The London-based international fashion platform, Farfetch, is acquiring Stadium Goods, an online sneaker and street apparel store. Thus, a major player in the field of online trading in fashionable goods will expand its offer in the category of clothes and shoes street-style, which continues to grow, writes Worldfootwear.com
The transaction value should be $ 250 million. The transaction will be completed in the first quarter of 2019.
“The Stadium Goods team has assembled an incredible team of talented people, many loyal and loyal customers and managed to build a great brand. I am sure that we will be able to help Stadium Good expand its international presence for the sale of sneakers worldwide, thanks to our technological expertise, logistics and information component. Farfetch, in turn, will gain access to supplies and a team of people knowledgeable about the street-style premium market. We look forward to starting work with John, Jej and the rest of the Stadium Goods team, ”commented José Neves, founder, CEO and co-chair of Farfetch.
John McPheters, co-founder and co-manager of Stadium Goods, in turn, said: “I Jed and our entire team are happy to join the Farfetch family and take the next step in our development as a global brand and seller. Using the best-in-class logistics system of cross-border trade and Farfetch technology, as well as the scale and customer base in the luxury goods trade, we can maximize the benefits of international demand for street-style sneakers and clothes. “Jose and his team share our views on the future of fashion and retail, and together we believe that the many options for successful interaction and the complete coincidence in terms of cultural views will make our cooperation very successful.”
The online platform for selling premium class sneakers (new, never before and used) and street-style clothing Stadium Goods was founded in 2015 by John McPheters and Jed Stiller. The premium sportswear market reached $ 2017 billion in 70. Stadium Goods has been developing partnerships with Farfetch since April 2018, and has been demonstrating strong sales growth since its launch on the Farfetch platform. After the acquisition, Stadium Goods will continue to work as an independent brand on the Farfetch platform, which will be headed by the previous management team. Stadium Goods products will be fully integrated into the Farfetch system and presented on the Internet platform of the marketplace in all countries of Farfetch's presence.