StockX
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Source: StockX / StockX
For the past few years StockX has seen its reputation take all kinds of hits with customers accusing them of selling fake sneakers and Nike essentially solidifying as much in a court of law.
Now, with the sneaker reselling market struggling like never before, StockX is looking to shake things up on a corporate level. They’ve decided that a change in leadership is needed at the current moment. According to Nice Kicks, current StockX CEO Scott Cutler will be stepping down from his position at the end of the year, and the company’s co-founder, COO Greg Schwartz, will be taking over Jan. 1, 2025. Though Cutler will be taking a backseat to Schwartz, he will remain on board as an advisor as StockX tries to figure out which direction they will go in as the sneaker game isn’t what it was just a few years ago.
We think they can start by upping their authentication process and figure out how to keep fake sneakers from getting in the hands of high-paying customers, but hey, that’s just us. No shots.
Per Nice Kicks:
Since taking the reins in 2019, Scott Cutler has significantly expanded StockX’s global footprint. Under his leadership, StockX entered numerous international markets, helping make the platform a go-to destination for sneakerheads, collectors, and streetwear fans worldwide. Cutler also emphasized StockX’s dedication to transparency and authenticity, strengthening the company’s reputation as a trusted platform in the resale space.
However, one of Cutler’s most talked-about initiatives has been the launch of StockX’s Vault NFT project. Launched as an innovative step into the digital collectibles market, Vault NFTs allowed users to buy, sell, and trade digital representations of physical products held by StockX. The project quickly attracted attention and sparked a legal dispute with Nike, who argued that the NFTs infringed on its trademarks. The lawsuit remains unresolved, but it underscores the bold direction StockX pursued under Cutler’s leadership, venturing into new markets that challenged traditional industry boundaries.
Those NFTs really ended bricking worse than those Yeezy Pods that dropped last year. Just terrible.
Though StockX is now working with Walmart to move some sneakers (nah, forreal), it’s hard to see how StockX can become the force it once was in it’s heyday with the sneaker resell market at an all-time low.
But hey, that’s why these CEOs and COOs make the big bucks, right?
What do y’all think StockX should do to get the company back on track? Let us know in the comments section below.
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Source: StockX / StockX
Over the years StockX’s reputation has taken a massive hit as not only have they been caught selling fake sneakers by both customers and Nike, but they don’t even guarantee authenticity anymore as bootleg sneakers are allegedly becoming more and more indistinguishable from their authentic counterparts.
Needless to say they’ve since been struggling to maintain their business earnings in recent years resulting in the company slashing their workforce, but now it seems like they may get a little boost as they’ve partnered with Walmart to sell their stock as the resale market has cooled as of late.
According to Bloomberg, Walmart Inc. is looking to get in on the sneaker resale market (a tad bit late if you ask us) and are joining forces with the embattled sneaker reselling company to help them get their foot in the door.
Starting next week Walmart’s website will carry hundreds of sneakers that hypebeasts crave before eventually expanding to possibly tens of thousands of items in the coming future.
Vice president and category lead at Walmart Marketplace, Michael Mosser feels like this is in Walmart’s best interest to not only reach a new group of consumers, but also give their existing customers a new category to shop from going forward.
Bloomberg reports:
Shoppers “are looking for this full spectrum of products from Walmart,” whether that’s staples or collectible items, Mosser said, adding that Walmart is experiencing healthy demand for coveted sneakers.
The partnership — the first between Walmart and StockX — is part of the retailer’s efforts to beef up its online business to grab more spending from Amazon.com Inc. and other retail giants. Walmart said last week that it will expand the assortment on its marketplace of third-party vendors to include pre-owned and collectible products, building on its offering of refurbished electronics.
For StockX, it marks its first third-party platform deal, Chief Executive Officer Scott Cutler said in an interview. The Walmart deal will help StockX reach a new consumer base, including customers who may be unfamiliar with the brand, he said.
Customers who are unfamiliar with the brand and their reputation no less (no shots).
While this move will undoubtedly help both Walmart and StockX move merchandise, we have to wonder if anything will change on StockX’s part. Will the move effect the prices of the sneakers they’re reselling? Will they once again guarantee authenticity now that Walmart is involved? These are just a few questions sneaker have now that StockX has gotten new life in 2024.
What do y’all think of Walmart partnering up with StockX? Let us know in the comments section below.
Source: StockX / StockX
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Source: StockX / StockX
After a tumultuous 2022 and 2023, the struggles for StockX seem to be following them into 2024. The embattled sneaker reselling site is undergoing yet another round of layoffs to kick off the new year.
According to Nice Kicks, 40 corporate members were recently given the pink-slip including the company’s Chief Marketing Officer, Deena Bahri, who undertook the role back in the fall of 2019. On the bright side, those who were laid off were blessed with severance packages including health benefits, extended stock option exercise window, professional outplacement services, employee assistance plan (i.e. mental health support) and 401K match vesting. Heck, they were even given the option to keep their company laptops.
You’d think they’d be given some free sneakers as well, but who knows if they’d be authentic (no shots).
Nicekicks reports:
As a result of the layoffs, senior leadership positions were consolidated and several senior team members from within the organization are expected to serve in new capacities.
“Our business is multifaceted and continues to evolve. To better align with StockX’s current strategic priorities, today we announced an organizational restructuring,” stated a statement via StockX. “This includes consolidating and shifting several leadership roles to create a flatter, more streamlined organization that enables faster decision-making, increased visibility, and better cross-functional collaboration. We remain focused on our mission to empower everyone to trade what they love and thank the many team members who have contributed to this effort.”
How this will help the company, which has developed a reputation for passing off bootleg sneakers as “authentic” over the years is anyone’s guess. But it will be interesting to see if StockX actually has a plan to redeem their once fine name in the sneaker community.
What do y’all think of StockX’s latest moves? Can they save whatever’s left of their reputation? If so, how? Let us know in the comments section. In the meantime, peep the video below to see just how far StockX’s reputation has fallen thus far.
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Source: Jordan Brand / Jordan Brand
Once again StockX is getting bad publicity out in the sneaker community as court documents have revealed that they once sold a single customer 38 pairs of fake Nike sneakers.
According to Nice Kicks, information about how StockX sold a gang of bootleg Nikes last year was unearthed in documents pertaining to Nike’s lawsuit against the reselling website. Apparently a sneaker collector/reseller purchased multiple pairs of sneakers from StockX and when Nike went to inspect the kicks he received, they confirmed that at least 38 pairs were counterfeit.
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Luckily the customer in question was able to return the sneakers to StockX and got himself a full refund, something that some people on social media say was problematic when they’ve attempted to do the same.
StockX’s current Buyer Promise policy, last updated in November 2022, states that once “an order is created and we are unable to offer returns, exchanges, or swaps. You can always resell the item on our platform if you no longer wish to keep it.”
The reseller spoke to Sockjig, a well-known and respected voice in the sneaker space, about the pairs in question.
The reseller purchased multiple pairs of the Air Jordan 1 High OG “Mocha”; Air Jordan 1 High OG “University Blue”; and the Air Jordan 1 High OG “Hyper Royal” with 38 of them being fake, according to court documents.
The reseller purchased the colorways with the span of March and July 2022 as the market price dipped “with the intent of holding and flipping later,” Sockjig stated.
Yeah, that’s not a good look at all. Knowing that what’s left of their reputation is hanging on by the thinnest of threads, StockX responded to the claims of moving 38 bootleg pairs of kicks in an attempt to save some face.
“While we can’t comment on pending litigation, we are confident in our legal defenses and have continuously supplied appropriate information in a timely manner. We stand by our verification process as one of the first and best in the industry, and in 2022 alone, rejected more than 330K products worth nearly $100M.”
“StockX also has a Buyer Promise in place, which is central to our mission of offering a safe and secure marketplace for both buyers and sellers. If we make a mistake and incorrectly verify an item, we’re committed to making it right for our customers.”
Nike’s really dragging their reputation through the mud with the lawsuit, but once StockX stopped guaranteeing “Authenticity” it was a wrap for them out on these streets. Heads don’t even rock those StockX tags on their kicks out in the wild anymore (one of the few good things that came from this).
And to think all of this began because StockX began selling NFT’s of Nike sneakers without Nike’s approval. That in turn prompted the lawsuit and everything went downhill for StockX from there.
How this ends will be anyone’s guess, but StockX’s reputation may never recover from this debacle. Between this and having sold fake sneakers to undercover Nike representatives, heads are thinking twice about copping hype sneakers off the reselling website.
What do y’all think of the latest revelation to come from Nike’s lawsuit against StockX? Let us know in the comments section below.
In recognition of ADHD Awareness Month, Billboard has partnered with All Day Dreaming, a virtual coworking platform and community for talented ADHD artists and entertainment executives and its founder Hyla to host conversations with some of the creative ADHD brains in and around music.
Here, Hyla speaks with Damien Hooper Campbell, chief impact officer at StockX, the popular online marketplace for sneakers, apparel, electronics and more. After living decades with undiagnosed ADHD, Campbell has learned to manage his condition and has become a formidable business leader reshaping workplace misconceptions about ADHD in the process.
“The best way to establish an inclusive culture is to lead by example,” says Campbell. “As executive leaders, it’s important for us to be real human beings who do not always show up like everything’s perfect. It’s important that we are open to talking about it when it’s appropriate.”
Many people with ADHD are stuck in positions without the resources they need to succeed and many managers have no idea how to utilize their neurodivergent employees. More executives are needed to help set the tone at their companies and tell their story of how ADHD can be a major company asset if you know how to use it. Campbell breaks down his journey and shares the latest insights and techniques for employees, managers and executives on how best to navigate ADHD in the corporate world.
Below is a condensed and edited version of Hyla and Campbell’s conversation. Listen to the full interview on the All Day Dreaming podcast here.
Hyla: How old were you when you first realized you had ADHD?
Campbell: My elementary school years. I got expelled from two schools between kindergarten and first grade. The administrators would tell my mother, “He’s smart, he’s in advanced reading and mathematics classes but he’s got to stop walking out in the middle of class and getting into fights. We think Damien has ADHD.” In the ’80s, there was a negative stigma around any kind of learning disability so my mother, a strong, loving and protective single Black parent, was afraid and felt like, “Oh no, not my baby.” I had to learn to just push through.
At 26 things came to a head in my life. I was in investment banking working 70 to 90 hours a week and I couldn’t understand why I was watching other people zip through stuff. I knew I was smart and had the aptitude, but I was having a challenge. It became desperation.
I went to see Dr. Robert Johnson, dean of the medical school at Rutgers. He’s a Black man who focuses on young adults and adolescents. I didn’t go in talking about ADHD per se but in our first session he clearly picked up on it and asked, “Have you ever been tested for ADHD?”
I soon got tested and he said, “You’re off the charts for this,” and prescribed me Concerta.
How did it feel knowing you would have to take a pill everyday?
There was a bit of a stigma at first, like, do I want people to know that I take a pill every single day? But beyond my insecurity and near-term desire to hide it from the world was hopefulness because I knew that if the diagnosis was correct, and if the medication worked, that it was going to unlock a lot of things for me and make life better.
Also, I thought that this pill was going to solve everything. Like, I take this pill and it would be like the movie Limitless and I’d be good to go, but that’s not the case. You still have to put in your own effort, the pill is just an aid, essentially.
What are other tools and techniques you use to manage your ADHD? What makes you feel your most productive and focused?
At 44 years old, sleep is by far number one. Exercise is crazy important to me and diet goes right along with that. Meditation and prayer too. At one point, I was doing a good deal of chanting, it’s something that I want to get back into, I found that to be very, very centering.
You also need to think about the energy around you. It’s become cliche to say “protect your energy”, but man, it’s true. There are energizers and de-energizers; the older I get, the more intentional I am about the people around me. I’ve got a big heart and I love helping others, but I also need some people who are pouring into me. A big part of that is learning to say “no” and not always feel like I need to give a detailed reason why. Simply saying, “I’m sorry, I can’t but good luck with what you’re doing,” is really important.
When did you feel comfortable telling people at work you had ADHD? What prompted you to do it and how did you prepare?
In 2014, I was leaving the finance field in New York and moving to California to work at Google. I was literally trading suits and ties for hoodies. The tech space was so different – the offices had nap rooms, there were free Twizzlers in the cafeteria, people rocked purple hair, you could bring your dog to work, and all the cool things. Talk about sensory overload. I thought to myself, “let me pressure test this and see if they really want me.” I revealed it to the person who would become my manager in the interview process.
After a few rounds of interviews I said I want to be upfront that I have ADHD. I take medication for it every single day. Here’s some of the things it does and here’s what that means. I wanted my manager to understand how that lands on the team an how I work best.
I figured, if I’m going to do this – if I’m going to make this change – let’s go all the way and be completely transparent. That way I know you want me for who I am.
So in the interview process, you’re basically saying, “This is how I work and how I can be an asset to you”?
Sort of, but even to this day, I’m figuring out how I can be an asset with my ADHD. What I knew for sure, was that I was not going to be the most organized individual, and I wasn’t a project manager so I needed them to know that.
If it comes to engaging with other human beings, being creative, brainstorming and even strategy, I’m most certainly your guy. As for the operational execution, that’s something I’m gonna have to work a little bit harder at. While finding the right balance is something I’m still figuring out today, I’ve come to learn that more structure is actually good for me.
What do you say to someone who is afraid to tell their employer they have ADHD for fear it could hurt their standing at work?
First, I would validate them and say that’s a real feeling. It’s easy for me to tell you, “Oh, don’t worry about that. Forget it.” That’s a bunch of BS.
Second, I would ask that the person do a visualization. Close your eyes and think one year out. You’re in that job and you haven’t disclosed your ADHD. You haven’t discussed your needs and you’ve been wearing the mask that we all put on so many times as human beings, the mask that we think our employer wants to see. Think about the moment when the real you starts to rear its face in the form of ADHD. Now you’re having to compensate, and use your energy not towards the job but to cover your ADHD. Maybe you’re underperforming, maybe you’re having to overproduce and overcompensate. Now think about the burnout and anxiety that comes with that.
Third, I’d say you’ve done a bait and switch on your employer. You wouldn’t want them showing you a misleading glossy brochure. Oh, look at this wonderful, beautiful place to work, and everybody’s so happy and then you get there and find out that it’s toxic. You’d be pissed. So why do it to them?
Lastly, I’d say, it’s better to know now that you can be the real you rather than find out later that you can’t be yourself. And you’d have nobody else to blame except yourself. It’s one of those very personal and professional maturity stages that get you to feel confident enough to say “I need to disclose this now because it won’t be good for either one of us if I don’t.”
Would you recommend people bring up their ADHD in the interview process? What’s your advice on how to approach that?
A lot of that depends on where you are in your life, how comfortable you are saying it, and the severity of how you’re affected by it. I don’t have a one size fits all prescription for folks.
The first thing you should do is research the hell out of whatever organization you’re going to work for to see what their company culture is like. Do they have an ERG [Employee Resource Group] or a benefits team that actually focuses on things that one would classify as a disability? Are they the kind of company that actually welcomes people who have those disabilities with open arms?
If you’re junior in your career, and depending on your socioeconomic group, you might not have the luxury of getting passed up on a job that your family might be depending on you for. I can’t front and act like everybody has the luxury of feeling free to tell their employer. However, the more senior I’ve become, I’ve learned that having that conversation on the front-end has led to better resources. For example, getting an executive assistant was a game changer. You mean, there’s somebody who’s going to help me make sense of all the ideas in my mind that sometimes isn’t super productive? Beautiful!
In addition to an executive assistant, what are some resources, at all levels of the org chart, that are reasonable to ask for? Maybe things people wouldn’t think they could have access to.
Again, ask if there’s an ERG, or an affinity group at the organization that’s focused on inclusion. Companies these days often have employee resource groups for women, LGBTQ+, Black and Latinx communities, and more.
Additionally, ask about benefits. We often talk about benefits in the context of monetary compensation like bonus structures or equity, but ask what kind of insurance platform the company uses. Ask about access to therapy. Are they allowing you a certain number of sessions with a therapist? Is it unlimited? If not, how much will it cost me to keep going? Do they actually give you the ability to choose a therapist of color, specific gender or speciality? Does the insurance cover prescription drugs? Do they have a program where your medication can be delivered to you? I can’t tell you the number of times I’ve totally screwed myself because I waited for my prescription to run out. If I can’t get a session with my therapist right away then I’m stuck without my meds.
Third, if project management and organizational structure is a challenge for you, see what resources they have to help with that. We don’t all have to be experts at everything; maybe there are developmental opportunities you can tap into.
I’ve also heard from people in the All Day Dreaming community that you should think about where you sit. Are you more productive around others or better alone? At 8 a.m. or 8 p.m.? Is there flexibility for when you’re available? And asking for things like noise canceling headphones or paying for your Headspace app. It’s your boss’s job to put you in a position to win and these are easy things to help you do that. Also ADHD is covered under the Disabilities Act so there are legal protections employees have.
Totally. There’s some things that you can try to solve for in advance. And then there’s some things that you do once you start, which I call “contracting”. If you’re a manager, you should be contracting with your team about what works best for you and what works best for them around communication. A few examples:
If you receive an email on the weekend, are you expected to respond immediately?What’s the most efficient way for you to communicate? Email, Slack?What forms of communication are you uncomfortable with? Text, social DMs?
Even if you’re not the manager, it’s important to contract on those things and make sure your team knows what works best for you – obviously, within reason – and vice versa.
What’s your advice to a manager or executive who doesn’t know how to best utilize or manage a person with ADHD?
Be clear on your expectations of the outcome, but also give them the space to be creative in how they get there. You want to provide some structure by being really clear about what you expect and what the non-negotiables are. At the same time, you’re also giving them the space and freedom to be creative. People with ADHD often take a route many have never considered to get something done.
The other thing that’s really important is to have frequent check-ins on how it’s going. As roles and projects evolve, what you contracted on day one may need to change on day 90 or year two.
Finally, give ADHD people latitude for creativity. Celebrate them and leverage their spontaneity when team culture gets a little stale. They can be a great asset.
A large percentage of ADHD people work in creative industries. However, I hit a wall when it came to finding music executives at high levels willing to talk about their ADHD publically. This was especially true of the women I spoke to who know the power of their story but weren’t ready to tell it.
You’re one of the few C-suite execs of any industry who is very publicly open about it. What’s your advice for someone at your level who wants to share their story?
I think there’s two layers of going public about it. Start with your team. I talk to my teammates about it, I’m okay with it, and I’m very proud of it. I explain to them how seeing a therapist, getting a diagnosis, and taking medication has changed my life. Then normalize it at the company level.
One of the first times I brought it up in a company-wide all-hands meeting, I was traveling around the world to the company’s different global locations. I misplaced my luggage and was without my medication for four days. I got up on stage in front of 300 employees and I said, “Look, I’m here with you but if you see me rambling a little bit, just know, it’s because I have ADHD.” And told them the story of losing my bags and meds. After that session I had an employee come up to me and say they really appreciated that I shared my story because they had never seen a leader do that publicly. They told me that they also have ADHD and take the same meds.
I’m fortunate at StockX because we have an amazing benefits program that offers therapy and more. We have a CEO who understands the importance – he sits on the board of nonprofits that focus on mental health – so it’s really part of the company culture. While we continue to create new initiatives around inclusion, I’m of the mind that the best way to establish an inclusive culture is to lead by example. As executive leaders, it’s important for us to be real human beings who do not always show up like everything’s perfect. It’s important that we are open to talking about it when it’s appropriate.
Hyla is an award-winning documentary filmmaker, interviewer and the founder of All Day Dreaming, a community for talented ADHD creatives and entertainment executives struggling with focus, productivity and burnout. All Day Dreaming hosts daily virtual co-working sessions, weekly Q&As with experts, a newsletter and a podcast. For more information and memberships go to AllDayDreaming.org.
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