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Sneakers Auction Company Opens in London and Plans a Store
- Upstart online market StockX sees U.K. shoe growth of 20%
- Website lets users bid for and sell new and used products
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As the European retail industry tries to bat off the incursion from Amazon.com Inc., a new U.S. rival has just touched down in London: StockX, a three-year-old company that runs online auction markets for products like sneakers.
StockX, which connects buyers and sellers who want to trade new and second-hand shoes and streetwear on a platform similar to an online stock broker, has quickly become the largest such marketplace in the world. The company opened its first headquarters outside the U.S. in London in October, as it sees the U.K.’s 200 million-pound ($262 million) trainer resale market growing more than 20 percent a year.