Stockx Sneakers: Remember the old adage, “Find a job you love and you’ll never work a day in your life,” and it’s safe to assume that YouTubers, “Plandid,” and the like predate the stock market. StockX may be a multi-million dollar giant with a huge influence on sneaker culture today, but it turned out to be a personal hobby business plan.
For founder Josh Luber, separating his love of sneakers from his career was a conscious decision at first. As he continued to invest in his passion, he noticed something sorely missing from corporate offices in sneakers. When he dug deep into the numbers and dove in, a completely different scenario emerged. After a game of basketball, check and trade, StockX was born.
The timeline was very successful. Over the past decade, sneakers have gone from trendy to edgy, and the demand for authentic items has grown. Very few companies have put in place the basic policies necessary for a marketplace to function effectively for this category. What started as a basic pricing scheme for online sales with more hype than a Microsoft Excel unicorn has now become one of the most exciting marketplaces in the world. Stockx Sneakers
Before founding StockX, Josh Luber was a consultant at IBM, intentionally working as a hobby outside of sneakers. This arrangement continued until he realized an opportunity to organize information around his favorite collection.
Markets are not priceless and ten years ago it was difficult to understand the value of sneakers on the secondary market. Of course, there is a retail price, but popular sneakers often gain value based on demand, which fluctuates wildly over time. By gathering publicly available data on more than 13 million eBay transactions, Luber and a team of 17 volunteers created the Secondary Market Evaluation Guide, which Campless launched in 2012.
“Even though it had a lot of flaws and required a lot of manual work, it was probably the best suggestion at the time,” said Greg Schwartz, COO and founder of StockX. Campbell’s team pulled prices from closed eBay auctions and analyzed trends like any seller would before listing their boots. By expanding the size of the database, they achieve more accurate market clearing prices for buyers and sellers.
Similar to the auto industry’s Kelly Blue Book, which provides estimated car prices by model and year, Comply’s offered deep numbers in the crossover aftermarket that eventually became StockX’s umbrella and real estate offering. Stockx Sneakers
The chaotic rise of helicopters and sneakers in shopping malls
When Luber and his team launched Campless, there was no way to buy limited-edition sneakers. Enthusiasts queue up from seller to seller, shop around, search eBay for the most legitimate seller at the best price, or buy through an outlet or door to door to get their prized pair. All three options have been completed.
The Campless name and slogan, “Learn more, without camping” refer to consumers camping out — sometimes for days — in search of the latest and hottest sneakers. Launched in New York in 2005, Flight Club initially carried vintage shoes rather than new pairs. For individual sellers, eBay and Craigslist are the only options for setting up transactions as they see fit, and lack the necessary guarantees to authenticate sneakers or control prices.
This fragmented system fits a relatively small niche in the market. However, it has gained popularity since the 1980s and increased in scale in the 2010s.
In a 2014 interview with eBay, Luber shared the significance of this era, which brought popularity to the footwear category: In February 2012, NBA All-Star Weekend Nike released the “Galaxy” sneaker with a basketball portion. Likes LeBron James, Penny Hardaway, Amar’e Stoudemire and Kevin Durant. A sky-themed backpack worn by giants.
Reliable sneaker blog Sole Collector called the release “one of the most chaotic sneaker releases of the last decade” as it “caused chaos across the country as sneakerheads clamored to get their hands on a pair.”
24-year-old sneaker enthusiast Mark Sabino says: “I remember the first time I heard people talking about ‘getting out of the house’.
Andy Oliver, director of e-commerce for the sneaker and streetwear brand, also sees it as a turning point. “I think it was the perfect combination of the model — the bubbles were hot — with the graphic treatment that was unique for the time. And then, in terms of marketing, it tied in with All-Star Weekend, which was a huge deal in 2012.
Brendan Dunn, host of Complex Media’s full-size sneakers, said the release set a new standard for confusion and hype. “I think the image of helicopters flying over the Orlando Mall is a sustainable image.”