By Sahil Patel Updated Sept. 11, 2019 5:57 pm ET Online sneaker marketplace StockX LLC has struck an advertising deal with WarnerMedia’s Bleacher Report as it seeks to step up its marketing efforts in an increasingly competitive business.
StockX is paying Bleacher Report an undisclosed fee and will share revenue from any sales to visitors who arrive via a Bleacher Report link, according to executives from Bleacher Report and StockX. Sneaker resale is becoming a fiercely contested market as a raft of sites vie to cater to often-young shoppers who collect rare merchandise and try to sell it at a markup online.The growth has fueled new funding. In February, Foot Locker Inc. said it was investing $100 million in Goat Group, an online sneaker reseller. Last December, Farfetch Ltd. said it was acquiring Stadium Goods in a deal valued at $250 million.
Bleacher Report’s Kicks franchise has 1.3 million followers on Instagram, with celebrity followers including LeBron James, Kevin Durant and Justin Timberlake.
Uh...what? A sneaker marketplace? Like a store?