4 thanks to a record-breaking holiday season.
“This paradigm shift, and the incredible work of our team to remain open, stable, and strong through the toughest of times, propelled StockX to extraordinary growth in 2020. We’re excited to build on the momentum in 2021 and continue to deliver a next gen experience to buyers and sellers around the world.”
StockX makes 1.8 billion US dollars in gross merchandise value and Jordan retains number one brand status
Based on total trades in 2020, Jordan remains the number one brand on StockX, closely followed by Nike, Adidas, and Converse, mirroring 2019’s ranking, however, New Balance and Yeezy moved up the charts to fifth and sixth place respectively. Kanye West’s Yeezy saw its average price premium increase by 203 percent, with the Yeezy slides surging on the platform by 400 percent.
In the StockX ‘Current Culture Index’ it revealed that the top three silhouettes were once again the Air Jordan 1, the Yeezy 350 by Adidas and Nike’s Air Force 1.
Mid-size apparel brands continued to make waves on the platform, with Supreme holding the number one spot as the best-selling streetwear brand on StockX. Other mid-size brands made major gains including Cactus Jack, which moved up two spots from fourth in 2019 to second in 2020, while Fear of God moved up two spots to third, and Anti Social Social Club moved up 53 spots to sixth on the list. Meanwhile, Bape fell two spots down the list to fourth.
A new category growth area for StockX was electronics and collectables with the platform reporting that sales of trading cards increased by 4,000 percent in 2020. While electronics, the platform’s newest category, saw next-gen gaming consoles rank among the top products on StockX in 2020 based on gross merchandise value.
Image: courtesy of StockX