The resale sneaker market has long been dominated by a few brands, such as Nike, Jordan Brand, and Adidas. But on StockX, there is a newcomer making noise: Hoka.
In its latest Big Facts report, which identifies the fastest growing brands on the platform, StockX revealed the sneaker companies with the largest increase in trade globally midway through 2022. The brands considered, according to StockX, were expected to have at least 100 trades in the first half of 2021.
Leading the pack was Hoka, which saw a 3,606% increase in trades for the first half of the year compared to the same period in 2021. (StockX confirmed with FN that the first Hoka to trade on the platform was his Engineered Garments collaboration from 2018.)
“Collaborations, of course, have a high premium, so those are things that generally work out really well. But if you look at the models online, if you search for Hoka on the site and sort by bestsellers, the models online are the best-selling models,” Drew Haines, director of merchandising at StockX, told FN. “In some cases, we have models online at prices below retail. It’s actually more of a smart shopper’s game than someone looking for something that’s sold out.
He continued: “We have both sides of the coin, and I think that’s where we’re going to be very successful going forward. We have the hot stuff, but we also have the potentially discounted stuff.
Although Hoka finds its place in the world of sneakerheads, Haines is convinced that the brand’s recent success on StockX is no accident.
“Hoka definitely has a smaller base to start with, and Hoka’s trades are definitely not one of the big three – Nike, Adidas or Jordan Brand – but that wasn’t nothing either,” Haines said. “It’s a real growth, a real trend and we’re definitely seeing that we’re going to those things that maybe aren’t as popular because they’re looking for something different. »
For the future, Haines believes that Hoka’s presence on StockX will continue to grow.
“If you are looking for sneakers then other brands, we now have a filter for Hoka. We just added that because so many people are searching for the brand,” hate said. “It is rapidly climbing the ranks of the most popular brands. Beyond your Nikes, Adidas, Jordans, and Yeezys, you have New Balance, Reebok, and Vans in that second tier in terms of volume. Hoka takes a step towards this level.
He continued: “Are they going to see the volume that Nike or Adidas see? I don’t think so because they are just such monsters in the game. But can they break into this second level with the other known names like Puma, New Balances or Vans? It’s entirely possible.
After Hoka in terms of growth, Puma saw a 415% increase in the first half of 2022 compared to the same period last year. Much of the brand’s success on StockX stems from trades in the MB.01, which is NBA superstar LaMelo Ball’s signature shoe.
“We were seeing the shoes appearing in great volume [on the site]similar to the volume we would see for a new Tier 1 Jordan release or a new Tier 1 Yeezy release,” haines said.
Common Projects (376%), Louis Vuitton (245%) and Birkenstock (219%).
Specific to Birkenstock, StockX noted that collaborations with Stussy and Manolo Blahnik were partly responsible for the brand’s top five position.
“People are taking items that are meant to be purely utilitarian and turning them into a fashion statement. Birkenstocks were supposed to be comfortable,” haines said. “Sneaker enthusiasts evolve and mature over time into different types of models and different types of brands.”
Just outside the top five are New Balance and Under Armour, which grew by 200% and 142%, respectively. New Balance, according to StockX, has been boosted by the success of its popular 550 style, and Stephen Curry’s shoes – including the Curry 4 Flotro “Vivid Lilac” worn by the baller in the 2022 NBA Finals – have helped improve the growth of Under Armour. (StockX said nine of the 10 most traded Under Armor shoes on StockX were Curry’s.)
Looking forward, Haines identified two brands he believes will be among the top performers on StockX by the end of the year.
“Two or three years ago, if you told a sneakerhead about Crocs, they’d probably laugh at you. Now it’s like, ‘Did you get the Post Malone collab? Or the Salehe [Bembury Pollex Clog]?’” haines said. “The other that will continue to do well is New Balance. We have them as our #6 growth brand in the first half of the year – but that’s on a much broader basis than the year before. To be able to grow 200% year-over-year with already significant business, New Balance is establishing itself as the number one brand below your big three.
Beyond shoes, StockX revealed that Yeezy took the top spot in apparel trade growth for the first half of 2022 vs. 2021 (1,063%), followed by The North Face (761%), Uniqlo (582%), Palm Angels (366%) and Drew House (336%).
For accessories, Swatch led the way with a 4,771% increase in trade, followed by Drew House (279%), Kaws (244%), Goyard (166%) and Palm Angels (151%).
The top five brands in the StockX collectibles category were Hot Wheels (498%), Mschf (468%), Disney (388%), Lego (372%) and Bape (195%). As for electronics, the top five brands in order were Finalmouse (1,090%), Meta (454%), Nintendo (280%), Beats by Dre (113%) and Samsung (105%).
Ahead of today’s release of the Big Facts report, StockX has been the subject of several headlines recently. For example, the company confirmed in June that it had laid off 8% of its total workforce, which was announced to employees by CEO Scott Cutler in an email seen by FN. The email said steps had been taken to reduce costs by prioritizing existing investments, reducing discretionary spending, placing limits on new hires and improving the efficiency of the company’s business process. . StockX has confirmed that the affected employees will receive severance and health benefits for a period of time after the layoff.
In May, StockX expanded its leadership team, bringing in tech industry veteran Damien Hooper-Campbell as its first-ever impact manager. In this role, StockX said at the time that Hooper-Campbell would be responsible for overseeing key functional areas, including diversity, equity and inclusion, as well as its environmental, social and community engagement initiatives in a global perspective.