StockX today announced the launch of the ‘New Balance IPO’ via its proprietary release method — known as an initial product offering — with a limited release of the exclusive New Balance x No Vacancy Inn 650. StockX, the world’s first ‘Stock Market of Things’, in collaboration with the iconic brand New Balance will drop 400 pairs of the New Balance x No Vacancy Inns through a blind auction allowing customers to set the market price without the need for MSRP. At its core, the model is about streamlining the process from release to resell — it ensures that consumers have a fair and equal chance to get a pair (or item) at a price they are willing to pay.
“As a technology company, our roots are in innovation — it is how we have managed to grow StockX into the largest global marketplace of its kind in just four years. It is this commitment to innovation that drives the thinking behind initiatives like our IPOs,” said Deena Bahri, CMO at StockX.
New Balance is not only one of the leading sneaker brands in the world, but our shared belief in the importance of offering consumers direct access, empowering collaboration, and elevating creatives made the partnership a win-win.
For this IPO, No Vacancy Inn co-founder, Tremaine Emory and managing partner, Brock Korsan, offered their take on the classic New Balance 650 silhouette. Drawing inspiration from lauded furniture designer George Nakashima, the pair leveraged earth tones, premium fabrics, and clean, simple branding. Accompanying each pair is an exclusive hangtag USB “key” that houses a custom, curated playlist featuring an arrangement of tunes that Emory and Korsan have been listening to whilst abiding by COVID pandemic-imposed shelter in place mandates.
“Digital innovation and great partnerships are at the core of New Balance. Working with StockX and No Vacancy Inn to bring the history-rich 650 to market in a way that empowers consumers directly is a unique opportunity,” said Nathan Isaacson, GM, Digital for New Balance.
This launch showcases both the history and future of our brand, and puts control in the hands of our consumers.
“The thought process behind this collaboration was based on our love of the New Balance 650 silhouette and our love of gum soles,” Emory said of the exclusive sneaker. “Think George Nakashima out on a run. This collaboration continues our “Water and WiFi” theme, a metaphor for the two things we all need — nature and technology. ”
Limited to only 400 pairs and commemorative USBs, the sneakers will be available for bidding worldwide on May 5 at noon EST exclusively via StockX IPO. For more information or to place a bid, visit StockX.