Rising from the ashes of the sneaker subscription platform KYX World, which disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers has defined a rating system inspired by the sports card grading scheme.
The KYX Rating System assesses sneakers across five components, emphasizing those most visible. “KYX’s mission is to set this system as the industry standard, ensuring that online buyers receive what they expect with the aim of providing a consistent and reliable buying experience,” the Los Angeles-based company said in a statement.
KYX guarantees authenticity using AI technology and human expertise. With all inventory maintained in-house, it also promises same-day shipping.
KYX Sneakers, whose president is Jason McElveen, is supported by consumer venture funds and partners including SeventySix Capital, Rachel Zoe Ventures, Jeff Staple’s RAD Equities, 305 Ventures, Ezra Galston from Starting Line and Scott Keeney/DJ Skee.
KYX Sneakers stems from KYX World, which was launched on June 1, 2021, by Brian Mupo and Steve Dorfman thanks to $1.75 million in seed funding. Despite having raised further funds and launching a redesigned website, KYX World’s founders told employees in November 2022 that the company had run out of money and stopped its activity a month later.
Mupo and Dorfman are not involved in the relaunch, but some original investors, such as RAD Equities, Rachel Zoe Ventures and Scott Keeney/DJ Skee continue to support the project.
In an interview with Footwear News, McElveen said “we acquired the name and assets of KYX in February and have been working on building the new platform ever since.” He added that a soft launch was made in June, and “we’re now ready to shout from the rooftops that KYX is back.”
