There is some serious beef right now in the sneaker world with Nike going at StockX’s neck over the sale of alleged fake sneakers through StockX’s resale platform. Let me paint the picture for you right now and give a back story for those who may not know. A few months ago StockX tried to hop on the NFT wave to cash in on the big money being thrown around the NFT space. The NFT’s that had been released by StockX were virtual pairs of coveted sneakers that you would buy through StockX then you would have a physical pair that you now own alongside the NFT that would be stored by StockX and would transfer from account to account when resold without ever being in the physical presence of the owner. So I would buy the NFT and the accompanying sneakers and StockX would store them, then when I go to sell the NFT to another person the sneakers would transfer to that persons account who now owns the NFT creating a cycle of reselling the same kicks over and over without anyone actually having the physical shoes. Nike did not like that StockX was using their branding and products in this way because StockX was using Nike's branding and image to turn a profit (basically exactly what they do now in my opinion but I digress), Nike then proceeded to sue StockX over “blatantly free riding” off of Nike's designs and product.
Now back to the drama of the day. Nike added to their existing lawsuit with StockX claiming that between December and January Nike has purchased four pairs of counterfeit sneakers through StockX. Nike has added claims of counterfeiting and false advertising to their law suit against StockX on top of the prior trademark infringement suit. Nike states that all four of the pairs of sneakers that they purchased through StockX came with authentication tags and paperwork to match stating that the sneakers were 100% authentic, which ultimately was not the case. Since this news dropped this morning StockX has fired back at Nike by releasing the following statement.
“Nike’s latest filing is not only baseless but also is curious given that their own brand protection team has communicated confidence in our authentication program, and that hundreds of Nike employees -- including current senior executives -- use StockX to buy and sell products.”
Things are starting to heat up between these two giants of the sneaker industry and I cannot wait to watch this play out. Lots of independent sneaker resellers have taken to social media clowning on StockX for letting fake sneakers passed their authenticators but who knows if these resellers are catching all the fakes coming through their own doors. The moral of the story is be careful with what you buy and where you buy it when it comes to sneakers now a days. With fakes being more prevalent than ever it’s easy to get fooled, do your research.