Singapore-based online sneaker resale marketplace Ox Street is launching a trans-Tasman expansion, opening an e-commerce store in Australia.
“Australia is a perfect fit for the community we want to build in the long-term,” said Gijs Verheijke, founder and CEO at Ox Street. “We see a big supply gap when it comes to Australian buyers having access to the most coveted sneakers, whether they’re hot new drops or all-time classics.”
Verheijke said the company, which was acquired by Carousell last October, has already built a large network of resellers across Australia and New Zealand during the past few years. Ox Street said the emphasis is on enabling faster delivery times and greater access to supply in an industry dominated by US and European megabrands.
The Australasian launch is part of Ox Street’s ambition to build a “global hub for sneakerheads,” Verheijke said. The company’s short term plan is to build brand equity and a large part of that is being trusted to robustly authenticate the products before they reach buyers.
Founded in 2019, Ox Street operates across eight Southeast Asian countries, targeting Gen Y and Z investors, collectors and fashion-conscious consumers. The brand reported sales growth surging more than four-fold during the past year.
As part of the Australia launch, Ox Street has partnered with Sneaker Freaker in an Instagram-based sneaker giveaway worth more than $2000.