As I’ve mentioned before, i like sneakers. I like the sight, feel, and smell of them (no, I’m not one of the guys on YT and IG you see licking the outsole of my kicks, but you get the idea).
One of the reasons I began recording my thoughts here was to help figure out what now? My background is in Civil Engineering (roads & bridges) for which i’m grateful, but not inspired about. While pondering this question, i kept coming back to my appreciation for those foam, rubber, and leather articles that go on our feet.
After a few conversations with close confidants, i decided to run with an idea i’ve bounced around in my head for the better part of a decade. The result: Footwear Commodities Exchange (www.footwearexchange.com).
So what? An honest question. Sneakers are a big deal, and have been for quite some time. With all things good, come individuals who seek to take advantage and profiteer. Gone are the days of driving to the Mall or your neighborhood mom and pop store to scoop the latest pair of Air Jordan’s or Dunks. Re-Sellers (an individual who makes a living buying up all or the majority stock of a desirable item, only to “re-sell” it for a considerable mark-up. Think 100% – 200% of MSRP) have ruined things, camping outside of said establishments for days on end. If you manage to sidestep the Re-Sellers, keep a watchful eye for the exploding counterfeit market. Due to the swelling demand and ever shrinking supply, our friends in the factories of these multinational corporations have taken advantage of a golden opportunity: make “Grey Market”, “Replicas” (whatever the moniker, they’re fake) shoes and pass them off as authentic. Some of these offerings have come so close to the real thing that even the most experienced eye can be fooled.
Footwear Commodities Exchange (FoComEx) takes a different approach to this shoe phenomena. Shoes are a commodity (no different from silver, corn, or natural gas) that bought/sold/traded just the same. The problem arises in the fact that there has not been a regulated and monitored exchange where business can be transacted safely and securely, until now.
FoComEx not only provides a marketplace for users to buy/sell/trade footwear related commodities safely and securely, it offers the following:
- Zero Tolerance of Fraud and Suspicious activity
- Authentication & Verification Services
- Commodities Insurance
- Market base pricing history
- Commodities Futures
If you’re into sneakers, or just curious what this is all about, come see for yourself.
fo_com_ex (on Instagram)