StockX has revealed that “hundreds” of Nike employees including “senior executives” have been selling shoes on StockX. I’m guessing you don’t need to be a rocket scientist to speculate that a good number of those sales involve the selling of shoes against Nike policy. Shoes either purchased at an employee discount, provided to employees for free, or otherwise pilfered out the back door. Probably hundreds of nervous Nike employees right now hoping that StockX doesn’t release that list of names, causing those employees to explain from where they acquired those shoes. Stay tuned. This might get very interesting.
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Maybe if Nike paid their employees fairly and equitably employees wouldn’t have to make $$ this way.
@ekek i hear ya. Stockx wont release names, or else 95% of nike employees will be let go off. I know so many people that be selling their Van finds at all the sneaker pages.
So there’s no way nike Loss prevention , can investigate you nor find out if you selling on any platform without actual proof and transaction. Plus Nike will not waste money to do thorough investigation. Now if someone shows rats you out (haters) and shows you put up an AD of you reselling and they open an investigation, once you show them that you have the sneakers and actually wear the product, they cant terminate you. Just be lowkey for a while with purchasing.
@3ueh is right, this is nothing. If you think it is something then you don't know what actually goes on.
Vacuous… I swear, I would rather be involved in a meaningful role in an aircraft manufacture that has an occasional crash than ever work for Nike again.
Your lives have no meaning, at all.
This mostly doesn't apply to GR at the employee store. For Swoosh it's slightly more of a possibility but there are controls that track and flag your purchase activity. No, most of the StockX resellers from Nike are the ones with hypebeast access. Devs can't sell unless past GTM but they often have samples and finished product on hand. Collabs sell for the most value so it's mainly people who have access to that stuff. And who can forget that one executive who let her son run a reseller business and eventually got fired when they couldn't hide it anymore
@6mwi Those things just start in the last week?? 🥴
@5hnl ummm maybe it’s the runaway inflation and looming recession? 🥴
Could just be a coincidence but Asks prices on certain desirable sneakers have shown suspicious downward pressure in the last few days. A bunch of sellers who have been sitting on certain releases for months all of a sudden, at the same time, lowered their Asks substantially. It’s weird at best. Almost looks like a bunch of people got a sudden urge to sell as quickly as possible. Anyone else notice this???
All my Van finds are going on Stockx the moment I put in notice in June. I’m considering all those Vault purchases as a separation bonus!
The "nothing burger" author is either a super ignorant employee or more likely not an employee at all. Selling Nike products carries a risk of termination of employment depending on who, what and how it's being accomplished. It matters a lot particularly if it's well known or otherwise senior level employees. We'll all just have to wait and see if the StockX lawsuit and the potential disclosure of named employee users has any legs or consequences.
@3ueh there’s always something “there” whenever comms uses the word “nothing burger”
This is a big nothing burger. Wishful thinking from some of you salty individuals. Why do you care if people make extra money selling products on stockx? Are they taking money out of your pocket? Or are you just jealous of anyone making extra money?
You don’t think the reason Nike is suing StockX is so that they can obtain that list? Legal has some smart people. At BARE MINIMUM this is a purposeful scare tactic to Nike employees that resell Is a big no-no.
Fireworks incoming
Nike’s loss prevention team is no joke and will no doubt trace the sales back to employees if they open an investigation. They have access to your order history on swoosh/in store so not that hard to narrow down. If they haven’t done so its likely because Nike is getting some benefit from the listings. The resale marketplace for Nike is enormous and to crack down on it would mean accepting a steep decline in sales.
Is everyone going to be at the EH/Bodecker fundraiser where our ex-prez is cleaning out his Portland storage unit? www.liveauctioneers.com/catalog/246951_hail-mary-the-collection-of-elliott-hill/
Always amusing to read how simplistic a certain number of people are around the interpretation and understanding of conflicts of interest and company policy. Even if an employee buys a Nike shoe full price with zero discount there are still ways they could benefit via insider knowledge that would violate company policy. For example, an employee could be made aware of a particular marketing push that will hype up a shoe once it makes it to market thus driving up demand and resale value on a third-party site. That's basically insider trading, the asset just happens to be a shoe rather than company stock. At the very least any employees who are making money by reselling Nike product are obligated to disclose to their manager that they are materially benefitting from the resale of Nike products to ensure there aren't any conflicts of interest (but we all know that's probably not a common thing that employees bother to do). The individual's role is entirely relevant to the activity as well. Someone who is working in brand marketing would potentially be under tighter restrictions and closer inspection than someone much further away from the decision-making around product promotion, sales and marketing like building security (as an example). We all know a certain VP was pushed out recently not because they were actually selling Nike products, they just didn't inform their manager that a family member was involved in the resale of Nike shoes. Conflicts of interest can sometimes be interpretative and variable to the individual.
This totally happens and I’m surprised Nike has never cracked down on it. Coworker of mine routinely gets handed nice sneakers from the people he works with and those always promptly go up on StockX. 100% quick profit. He’s hardly the only person too.
There is a Auction in PDX hosted by a “retired” President this weekend. Most Nike items acquired during his time at Nike. It’s for charity?
Oh this one has some real potential.
Let’s goooooooooo
@ohg that’s some wishful thinking there. StockX doesn’t have to release private buyer/seller info directly to the public. They just need to include that information in one of their legal filings after which it will automatically become public info. That kind of thing happens ALL THE TIME. Given that StockX is using this argument to dispute some of Nike’s claims it shouldn’t surprise you at all if this happens. Aside from that you might want to read Section 11 of StockX’s terms of service where they explicitly say they are under no obligation to keep your usage of their service private. That “privacy obligation” you mentioned only exists in your head.
I also doubt there are “many many” employees buying product at full price and then reselling on StockX. But I don’t at all doubt there are employees buying at discounted pricing or otherwise taking advantage of their access to product to resell on StockX for a profit. Yes the employee handbook does prohibit that. Seems like you didn’t read that, either.
Shouldn’t matter though. Employees who haven’t done anything wrong don’t have anything to worry about. The rest may end up learning a lesson about “doing the right thing”.
“Fake news” has come to mean “Accurate news that certain people don’t like”.
https://www.reuters.com/legal/legalindustry/nike-ramps-up-sneaker-nft-lawsuit-with-stockx-counterfeiting-claim-2022-05-11/
StockX claims that hundreds of Nike employees including “current senior executives” are buying and selling on the platform. You’d have to be pretty naive to not think some employees are taking advantage of their discounts and other access to free shoes to start their own little shoe selling empires on StockX. With the lawsuit between Nike and StockX it’s entirely possible and maybe even likely that StockX will release the names of hundreds of employees who have been using the platform to make some extra cash on the side. I’d bet good money some employees are sweating right now, thinking there was little to no chance they’d ever get caught breaking the rules. Just watch…this will be another AH scandal x 10. Unless Nike tries to sweep it under the rug to save its own “current senior executives”. Never underestimate peoples greed. Especially amongst those in positions of power.
StockX has a privacy obligation to their buyers and sellers. They can’t just give that type of personal info to an unrelated party like Nike.
And in any event, I know many many Nike employees who buy at full price and then occasionally sell on StockX. It’s not against any sort of policy.
Fake news
Is there an article with this information?
Curious timing considering Nike is currently suing StockX...fun times indeed lol