Calling All Sneakerheads: StockX is Expanding into Asia

A stock market for trainers, otherwise known as rubber shoes or sneakers, that allows people to buy and sell shoes using real-time data is expanding into Asia.

Asia is one of the fastest growing regions for StockX, a US tech firm that set up the shoe exchange.

Since its launch in 2016, the platform has grown rapidly and now has 115,000 products listed and close to 1,000 staff globally.

StockX opened a new brick-and-mortar center in Hong Kong that will make it easier to trade trainers.

In the last year, transactions in Asia have risen more than 500% with Hong Kong leading the way, StockX chief executive Scott Cutler said.

Trading sneakers is big business and rare shoes sell for thousands of dollars. A pair of trainers worn by basketball legend Michael Jordan fetched 615,000 dollars at an online auction in August.

The Nike Air Jordan 1 High sneakers, described as the “rarest of the rare,” were used by the Chicago Bulls star in an exhibition game in 1985.

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