StockX has responded to Nike’s claims that it sold the brand four pairs of bootleg versions of their sneakers. The online marketplace and resale brand is basically saying, Don’t believe the hype.
According to StockX, Nike itself has expressed faith in its authentication process and asserts that the latest court motion amount to sour grapes over its lawsuit against its Vault NFT program. They went as far as to say that they can’t be too mad at the job they’re doing considering its own employees use it.
“We take customer protection extremely seriously, and we’ve invested millions to fight the proliferation of counterfeit products that virtually every global marketplace faces today,” said StockX in a formal statement shared with Hip-Hop Wired. “Nike’s latest filing is not only baseless but also is curious given that their own brand protection team has communicated confidence in our authentication program, and that hundreds of Nike employees – including current senior executives – use StockX to buy and sell products.”
StockX has become a huge brand itself, growing from selling sneakers to also moving electronics, streetwear and trading case, as the aforementioned NFT foray. The relatively new kid on the sneaker block add that Nike’s moves proves that it’s out of touch.
The statement continued, “This latest tactic amounts to nothing more than a panicked and desperate attempt to resuscitate its losing legal case against our innovative Vault NFT program that revolutionizes the way that consumers can buy, store, and sell collectibles safely, efficiently, and sustainably. Nike’s challenge has no merit and clearly demonstrates their lack of understanding of the modern marketplace.”
Yeah, this isn’t over.
StockX Responds To Nike’s Bootleg Sneaker Sales Allegations was originally published on hiphopwired.com