Amid Nike’s ongoing lawsuit accusing the company of failing to stop counterfeit sales on its platform, StockX has released a report full of data from its verification process.
Over the past year, StockX says it has rejected nearly $90 million worth of products that haven’t met its verification standards, including $30 million worth of fake sneakers. The company says it’s stopped nearly 300,000 individual products from trading on the platform within the same time period. And on average, nearly 1 million products go through StockX’s verification process each month.
StockX has also broken down the top reasons it rejects products. Counterfeiting is actually the second leading reason for rejection and accounted for 20 percent of all rejections over the past year. The number one spot goes to manufacturing defects at 27 percent. Damaged boxes and used products each accounted for 13 percent of rejections, while 12 percent were for the wrong product. Rounding out the list is the wrong size at 11 percent, while the remaining 4 percent or rejections were for “other reasons.”
The most commonly counterfeited sneaker StockX caught was the Nike Dunk Low “Panda.” Coming in second was the adidas Yeezy Slide in Onyx, followed by the Travis Scott x Air Jordan 1 Retro Low “Reverse Mocha.” The Yeezy Slide’s restock in Pure also came in fifth, while the fourth spot went to the Air Jordan 1 Retro High “Dark Mocha.”
Among other categories, the Fear of God Essentials Hoodie Stretch Limo was the most counterfeited item of apparel, while Telfar’s Shopping Bag in Medium Black was the most counterfeited handbag. The Supreme x New Era Box Logo Beanie in Black from FW21 was the most counterfeited accessory, and Daniel Arsham’s Eroded 911 Turbo Figure White took the top spot for collectibles.
StockX’s report comes on what is apparently World Anticounterfeiting Day, but it’s more interesting within the context of the lawsuit filed against the company by Nike. In late April, a judge ruled that StockX would have to produce documentation for how it handled the authentication of 38 sneakers Nike says are fake. StockX had argued this information qualified as privileged, and once it’s divulged it could give the public its best look yet at how the process works. For now, though, this report gives StockX a better chance of controlling the narrative.
Nike originally filed suit against StockX over the use of its sneakers for NFTs, which the sportswear giant alleged as a violation of its trademarks. The case was later expanded to include accusations of counterfeiting and false advertisement after Nike says it confirmed the large batch of fake sneakers passed authentication by StockX. When the case reaches its conclusion, it could have far-reaching consequences for StockX's business model and the resale industry as a whole.
For a look at the full StockX report, head here. Keep it locked to our Twitter and the Sole Retriever mobile app to stay updated on the latest releases, raffles, news, and more in the sneaker and streetwear world.
