eBay is bringing a dose of authenticity to a street that has been a longtime hub for bootleg, counterfeit and gray-market goods.
The online marketplace is opening a pop-up selling authenticated streetwear and sneakers on Canal Street in downtown Manhattan. The store, called “Canal Street Wear,” will be open for two days: Friday, Nov. 3 and Saturday, Nov. 4, from noon – 7 pm ET.
Shoppers will have access to authentic items from top brands curated by top-rated eBay sellers, and verified by the eBay Authenticity Guarantee. The company extended the guarantee to streetwear in June 2003. Streetwear is the sixth product category eBay provides authentication for, following sneakers, luxury watches, luxury handbags, luxury items directly from brands and authorized resellers, and sports memorabilia.
The streetwear industry is estimated to be worth more than $180 billion, according to Mintel, “Sneakers and Streetwear, U.S. 2022.” Global searches for streetwear on eBay have increased by more than 150% since the beginning of the year.
“Enthusiasts go to eBay to find every drop from the past few decades, from late 90’s Supreme and Virgil era Louis Vuitton, to younger brands like Palace and Aimé Leon Dore,” said Charis Marquez, global VP of fashion at eBay. “Expanding Authenticity Guarantee to streetwear brings peace of mind that every item is the real deal and furthers our efforts to make eBay the most trusted destination for streetwear. Canal Street Wear highlights eBay’s incredible selection and commitment to authenticity.”
eBay seeks to inspire trust
In addition to expanding its authenticity services, the e-commerce giant has taken a number of other steps to help assure buyers they are obtaining genuine merchandise. eBay recently launched Verified Condition, a new suite of offerings and protections for heavy equipment transactions on its marketplace
And in February 2023, the e-tailer introduced eBay Guaranteed Fit, which provides a green “Fits” compatibility checkmark on select auto parts and accessories listings to help customers determine whether the part will fit their specific vehicle.
eBay also recently purchased 3PM Shield LLC, a provider of artificial intelligence (AI)-based marketplace compliance solutions. In addition, the company has opened the eBay vault, a secured, temperature-controlled facility and digital marketplace for collectors. Once an item is in the eBay vault, ownership transfers from seller to buyer in a matter of seconds, without the need to re-authenticate or ship the item anywhere.
Funded in 1995 in San Jose, Calif., eBay Inc. enabled nearly $74 billion of gross merchandise volume in 2022.
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