Even top resellers like StockX and The RealReal are terrible at spotting knockoffs
When Nike sued sneaker resale platform StockX this month, accusing it of hawking fake shoes, the suit echoed the complaints of many online users. Despite being one of the top sneaker marketplaces, fakes have been slipping through its filters.
While shoppers are willing to take their chances on the authenticity of items at the local consignment store, they expect more from big resellers like StockX, The RealReal, or famous vintage boutiques What Goes Around Comes Around, a celebrity favorite. All of them promise to deliver 100% authentic goods, but a growing pile of lawsuits against them suggest they are falling short.
It’s a problem that will only get bigger as more consumers gravitate towards second-hand, spurring the proliferation of resale sites. According to McKinsey, the luxury resale market was worth as much as $30 billion in 2020 and is expected to grow between 10% to 15% over the following decade. Rising inflation is expected to further boost the sales of second-hand fashion companies.
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