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Ebay cements focus on $1bn sneaker market with authenticator acquisition

The details of the deal were not disclosed. (Source: Ebay Inc.)

Ebay has picked up Sneaker Con Digital: a business it had partnered with to power its Authentication Guarantee on sneaker sales across the globe.

The details of the deal were not disclosed.

The online marketplace launched its Authenticity Guarantee last year in the US and in May in Australia, allowing customers who purchase sneakers to have the items passed through dedicated authentication centres in New York or Las Vegas for physical inspection – by Sneaker Con – and to have international delivery fees waived, allowing eBay to open up the US sneaker market to Australians.

The product is shipped with a unique NFC tag which shows a digital authenticity certificate to the buyer, showing product details and date of authentication, at no extra cost.

“The response to [this] authentication offering has been overwhelming, and this acquisition allows us to continue to transform eBay and bring a higher level of trust and confidence to every transaction,” said Jordan Sweetnam, SVP and GM of Ebay North America.

According to a report in AFR, the initial launch of the sneaker service saw sales of luxury sneakers grow in triple digits during the first three months it was available.

Brooke Eichhorn, Ebay Australia’s head of luxury and consumer selling, estimated the sneaker market in Australia to be worth over a billion dollars and expanding rapidly.

“[Our] Authenticity Guarantee gives sneakerheads certainty they’re getting the real deal and we’re already seeing buyer confidence drive growth in the category,” Eichhorn told Inside Retail.

“Our tags offer secure digital authenticity certificates, meaning that they can’t be copied or tampered with, while also providing information on the item you bought such as the product, size, SKU and even how much it’s currently selling for.”

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