StockX Opens New Hong Kong Authentication Centre
Continuing their expansion into Asia, global marketplace StockX have opened a new brick-and-mortar authentication centre in Hong Kong. The location will act as a regional hub, serving Hong Kong, as well as China, Taiwan and Singapore. The opening of the authentication centre will reportedly result in lower fees, reduced shipping times, and faster payouts across the entire region.
In the last year, transactions in Asia have increased by more than 500 per cent, with Hong Kong leading the way. Despite co-founder Josh Luber recently announcing his departure, the company continues to thrive.
‘We have an extremely active customer base across key Asian markets, and we’ve seen tremendous growth within Hong Kong in particular,’ said StockX chief executive Scott Cutler, speaking with the BBC.
As with all of StockX’s current authentication centres, the Hong Kong hub will legit-check every pair before it is shipped out to a buyer. Regarding fakes, Cutler added, ‘We see fewer and fewer of them at StockX due to the fact that we sit in the middle of the transaction and fraudsters know that to be the case’.
Since launching in 2016, the platform has grown rapidly, now boasting an inventory of over 115,000 products, with close to 1,000 staff globally.