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People on the Move

Second-hand and “deadstock” fashion marketplace unicorn StockX will begin China operations by the end of 2019, according to reports in the Chinese media.

StockX secured $44 million in its second funding round in 2018. The company has more than 80,000 listings and passed $1 billion U.S. in GMV in Q4 2018. It boasts a roster of celebrity investors, including Eminem, Mark Wahlberg, Don C, Steve Aoki, Karlie Kloss, and Scooter Braun. The company expanded into Europe with a U.K. authentication center in October.

StockX rival GOAT has also set its sights on the China market, launching a new localized app there this week.

A host of domestic rivals are taking shape. Chinese deadstock sneaker marketplace Nice (AKA, NiceHaoHuo) recently raised “tens of millions” of dollars in a Series D funding round led by the TPG-Softbank joint venture fund and Vision Capital. China’s largest sneaker trading platform Poizon raised a round valuing it at $1 billion U.S. in May, while 58.com’s c-to-c marketplace Zhuan Zhuan launched its own counterpart QieKe, also in May.

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