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StockX CMO talks NBA all-star weekend, sneaker partnerships, and IPO plans

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StockX CMO Deena Bahri joins Yahoo Finance Live to talk about creating cultural moments through fashion collaborations and partnerships, building relationships with customers and profiles of consumers, and the future outlook of a StockX IPO.

Video Transcript

BRAD SMITH: Well, as the basketball world shifts its attention to Cleveland, Ohio for All Star Weekend festivities, fashion and culture marketplace StockX is positioning itself in the middle of the action. And joining us live from the StockX factory in Cleveland is Deena Bahri, who is the Chief Marketing Officer of global resale platform StockX. Deena, great to have you here with us today, and thanks for taking some of the time. We know it's busy out there, but talk to us about All-Star Weekend and this investment. Why did this blitz make sense to execute now for StockX?

DEENA BAHRI: Hi, Brad. It's great to be here, and it's such an exciting weekend in Cleveland. The All-Star Weekend is such a great celebration of basketball, but also of community and all of the people who contribute to current culture. We've got fans here. We've got athletes. We've got creators and artists, all coming together in our factory, which is an activation that is playing off of Cleveland's roots as an industrial city and is also playing off the idea that we all contribute to the creation of culture.

And so we're really just trying to create a moment where people can come together, interact. There's customization of product. There's product drops. There's a sneaker dropoff for StockX sellers. And there are partnerships that we're bringing to life with folks like Tiffany's, the Cavs obviously, and Daniel Arsham. So it's really about bringing the community together.

BRAD SMITH: So let's talk about the community that's coming together and StockX as one of the platforms that they continue to have that collaboration, or that sense of community, around as well. StockX seems to have benefited from word of mouth and the limited drops era, if you will, as well. But for the amount of traffic you do see, for the customer acquisition spend that is necessary for partnerships like this with All-Star Weekend, what type of lifetime value do you see from those newly acquired customers?

DEENA BAHRI: Yeah, so we think about our marketing spend in a few ways. The first is spend that cultivates the brand awareness and that sort of beginning of the relationship for the customer with our brand. And then we think about the more ROI-driven marketing spend like the customer acquisition spend you mentioned. And the two really play together to create that journey that begins with a great emotional brand experience then transfers into a more transactional moment where the customer is engaging on our platform, buying things.

And then that relationship endures. While we can't talk about specifics, I can say our goal as an organization is to create longstanding profitable relationships with our customer, and also to create marketing moments that help the customer connect with us emotionally so they want to stick around, they want to tell their friends about us, they want to help be ambassadors for our brand.

BRAD SMITH: It's a very emotional purchase. I can attest to that as a customer as well. You have a very unique position. You're the first-ever chief marketing officer of StockX. What has the data shown you about who the reoccurring customer is in your resale market, and how does that influence your strategic vision for StockX?

DEENA BAHRI: So we have demographically many different segments, many different customer segments. And that's part of the fun of this job, is that you really have to be smart about targeting and tailoring your marketing efforts to our various customers. For example, we have casual buyers and sellers who are really in this space because the products that we sell speak to them, help them express themselves. And then we have people who are effectively running small businesses on our platform-- power buyers, power sellers who really are counting on us to sustain their livelihood. And so we have to cater to both as a marketing organization and as a brand.

But if you step back from the demographics, we really believe that there's a shared psychographic curiosity and a sort of obsession around the idea of current culture and the idea of passion points, ideas, values that intersect in order to help really make a statement about what matters to you, the consumer. And nobody does a better job of teaching brands and teaching StockX about this than the next-gen consumer who's led by the Gen Z customer. This is a very passionate, opinionated, strong consumer who has very clear beliefs and who's not afraid to make them clear. And so we are really focused on serving that audience and helping them bring their passion points together with our brand experience.

BRAD SMITH: This is a big time for StockX, not just because it's All-Star Weekend but also because in the first half of 2022 the anticipation is that StockX will go public. Reports emerging in January that banks were selected. How has perhaps market volatility impacted the anticipated timeline? Has that kind of remained intact, at least as of right now, for a public debut in the first half of this year?

DEENA BAHRI: Well, we are just super focused on executing against our plan for the long term, really creating an amazing viable business for the long-term and serving and delighting our customer. And so what's going on in the market, of course, we're watching it. But what we're most focused on and will remain most focused on is executing well and delighting our customer.

BRAD SMITH: Absolutely. All right, we're going to have to check back in the future. And have a great weekend out there in Cleveland as well.

DEENA BAHRI: I look forward to talking again. Thank you.

BRAD SMITH: Absolutely. We'd love to. That is Deena Bahri, who is the Chief Marketing Officer of StockX, joining us here on Yahoo Finance.