In 2018, buying a genuine pair of hyped sneakers in Southeast Asia meant a gamble - overseas shipping, inflated prices, and the ever-present risk of a fake. Two longtime friends, Richard Xia and Chris Xue, had lived that frustration themselves. Their answer was Novelship: an online marketplace where buyers and sellers meet on a bid-and-ask system, and where no item changes hands until a trained team has physically confirmed it is real.
Today Novelship is one of the region's larger platforms for authenticated sneakers, streetwear, apparel and collectibles - stocking drops from Nike, Jordan, Adidas, New Balance, ASICS, Yeezy and more. It has raised roughly US$21.9 million, counts Snoop Dogg among its advisors, and ships to buyers across Asia-Pacific under a simple operating creed: local first, global second.
What Novelship Does
At its core, Novelship is a two-sided marketplace. Sellers list an item and set an ask; buyers place a bid. When the two prices meet, the deal executes automatically - much like an order book for footwear. The seller ships the item to Novelship, not directly to the buyer.
That detour is the whole point. Before anything reaches a customer, Novelship's in-house authenticators unbox and inspect it - packaging, exterior, interior components and accessories - flagging defects and rejecting anything that fails. Only verified goods move on to the buyer.
The result is a catalogue built around trust rather than hope. For a category where counterfeits are common and a single bad purchase can cost hundreds of dollars, that verification layer is the product as much as the sneakers themselves.
Who It Serves, and the Problem It Solves
Collectors & resellers
Sneakerheads, streetwear fans, resellers and collectors across Singapore and the wider Asia-Pacific region - from first-time buyers chasing a drop to sellers moving inventory.
Authenticity & access
Limited-edition goods are scarce, easy to fake and often hard to source regionally. Novelship tackles both: verified stock plus a marketplace deep enough to actually find what you want.
Trust between strangers
Peer-to-peer resale asks two strangers to trust each other with real money. Novelship sits in the middle as the guarantor, inspecting goods and handling payment and logistics.
How It's Different
Novelship vs the global players
StockX and GOAT built the resale playbook from the United States. Novelship's edge is proximity: it was built in Asia, for Asia, prioritising fast regional shipping over a US-centric roadmap. Ox Street, another regional rival, was folded into the Carousell Group. Below, a plain-language comparison.
| Dimension | Novelship | Global rivals (StockX / GOAT) |
|---|---|---|
| Home base | Singapore, APAC-first | Detroit / Los Angeles, US-first |
| Shipping priority | “Local first, global second” | Global, US-centric |
| Authentication | In-house, every item | In-house verification |
| Packaging | 100% recycled boxes | Varies |
| Regional catalogue | Tuned to APAC demand | Broad but not localised |
Products & Services
The Marketplace
Bid-and-ask platform for sneakers, apparel and collectibles - deals execute when a bid meets an ask.
Authentication
A trained team physically inspects and verifies every item before it ships to the buyer.
Mobile Apps
iOS and Android apps to browse drops, track prices and trade on the go.
Logistics & Consignment
Storage, packing and eco-conscious shipping across APAC, with recycled packaging.
In-house Collection
Novelship-branded accessories: tees, socks, laces and shoe/sole protectors.
Drops & Editorial
Release calendars, price data and news that keep the community close to the culture.
The Business Model
Novelship makes money the way marketplaces do: it takes a cut of each transaction, plus payment-processing fees, and applies non-refundable restocking and processing charges on certain orders. The more liquid the marketplace - more buyers, more sellers, more matched trades - the more it earns.
Authentication and logistics are the cost centres that make that revenue possible. They are also the moat: they are expensive and operationally hard, which is exactly why a large share of the Series B went toward strengthening them rather than flashier marketing.
Funding & Backers
Series B — US$9.5M
Led by East Ventures, with iGlobe Partners and GSR Ventures. Earmarked for logistics, authentication, in-house collections and greener delivery.
Series A
Backed by investors including GSR Ventures and iGlobe Partners as the platform scaled listings and categories.
Seed
Early backing included Global Founders Capital. Total raised to date sits around US$21.9M.
The Story So Far
Founded in Singapore
Richard Xia and Chris Xue launch a marketplace to fix availability and authenticity of sneakers and streetwear in APAC.
Apps & early community
iOS and Android apps roll out as the authenticated resale community takes shape.
First US$1M month
The platform passes 40,000 users and its first million-dollar month despite the pandemic.
Series A
Fresh capital fuels more listings, more categories and a bigger regional footprint.
Broader, more inclusive catalogue
Listings grow ~150% and women-centric SKUs surge ~140%.
Series B, Snoop Dogg & recycled boxes
US$9.5M round led by East Ventures; Snoop Dogg joins as advisor; delivery moves to 100% recycled packaging.
Where It Fits & Fun Facts
Its place in the market
Novelship occupies the authenticated-resale niche in Asia-Pacific - the regional counterpart to StockX and GOAT, competing on shipping speed, local catalogue and trust rather than sheer global scale. Its expertise sits at the intersection of three hard things: marketplace liquidity, physical authentication, and cross-border logistics.
- The co-founders had been friends for around 17 years and failed at two prior startups before Novelship worked.
- Its brand identity was designed to flex to any city, wall or market, letting local colours and textures define its look.
- Snoop Dogg is a strategic advisor - and the catalogue has even featured Skechers x Snoop Dogg Hyper Slides.
- Delivery boxes across every market are made from 100% recycled material.
Frequently Asked
What is Novelship?
A Singapore-based online marketplace for buying and selling authentic sneakers, streetwear, apparel and collectibles, mainly across Asia-Pacific.
Is Novelship legit and are its products authentic?
Yes. Every item sold passes through an in-house authentication team that inspects the product and its packaging before it ships to the buyer.
Who founded Novelship and when?
It was founded in 2018 by Richard Xia (CEO) and Chris Xue (COO), longtime friends who wanted to solve availability and authenticity problems in the regional sneaker market.
How does Novelship make money?
As a two-sided marketplace, it earns commission and processing fees on transactions, plus non-refundable restocking and payment-processing fees on certain orders.
How much funding has Novelship raised?
Roughly US$21.9M in total, including a US$9.5M Series B led by East Ventures in September 2023.