May 11, 2022 update: StockX has responded to a Nike suit, accusing the Detroit-based reseller of selling counterfeit product. In a statement, StockX noted that Nike’s own team members had praised the company’s authentication process, adding that Nike employees frequently buy and sell on the platform.
“In a statement provided to MarketWatch, the reseller stated, “We take customer protection extremely seriously, and we’ve invested millions to fight the proliferation of counterfeit products that virtually every global marketplace faces today. Nike’s latest filing is not only baseless but also is curious given that their own brand protection team has communicated confidence in our authentication program, and that hundreds of Nike employees, including current senior executives, use StockX to buy and sell products.
“This latest tactic amounts to nothing more than a panicked and desperate attempt to resuscitate its losing legal case against our innovative Vault NFT program that revolutionizes the way that consumers can buy, store, and sell collectibles safely, efficiently, and sustainably. Nike’s challenge has no merit and clearly demonstrates their lack of understanding of the modern marketplace.”
Read the original story below.
Nike has escalated its suit against StockX. Adding on to a trademark infringement suit filed in February against StockX for its plan to sell Nike NFTs, the Beaverton-based sneaker giant is now accusing StockX of selling counterfeit Nike shoes on its site.
Filed in the Southern District of New York, the document addressing counterfeiting reads in part, “Notwithstanding StockX’s repeated guarantees that every items sold through its platform is 100% Verified Authentic, since December 2021 and continuing through the filing of this action, Nike has obtained from StockX four pairs of purportedly ‘authenticated’ Nike-branded shoes that Nike has verified are, in fact, counterfeit.”
In the documents Nike filed, it was illustrated with an image of an Air Jordan 1 patent sneaker, which StockX offered as a Vault NFT.
StockX's very spicy response to Nike lawyers claiming they bought fake Air Jordans on the platform. Says "hundreds of Nike employees – including current senior executives – use StockX to buy and sell products." pic.twitter.com/ZdUl9JQGak
— brendandunne (@brendandunne) May 11, 2022
