StockX Announces New CEO Will Be Taking Over In 2025

11/11/2024 01:27 PM

For the past few years StockX has seen its reputation take all kinds of hits with customers accusing them of selling fake sneakers and Nike essentially solidifying as much in a court of law.

Now, with the sneaker reselling market struggling like never before, StockX is looking to shake things up on a corporate level. They’ve decided that a change in leadership is needed at the current moment. According to Nice Kicks, current StockX CEO Scott Cutler will be stepping down from his position at the end of the year, and the company’s co-founder, COO Greg Schwartz, will be taking over Jan. 1, 2025. Though Cutler will be taking a backseat to Schwartz, he will remain on board as an advisor as StockX tries to figure out which direction they will go in as the sneaker game isn’t what it was just a few years ago.

We think they can start by upping their authentication process and figure out how to keep fake sneakers from getting in the hands of high-paying customers, but hey, that’s just us. No shots.

Per Nice Kicks:

Since taking the reins in 2019, Scott Cutler has significantly expanded StockX's global footprint. Under his leadership, StockX entered numerous international markets, helping make the platform a go-to destination for sneakerheads, collectors, and streetwear fans worldwide. Cutler also emphasized StockX's dedication to transparency and authenticity, strengthening the company's reputation as a trusted platform in the resale space.

However, one of Cutler's most talked-about initiatives has been the launch of StockX's Vault NFT project. Launched as an innovative step into the digital collectibles market, Vault NFTs allowed users to buy, sell, and trade digital representations of physical products held by StockX. The project quickly attracted attention and sparked a legal dispute with Nike, who argued that the NFTs infringed on its trademarks. The lawsuit remains unresolved, but it underscores the bold direction StockX pursued under Cutler's leadership, venturing into new markets that challenged traditional industry boundaries.

Those NFTs really ended bricking worse than those Yeezy Pods that dropped last year. Just terrible.

Though StockX is now working with Walmart to move some sneakers (nah, forreal), it’s hard to see how StockX can become the force it once was in it’s heyday with the sneaker resell market at an all-time low.

But hey, that’s why these CEOs and COOs make the big bucks, right?

What do y’all think StockX should do to get the company back on track? Let us know in the comments section below.