StockX Launches in Australia with Melbourne Authentication Center and Enhanced Customer Experience

-- The launch brings lower fees, reduced shipping times, and faster payouts to buyers and sellers across the region --

-- The news comes as new market research reveals 19% of Australian adults have purchased or plan to purchase limited-edition sneakers in 2021 --

News provided by

StockX

May 05, 2021, 11:46 ET

DETROIT, May 5, 2021 /PRNewswire/ -- StockX, the leading global marketplace for high-demand current culture products popular with Gen Z and millennials, today announced the opening of a new authentication center in Melbourne, Victoria. The facility is the company's first in the Australia and New Zealand regions and further strengthens StockX's global footprint, which today includes a network of 11 authentication centers and Drop-Off locations, in addition to offices in Detroit, London, and Tokyo.

Since 2016, StockX customers across Australia have been able to buy and sell on the platform, which today boasts more than 125,000 product listings including sneakers, apparel, electronics, collectibles, and accessories. However, the opening of the new Melbourne Authentication Center unlocks additional customer experience enhancements. Buyers in Australia will see lower shipping fees and shorter shipping times, while sellers will benefit from reduced fees, streamlined shipping, and faster payouts. The new operation also enables bulk shipping for established sellers and All-In Pricing, a proprietary, tech-forward feature that expertly matches Australian buyers with Australian sellers when possible in order to further minimize shipping times and related fees.

"This launch is another example of our doubling down on a commitment to provide an authentic, accessible, and truly local experience to customers across the globe," said StockX CEO Scott Cutler. "Not only does opening our doors in Melbourne make for an improved experience for an already engaged, passionate customer base, but it allows us to further deliver on our customer promise to be the world's leading live marketplace for consumers of current culture."

Australia is among StockX's fastest-growing markets. According to a recent Harris Poll survey, nearly one in five Australian adults (19%) have purchased or plan to purchase limited-edition sneakers in 2021 and among them, 42% say they are motivated by the investment opportunity.^{^[1]}

In just five years, StockX has become one of the leading online marketplaces in the world, processing sales in more than 200 countries and territories and welcoming 30 million global monthly visitors. With more than 1 million lifetime sellers and a growing international customer base, StockX unlocks economic opportunity for people around the world. Learn more at www.stockx.com.

About StockX
StockX is proud to be a Detroit-based technology leader focused on the large and growing online market for sneakers, apparel, electronics, accessories, and collectibles. StockX's powerful platform connects buyers and sellers of high-demand consumer goods from around the world using dynamic pricing mechanics. This approach brings unparalleled access and market visibility powered by real-time data that empowers buyers and sellers to determine and transact based on fair market value. The StockX platform features hundreds of brands across verticals including Jordan Brand, adidas, Nike, Supreme, BAPE, Off-White, Louis Vuitton, Gucci; collectibles from artists including KAWS and Takashi Murakami; and electronics from industry-leading manufacturers, Sony, Microsoft, Nvidia, and Apple. Founded in 2016, the company employs more than 1,000 people in 14 offices and authentication centers around the world, and facilitates sales in more than 200 countries and territories. Learn more at www.stockx.com.

^{^[1]}Source: Survey conducted online by The Harris Poll on behalf of StockX from March 2-4, 2021 among 1,021 Australian adults ages 18 and older, among whom 180 have purchased/plan to purchase limited-edition sneakers in 2021. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

SOURCE StockX