StockX Introduces Verified Seller Program Amidst Ongoing Nike Lawsuit
StockX has launched a new Verified Seller program allowing a small number of pre-selected sellers to offer faster delivery times by shipping items directly to their buyers instead of having them routed to an authentication center.
StockX says they've instituted a rigorous vetting and onboarding process for Verified Sellers and at launch, only about 1% of StockX’s total volume will be eligible for the program with plans to scale over time and expand globally.
“StockX was among the first marketplaces to make product verification a top priority, and that isn’t going away. We’ve spent millions investing in our physical verification process to make it as strong as possible, and we spent months meticulously designing the Verified Seller Program to ensure we uphold our high standards and meet the expectations of our customers. We believe this program does that while also providing access to more products that are all backed by our StockX Buyer Promise,” said StockX CEO Greg Schwartz.
“When we innovate to improve the customer experience, everybody wins and StockX Verified Seller is the latest example of our commitment to doing just that.”
Kayla Kalinski
Verified Sellers must meet strict criteria, including but not limited to:
- Background Checks: StockX conducts background and identity verification checks using our identity verification partners.
- Compliance Standards: To maintain quality service and reliable transactions, StockX closely monitors seller performance to ensure they are adhering to our compliance standards. At any time, if a seller does not meet these standards, they will be removed from the program.
- Performance Criteria: Sellers must maintain a consistent performance record for all orders. This includes strict adherence to our product condition guidelines, shipping deadlines, and other criteria.
- Seller Training: Sellers in this program must participate in training on product listing guidelines, packaging, and shipping to adhere to StockX’s standard operating procedures.
- Regular Audits: StockX will conduct regular audits of all sellers in the Verified Seller Program, to ensure compliance with StockX policies. This may include site visits and secret shopper audits.
Even if items sold by Verified Sellers won't be going through StockX authentication, they'll still be covered by StockX's Buyer Promise and 14 day return policy.
The move comes as the company is mired in an ongoing lawsuit brought by Nike which started in 2022 as trademark dispute over non-fungible tokens (NFTs) but has expanded to include claims regarding sales of counterfeit sneakers and false advertising.
Liz Morton
The New York district court judge handed down a partial summary judgment in the case last month, ruling that StockX is liable for the sale of 37 pairs of counterfeit sneakers through the platform in a decision which leaned significantly on StockX's marketing and guarantees around their authentication services.
While StockX says they're introducing the Verified Seller program do meet a longstanding buyer desire for faster delivery, it's also worth noting that allowing some inventory to bypass authentication could potentially help bolster their defense as Nike v StockX heads to trial in October 2025.
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