Depending on who you speak with, the sneaker industry is in a precarious position. Sales figures seem to be plateauing and designs are consistently derivative, and yet more and more consumers are adding “sneakerhead” to their social media bios. For StockX founder Josh Luber however, the future couldn’t look brighter, despite having stepped down as CEO and transitioning to the brand’s executive leadership team and board of directors.
The secondary marketplace continues to maintain its stake of market share from brands, so much so that StockX was valued at one billion dollars earlier this year, after securing $110 million USD in funding back in June. With a firm grasp on sneakers, StockX is beginning to own it’s self-proclaimed “stock market of things” moniker, as it launched its first IPO — initial product offering — with Ben Baller-designed slides, followed by collectible athlete cards from TOPPS. And that’s not the only IPO on the brand’s mind, as StockX’s new CEO, Scott Cutler, told CNBC’s Jim Cramer that going public is “certainly our objective as a company.”