Buying your favorite designer handbags and watches just got easier.
Wednesday StockX, a “stock market of things,” expanded its merchandise to include watches and handbags bringing the retailer’s Gross Merchandise Value to an estimated $100 million, according to the company. In addition to sneakers, the Detroit-based retailer has now tapped into three of the world’s largest luxury resale markets.
Now available in the handbag section of the StockX are brands including Chanel, Louis Vuitton, Hermès and Gucci. The selection of watches includes Rolex, Audemars and Omega.
The newly formed watch team will be managed by Reginald Brack, former senior vice president and international head of retail at Christie’s, where he launched the auction house’s first online luxury watch boutique. Alongside him will be Blake Buettner, acting director of watch content, who formerly contributed to Hodinkee, a retailer focused on news surrounding high-end watches.
The handbag team will be led by the Cynthia Houlton, former vice president of business development at The RealReal. Houlton was one of The RealReal’s first employees and was crucial in building its vendor channels to source handbags and fine jewelry.
In early 2016, Josh Luber co-founded StockX with Greg Schwartz and Dan Gilbert, founder of Quicken Loan and majority owner of the Cleveland Cavaliers. Since then, Mark Wahlberg, Eminem, Ted Leonsis, Scooter Braun, Tim Armstrong and Ron Conway have invested in the company.
The website uses the same verifiable, anonymous and transparent methods as the New York Stock Exchange, which provides customers with guaranteed product authentication, real-time market pricing, market analysis, individual user portfolio tracking and historical sales and volume metrics.
“From the beginning, we set out to create the ‘stock market of things,’” Luber, StockX’s CEO said in a statement. “We have had significant and rapid growth in sneakers, validating the stock exchange model, enabling us to expand into handbags and watches only 15 months after our initial launch.”