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Nike Says StockX Is Selling Fake Sneakers, Requests Amendment to Lawsuit

Tim Daniels@@TimDanielsBRFeatured Columnist IVMay 11, 2022

AP Photo/Alan Diaz

Nike has asked a federal judge to allow the company to add counterfeiting and false advertising claims to its preexisting trademark lawsuit against StockX.

Bloomberg's Chris Dolmetsch reported Tuesday that Nike's lawyers alleged in a court filing they were able to obtain four pairs of shoes sold as authentic on the online marketplace that were actually fake.

Brendan Dunne of Complex provided further details:

brendandunne @brendandunne

Nike lawyers say they obtained fake pairs of Air Jordans on StockX, slamming the platform’s authenticity guarantee in their lawsuit. <a href="https://t.co/KRm14CqIMV">pic.twitter.com/KRm14CqIMV</a>

Nike filed the original lawsuit against StockX in February, arguing the retailer's sale of non-fungible tokens (NFTs) featuring pictures of Nike products was a violation the company's trademarks.

It also stated "doubts about the legitimacy of StockX's model" hurt the Nike brand.

StockX responded to the allegations in March by saying Nike had a "fundamental misunderstanding" of NFTs and called the claims in the lawsuit "baseless and misleading."

With the sneaker game having exploded over the past decade, StockX announced in April 2021 it had reached a $3.8 billion valuation.

StockX has yet to comment on Nike's latest allegations, per Dolmetsch.

In January, StockX hired Morgan Stanley and Goldman Sachs for guidance as it prepared to take the company public at some point in 2022.

The retailer doesn't own the items sold on its exchange, but rather provides authentication services to help facilitate sales between buyers and sellers.

While it's become mostly known for brand-name shoes and clothing, it features a wide range of products.

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