Earlier today, Detroit-based sneaker resale hub, StockX, announced a new business plan that will expand its reach beyond the current resale market. The company, which currently functions as “a stock market of things,” with a specific concentration on high-end, of-a-kind footwear, will now offer companies and brands the opportunity to have Initial Public Offerings (IPOs) limited edition consumer products.
“Allowing consumers to purchase limited-edition products at an IPO the same way they would with company stock on the New York Stock Exchange is the next step in StockX’s continued growth to become a viable and better way to both buy and sell certain product categories,” shared Josh Luber, co-founder of StockX.
In addition to the IPO status, which will go into effect tomorrow, as of today StockX will offer limited product from Fourth of November, a line created by Roc-a-Fella Records co-founder Kareem “Biggs” Burke. The collaboration comes just in time for the 20th anniversary of Reasonable Doubt, hip-hop luminary Jay Z’s best-selling, most highly acclaimed projects, produced through Roc-a-Fella, of course. Biggs told press that he’d observed the impact the album had on the millennial generation and felt that it was important to commemorate such an historic project.
“The Fourth of November x Reasonable Doubt merchandise collaboration is in honor of the album that connected the dots between artists of today and the movement we started years ago. If you think about the Reasonable Doubt family tree, Jay Z introduced J. Cole, Rihanna. I introduced Kanye West to the market, who in turn, introduced G.O.O.D. Music, Pusha T, Big Sean and many others – a lot of careers have been birthed from the movement we started,” said Biggs.
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