Streetwear brand Supreme heads the new vertical at StockX, the new market platform for the buying and selling of goods that is set up in a similar fashion to the stock market.The streetwear vertical will include other brands such as A Bathing Ape, Kith and Off-White at a later date. More than 3,000 Supreme products are now live on StockX.The online “stock market of things” was started in February 2016 via a partnership between Josh Luber, Greg Schwartz and Dan Gilbert, with sneakers as the first vertical. Luber provided his sneaker expertise; Schwartz his technology and product development background, and Gilbert — who is founder and chairman of Rock Ventures, Quicken Loans and majority owner of the Cleveland Cavaliers — his approval for start-up funding through his investment firm Detroit Venture Partners. Luber was the creator of Campless in August 2012, which monitored eBay to provide users with market analysis of sneaker resales and values. Other investors include Eminem, Mark Wahlberg, Ted Leonsis, Tim Armstrong, Scooter Braun and Ron Conway.Luber said, “Streetwear has been on the ‘stock market of things’ roadmap since Day One,” adding that StockX's sneaker customers have been asking for the vertical to be included. The company hired Rob Gonzales, who has more than 15 years in the streetwear sector, to head up the newest vertical.The buy/sell platform that was created for the sneakers vertical — which guaranteed authentication of product listings, real-time market pricing, in-depth market analysis, historical sales/volume metrics and individual user portfolio tracking — has since been expanded to include verticals for watches and handbags. Sneakers are required to be brand new, or inventory that is considered “deadstock,” while handbags and watches are to be in “excellent used condition,” according to Luber.Sneaker brands on the platform include Adidas, Nike, Jordan and Yeezy. Handbags on the site include Louis Vuitton, Chanel, Gucci and Hermès. Watch brands include Rolex; Cartier; Breitling; Omega; Patek Philippe, and Audemars Piguet.According to Luber, the online platform connects buyers and sellers using an anonymous “live bid/ask” market in the same fashion that the equity exchanges operate. That provides buyers and sellers with transparency in data, whether that is real-time pricing, volume metrics or historical sales data. Because of the data transparency, buyers can buy immediately at the lowest price that is listed, or via a placed “bid” that any individual seller can choose to accept. Conversely, sellers can sell at the highest current bid or place an “ask,” leaving it up to any buyer to decide whether to accept. Luber said completion of any transaction occurs following shipment of the product to Detroit for authentication.Luber said the company as of June 2017 had surpassed $100 million in gross merchandise value. He projected the gross sales run rate to pass $200 million by the end of 2017. The company this year hired Reginald Brack, former senior vice president at Christie’s, to head the watch vertical, and Cynthia Houlton, former vice president of business development at The Real Real, to lead the handbag category.Brack said a master watchmaker will open every watch to inspect the movement and check internal and external components. “The watch must meet the watch manufacturer’s specifications for functionality and finish," Brack said, adding that every component including straps and bracelets, even replacement parts, must contain 100 percent authentic products from the manufacturer. As for the “stock market model,” Brack called it “disruptive” for the pre-owned watch sector.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews