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Adidas links with StockX on new blind-bid retail model

Published
Oct 23, 2019
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Sneaker resale specialist StockX recently linked up with Adidas on a “new IPO retail model [that] lets customers ‘blind-bid’ for adidas Campus 80s”.


StockX/Adidas



The company said its new model is set to disrupt the retail industry,” with 'IPO' in this case standing for Initial Product Offering. It involved Adidas releasing a limited-edition drop of 330 pairs of those Campus 80s sneakers – created by three designers from around the world – directly onto the StockX platform. And customers could then blind-bid for them over the course of three days, “allowing the consumer rather than the brand to set the price for a brand new product”.

It’s certainly an interesting idea with StockX CEO Scott Cutler saying it was the first time that such a brand had come direct into the marketplace and allowed the consumer to dictate the price that they’re willing to pay for rare, one-of-a-kind sneakers. “When it came down to it, the average clearing price was a little over $200 across all three, and 90% of the bidders paid less than what they bid on the sneakers,” he added.

The Adidas link-up was the first international ‘IPO’ from the mainly-resale platform and saw over 10,000 bids, most of them from the US, but 20% from outside of that country.

A previous StockX IPO in collaboration with American jeweller Ben Baller had been for 800 pairs of slider flip-flops, and attracted bids ranging from $50 to $1 million, we're told.

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