Image: Mike Sullivan
Startups E-commerce

StockX Revenue Hits $400 Million in Turf Battle With Goat

Photo: Image: Mike Sullivan

Most people who buy from e-commerce site StockX purchase the type of items it has become known for: trendy pre-owned sneakers and other streetwear. But in a twist, the new Sony PlayStation and Xbox consoles were its highest-grossing products last year as shoppers dove in, willing to pay a premium for the scarce devices. StockX’s expansion into electronics helped power the resale marketplace past $400 million in revenue last year, CEO Scott Cutler said in an interview.

For Detroit-based StockX, expanding into new product categories including collectibles and electronics is the centerpiece of a growth strategy that could coincide with a public offering this year. It contrasts with the approach of StockX’s closest rival, Goat, another startup capitalizing on the booming market for secondhand streetwear and other fashion items. To avoid turning off its core customers, Goat has resisted fanning out beyond shoes, apparel and handbags.

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