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The next battle in the ongoing war between Nike
NKE,
and online marketplace company Stockx is ramping up.
Nike has amended its suit against StockX to include accusations of selling counterfeit merch labeled as “authentic” on its platform. This comes after Nike says it purchased four pairs of fake shoes from StockX over the last few months, including a pair of Air Jordan 1 High OG “Patent Bred” sneakers. A size 11 pair of these shoes sell for around $340 on the secondary market after taxes and fees are applied.
“Those four pairs of counterfeit shoes were all purchased within a short two-month period on StockX’s platform, all had affixed to them StockX’s ‘Verified Authentic’ hangtag, and all came with a paper receipt from StockX in the shoe box stating that the condition of the shoes is ‘100% Authentic,’” Nike claims in the court filing with the Southern District of New York.
StockX sells shoes, apparel and other items from various brands, including but not limited to Nike, Adidas
ADS,
and Under Armour
UAA,
The merchandise is not owned by StockX at the time of sale; instead the sale is conducted between two individuals who agree on a price, and StockX acts as a middle man to authenticate the product, for a fee.
Both Nike and StockX were not immediately available for comment on the new counterfeit allegations.
Nike initially hit StockX with a trademark-infringement lawsuit in February, accusing the company of violating trademark law by selling non-fungible tokens, aka NFTs, with Nike’s logo. in fact, the “Patent Bred” Air Jordan 1 High OG that Nike claims to have to have bought counterfeits of on StockX’s site, is also one of the eight Vault NFTs that StockX is selling — and its best-selling NFT — which Nike claims infringes on its copyright.
When discussing the trademark portion of the lawsuit, StockX claimed Nike had shown a “fundamental misunderstanding” of NFTs by suing them.
After receiving a $3.8 billion valuation, the Detroit-based sneaker resale platform recently tapped Morgan Stanley
MS,
and Goldman Sachs
GS,
as it prepares to go public at some point in 2022, according to Bloomberg.
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