The capital injection will be used to strengthen the e-commerce company’s position in the US market. The round was led by Gobi Partners, Pacific Century Group, and Complex China.

Kicks Crew, founded by Hong Kong-natives Johnny Mak and Ross Adrian Yip in 2008, aims to make sneaker culture more inclusive, a point of difference in a sector that has long been focussed on limited edition drops and luxury offerings. The platform works directly with retailers of the brands it carries in order to guarantee authenticity.

“Global adaptability and an ever-evolving mindset have always been in our DNA. With that in mind, we built a platform answering to a diverse community of shoppers seeking products of different functions and price points,” current chief operating officer Yip said, adding the platform now offers more than 400,000 styles.

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Sneaker Market StockX Taps Morgan Stanley, Goldman for IPO

StockX, an online exchange for sneakers and streetwear brands, is working with Morgan Stanley and Goldman Sachs Group Inc. on its planned US initial public offering, according to people with knowledge of the matter.