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If you ask me, the biggest pain point when it comes selling and purchasing resale of the most sough-after sneakers are the additional shipping fees. But thankfully streetwear marketplace StockX has recently (and finally!) launched its expansion in Canada, with the opening of its authentication centre in Toronto.
The news comes as StockX continues to see extraordinary growth in Canada, with sales from Canadian sellers up 155 per cent year-over-year. With a new team on ground of early 20 professional authenicators to help serve the growing user of Canadian customers, the expansion calls for a number of significant improvements to the local user experience including increased access to local supply, lower shipping fees and shorter shipping times, while sellers will enjoy reduced shipping costs and faster payouts.
“StockX has an incredibly passionate customer base in Canada, and putting a stake in the ground in Toronto enables us to more fully deliver on our customer promise for our neighbor to the North,” said Scott Cutler, StockX’s CEO. “As the world's leading marketplace for consumers of current culture, this exciting launch will unlock economic opportunity for an already active and incredibly vibrant community of enthusiasts and will empower even more Canadians to engage with our platform.”
The e-commerce platform is also introducing All-In Pricing in Canada, which will allow the company to significantly reduce fees from import duties by matching Canadian buyers with Canadian sellers. Yup, that means less surprise “at the door” charges from carriers by automatically including applicable duties in an item’s original cost. Of course, this all comes with the convenience of worry-free purchasing. The new team works to authenticate sneakers, streetwear, and collectibles at the time of launch, with plans to add other growing categories on the platform like watches, handbags, and electronics over time.
"Authentication is at the core of the StockX experience and has long been a key differentiator for the platform,” said Jimmy Vannavong, the GM of StockX Canada. Each and every product bought and sold on StockX is expertly examined by our team of in-house authenticators each of whom is armed with a robust database of proprietary information, gleaned from years of experience in the field, to effectively assess the legitimacy of each product. We’re thrilled to further expand our global footprint with the addition of a brick-and-mortar centre in Toronto, and to bring a heightened level of service to an active community of buyers and sellers.”
So why now? Despite the global pandemic, StockX’s diverse and global marketplace enabled the company to remain strong and stable throughout 2020, surpassing $2.5 billion in GMV in June.
According to a recent survey by research firm Piper Sandler, StockX is one of the most popular brands among Gen Z and ranks among the top five most popular websites overall for upper-income Gen Z male. What’s even more exciting is that platform continues to see rapid growth among female users. In the first half of 2020, StockX sales of women’s exclusive sneakers outpaced the overall market by 70 per cent. In Canada, the number of female StockX users has doubled year-over-year, and sales of women’s exclusive sneakers to Canadian buyers has increased 330 per cent.
While StockX Canada’s top selling products of the year include, Air Jordan 1 Mid Chicago Toe, Air Jordan 1 Retro High Court Purple White and Air Jordan 1 Retro High Black Game Royal Toe, Canadian sneakerheads aren’t straying away from exclusive collabs. From Yeezy’s to rare Crocs to Nike x Off-White’s, below, we’ve listed the top five sneakers Canadians are shopping for on StockX.
Marking the 12th release of the fan-favourite 350 V2 model, Adidas and Kanye West introduce this colourway’s dark-hued upper just in time for fall. The Yeezy 350 V2 Carbon features all the familiar elements that make the silhouette so popular; breathable Primeknit solid black mesh with its signature side stripe, ribbed patterned off-white midsole, and classic BOOST cushioning make the 350 V2 Carbon the icon shoe that it is.
SHOP IT: StockX, starting at $340
Inspired by its 1985 roots, the distinctive colour blocking is reminiscent of the OG ‘Chicago’ colourway.
SHOP IT: StockX, starting at $229
For the first-time ever Crocs teamed up with Justin Bieber and his streetwear label Drew House to release the exclusive Crocsx JB Classic Clog. This limited-time release arrives in Drew House’s signature yellow and includes eight custom jibbitz charms, ranging from Drew House logos to assorted smiley faces.
SHOP IT: StockX, starting at $84
A special collab from the Jordan brands and French professional football club Paris Saint Germain, the Jordan 4 PSG features traditional color-blocking that is reminiscent of the classic Fire Red 4. Adorned white leather, grey panelling and bordeaux purple-hued accents, it is also finished with a “PANAME” text label on the lateral forefoot and a “PSG” badge on the rubber heel tab.
SHOP IT: StockX, starting at $393
Bringing yet another deconstructed element to his Nike Collabs, Virgil Abloh’s Nike Air Rubber Dunk UNC is composed of rubber, synthetic leathers, and mesh finished with raw edges that can be found on the tongue.
SHOP IT: StockX, starting at $388