StockX, the online reseller for sneakers and other cult products, said it recorded $1.8 billion in gross merchandise value (GMV) in 2020, which compares with about $1.0 billion in the previous year. It concluded more than 7.5 million trades. More than 200 million people visited the marketplace, and the number of global active buyers rose by more than 90 percent. The platform’s lifetime GMV is now standing at $3.8 billion.
Some 60 percent of StockX’s active sellers in 2020 made their first sale on the platform. In addition, the number of sellers located outside the U.S. more than doubled in 2020, and accounted for more than 30 percent of StockX’s total GMV for the year.
In the U.K. and Germany, the online reseller reported increases of 150 percent and 245 percent, respectively, in buy-side trades between 2019 and 2020. There were 260 percent more buyers in France.
The report came a few weeks after StockX raised an additional $275 million in a Series E funding round that values the Detroit-based company at $2.8 billion. StockX says its sales were up by 75 percent to more than $100 million in the third quarter, leading the company to achieve break-even results.
Along with this update, StockX also released a new report titled ”StockX Snapshot: Current Culture Index,” which highlights trends across the footwear, apparel, collectible, and electronics categories for 2020 and beyond.
One of the main trends of the past year was, of course, the shift to e-commerce due to the Covid-19 pandemic. Following a 75 percent year-over-year revenue increase in the third quarter, the group saw even higher growth in the fourth quarter, with a record-breaking holiday season.
Last year, the Top four sneaker brands on StockX were Jordan, Nike, Adidas and Converse. All of them had also been at the top of the ranking in 2019. New Balance moved up one spot to No. 5 in 2020, while Yeezy, Kanye West’s independent brand, reached the No. 6 spot on the list, compared with No. 10 in the previous year, boosted by the growing trend for comfort wear. Meanwhile, the top three silhouettes of 2019 retained their spot in 2020: the Air Jordan 1, the Yeezy 350 by Adidas and Nike’s Air Force 1.
Among the apparel brands, Supreme remained the best-selling streetwear brand on StockX, followed by Cactus Jack, which moved up two spots from No. 4 in 2019, and by Fear of God (No. 5 in 2019).
In 2021, StockX identified sustainable sneakers as one of the main trends, along with a rise in mid-size apparel brands such as Fear of God and Cactus Jack. It also believes that the European craze for the Jordan 1 Mid silhouette will make a transatlantic journey to U.S. shores in 2021.
The company started four years ago as a marketplace for sneaker collectibles. It recently expanded into streetwear, accessories and other collectibles including video games such as the newly released Xbox Series X and the Playstation 5.