SINGAPORE, February 15, 2021: Ox Street, Singapore’s leading online integrated sneaker-focused marketplace has expanded to enable sellers in Malaysia and the Philippines to connect with its rapidly growing base of buyers across the region. Ox Street has been noted for its success in enabling buyers and sellers in Southeast Asia to enter the resale space, allowing thousands of buyers across the region to purchase authentic rare and collectible items.
Commenting on the expansion, Ox Street, founder, and CEO, Gijs Verheijke said: “Our journey in the last 18 months has been extraordinary, and our launch in Malaysia and the Philippines marks the start of our further expansion in the region. The priority is to continue to keep Ox Street’s Asian credentials in order to help us grow our market share in the region. Our core focus is its product and service-driven approach which is apparent in our success to date. “
Consumers can buy and sell all the world’s most coveted sneakers on the Ox Street platform in more than 8 markets across the region, making it a category leader in the Southeast Asian market. Sneaker brands sold on Ox Street include coveted designs from Nike, Air Jordan, Yeezy, and adidas.
The company’s expansion is supported by a successful bridge round bringing Ox Street’s total funding raised above 1 million USD. Ox Street has been able to grow strong pandemic, due to the change in consumer behaviors and buying habits. The firm has seen >35% monthly growth from June to Dec 2020. Analysts predict the resale industry will grow to $64B USD by 2025, (source: https://www.thredup.com/resale/) with Southeast Asia leading the way.
The demand for Ox Street is credited to the rise of Gen Z Asian investors, collectors, fashion conscious consumers, who are reaching their peak in terms of spending power. They are breaking down all negative connotations often linked to re-sale, reinventing the fashion and luxury sectors.
“We are the only regional player in the space with a mobile app, and one that is design and UX driven in their product. All this is making a difference to create a modern and go-to brand for our Asian audience. We have built a trusted platform for buying and selling the best limited-edition sneakers and we look forward to a positive and successful 2021.” says Verheijke
Ox Street offers a seamless experience for sellers and buyers, enabling customers to purchase limited-edition sneakers and vintage finds easily. With the growing problems of counterfeit sneakers, Ox Street acts as a safeguard for sellers and buyers, ensuring the authenticity of all items sold.