StockX up and running in London
STOCKX, the US online retailer that uses a stock market system to sell trainers, watches, handbags and designer clothes, is to look at opening bricks-and-mortar stores.
Co-founder and chief executive Josh Luber said that the firm, which launched in London last month, will look at offline locations next year. It will also look at adding new product categories, such as art.
Launched in the US in 2016, StockX’s website and smartphone app works like a stock market, but instead of buying shares, users buy fashionable trainers, watches and other items. It matches buyers with sellers, with prices rising and falling according to demand. All items are authenticated by StockX staff before any money changes hands.
StockX’s London office is its first outside of the US and Luber said it will allow it to process and authenticate items locally, reducing the costs and delivery times for UK and European users.