StockX is offering a chance for consumers to buy a No Vacancy Inn x New Balance 650 collaboration in an atypical way.
Today, the “stock market of things” will exclusively launch the No Vacancy Inn x New Balance 650 “Water & WiFi” — which is limited to 400 pairs — via an initial product offering, commonly referred to as an IPO. Starting at 12 p.m. ET, people can participate in a blind auction that allows them to set the market price of the shoe, eliminating the manufacturer’s suggested retail price. According to StockX, this method makes sure consumers will have a fair and equal chance to get a pair at a price they are willing to pay. StockX will then announce the “clearing price” and inform the winners when the IPO closes.
“As a technology company, our roots are in innovation — it is how we have managed to grow StockX into the largest global marketplace of its kind in just four years. It is this commitment to innovation that drives the thinking behind initiatives like our IPOs,” said StockX CMO Deena Bahri said in a statement. “New Balance is not only one of the leading sneaker brands in the world, but our shared belief in the importance of offering consumers direct access, empowering collaboration, and elevating creatives made the partnership a win-win.”
To bring the New Balance 650 collab to life, according to StockX, Tremaine Emory and Brock Korsan of No Vacancy Inn were inspired by the work of furniture designer George Nakashima. They executed the look with earth tones, premium fabrics and clean simple branding. Each pair will come with a USB containing a playlist with music that Emory and Korsan have been listening to during this period of forced isolation.
“The thought process behind this collaboration was based on our love of the New Balance 650 silhouette and our love of gum soles,” Emory said in a statement. “Think George Nakashima out on a run. This collaboration continues our ‘Water and WiFi’ theme, a metaphor for the two things we all need — nature and technology.”