KYX World (KYX) just changed the shoe game by launching the world’s first online sneaker subscription service for authentic, limited edition sneakers. A try-before-you-buy and no-commitment platform, KYX World’s subscription aims to remove the frustrations experienced by consumers from the sneaker resale market.
The global sneaker industry is expected to reach nearly $100 billion by 2025. On the other hand, the United States sneaker resale market alone has an estimated value of $2 billion.
KYX currently has 900+ active subscribers and expects to reach 4,000 by the end of the year. The company recently received nearly $2 million in seed funding, which will be used to fund the platform, its growing sneaker inventory, customer acquisition costs, and software development that will enhance the user experience.
Some customers just want to experience a pair of hot new kicks without the responsibility of purchasing them at the markup resale price. KYX offers everyday customers accessibility to limited-release sneakers at an affordable price.
How the Sneakers Subscription Works
KYX’s inventory includes over 275 sneaker styles for both men and women, ranging from $200 to $2,000 on the resale market. Depending on the plan, customers can opt to receive brand new or lightly worn shoes.
A few popular stocked styles include Air Jordan Off-White x 5 SP Sail, Air Jordan Union LA x 4 Retro Off Noir, and Adidas Yeezy 700 V3 Clay Brown. If a certain sneaker style isn’t available, KYX encourages customers to directly contact the company’s digital concierge, Sloan.
KYX World offers four subscription plans for brand new shoes. Level 1 through 4 ranges from $99/month to $599/month with higher tiers increasing the number of sneakers a consumer can rent, accessibility to styles and more.
For lightly worn sneaker rentals, Level 1 is $49/month, Level 2 is $129/month, Level 3 is $249/month, and Level 4 is $399/month. Lightly worn sneakers also undergo a rigorous cleaning process using equipment and technology from Reshoevn8r.
Customers have one month to decide whether they want to renew their plan and keep using the same pair, purchase the sneakers, or swap them out. “You can always buy what you’ll know you’ll love, but now, with KYX, here’s a way to try out all the latest heat while saving space and money,” says Jeff Staple, sneaker connoisseur who has worked with Nike and Puma, and KYX’s Executive Creative Director.
KYX also provides prepaid shipping labels and boxes with its subscription to make the process of returning easier and more convenient.
“I believe KYX can and will become the platform where people from all walks of life go for their favorite sneakers,” says co-founder and CEO Brian Mupo in a press release. “KYX serves as an authentic and inclusive representation of street and sneaker culture in a way the community does not currently reflect.”
Consumer Habits & the Resale Market
Sneaker resellers are people who purchase unworn, limited edition shoes to sell for a profit. There is an entire sneaker subculture called “Sneakerheads,”, or sneaker enthusiasts, that go crazy for deadstock (unworn) sneakers. This community considers sneakers to be an important facet of their identity, according to a study published by Fashion and Textiles.
Sneaker resale is so popular that new marketplaces have emerged. StockX, headquartered in Detroit, Michigan, is a stock market for bidding and selling apparel, collectibles, electronics, and, of course, sneakers. The company was recently valued at nearly $4 billion after completing a new funding round and plans to go public later this year.
Despite the resale market being on a steady incline, Mupo believes that his subscription service is “the answer to a growing issue,” according to an interview with Footwear News.
“Resale prices are spiraling out of control, and hype is at an all-time high. It’s an advantageous time to launch a company like this, to provide an alternative to what is becoming a large source of frustration.”
Consumers — now more than ever — are interested in usership rather than ownership. Ownership fatigue is a real thing, and people are looking to release the burden of owning material goods and instead developing stronger relationships with their most loved products.
KYX’s subscription debut is the latest innovative approach to changing the way people buy things, specifically sneakers. Subscriptions have proven to be a leading factor in the reshaping of industries. The subscription industry’s revenue has grown by more than 400% in the last 10 years.
Staple agrees with KYX World’s CEO that it chose the most ideal time to launch because of the changing habits of customers, according to Footwear News. People want to own fewer things and live more sustainably. By opening the doors for customers who otherwise wouldn’t be able to experience limited edition sneakers, KYX World is establishing a trusted community with those subscribers and reshaping the industry.
- KYX World is the first online sneakers subscription platform where customers can choose to receive brand new or lightly worn shoes.
- It’s a try-before-you-buy and no-commitment platform targeting everyday customers to offer them accessibility and affordability to limited edition sneakers in comparison to resale markup prices.
- KYX will use its recent $2 million seed funding towards the platform, inventory, and enhancing the user experience.
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