StockX launches its first Authentication Center in Mexico providing enhanced, localized customer experience

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Jan 30, 2023, 10:00 ET

— Immediate benefits include faster shipping and payouts for buyers and sellers —
— New launch grows StockX's global authentication center network to 14 facilities worldwide —

DETROIT, Jan. 30, 2023 /PRNewswire/ -- StockX, a trusted global platform for consuming and trading current culture products, today announced the opening of a new authentication center in Mexico City, Mexico. While customers in Mexico have long had access to the StockX catalog — which today features more than 200,000 items ranging from sneakers, collectibles, and electronics to apparel and accessories — the new brick-and-mortar location enables the platform to provide a range of customer experience enhancements. The 14^th authentication center in StockX's growing global network, the new facility means increased access to local supply and faster shipping for buyers, along with quicker payouts, bulk shipping, and drop-off functionality for local sellers.

StockX launches its first Authentication Center in Mexico providing enhanced, localized customer experience

One of StockX's key differentiators, its comprehensive, industry-leading verification process has long been core to the customer experience. The company's authentication centers function as critical nodes within its global supply chain network. Sellers ship their products to these locations, where they are first verified by StockX authenticators before being sent to a buyer. Globally, on average, more than 1 million products are inspected by StockX authenticators monthly. StockX has opened four new authentication centers since the start of 2021, and the company turned away nearly $100M worth of products that didn't meet its stringent verification standards in 2022 alone.

"The launch of this new authentication center in Mexico signifies our commitment to providing a safe and secure experience to our buyers and sellers around the world," said Greg Schwartz, co-founder and COO at StockX. "Not only does this localized service allow us to meet increasing demand across the region, but it also ensures we can deliver on our promise to be a trusted global marketplace for current culture. We're always working to up our game, and investing in facilities, people, technology, and processes that serve our community will help us build a strong foundation for growth in Latin America."

The authentication center opening is the latest in a series of customer enhancements StockX has introduced in the Mexican market. Since 2022, consumers in the region have benefited from local language and currency, and innovations including All-In Pricing. This proprietary, tech-forward feature expertly matches Mexican buyers with Mexican sellers in order to further improve shipping times and fees, and ensures the company continues to live up to its promise to deliver a best-in-class experience.

"Mexico City is home to a highly engaged community of sneaker and streetwear enthusiasts who already rely on our platform for access to coveted products and brands. That, coupled with the city's rich history in art, music, and culture, made it the perfect place for us to plant roots," said Rodrigo Mazal, Director, Mexico and Latin America. "There is growing demand for the StockX platform across Latin America, and our first authentication center on the ground is an important step in serving our buyers and sellers in the region."

In just over six years, StockX has become one of the leading online platforms in the world, processing sales in more than 200 countries and territories, and in 2022, surpassed more than 12 million lifetime buyers and over 40 million lifetime trades. Since the start of the pandemic, hundreds of thousands first-time sellers started using StockX, and it now has more than 1.5 million lifetime sellers. With a growing international customer base, and a diverse catalog of current culture products, StockX unlocks access and economic opportunity for millions of buyers and sellers around the world. Learn more at www.stockx.com.

About StockX

StockX prides itself on being a leading Detroit-based technology company focused on the large and growing online marketplace for sneakers, apparel, accessories, electronics, collectibles and trading cards. StockX's powerful platform connects sellers and buyers of in-demand items around the world using dynamic pricing mechanisms. This approach provides access and visibility to the marketplace driven by real-time information that allows buyers and sellers to determine and carry out transactions based on market value. The StockX platform incorporates hundreds of brands in diverse categories, collectibles from artists including KAWS and Takashi Murakami, and electronics from leading manufacturers such as Sony, Microsoft, Nvidia and Apple. StockX was launched in 2016, has more than 1,500 employees and 14 authentication centers around the world. To learn more, visit www.stockx.com

SOURCE StockX