- Prachi Singh |
Farfetch Limited has announced the acquisition of Stadium Goods, premier sneaker and streetwear marketplace, for 250 million dollars.
Commenting on the development, José Neves , Founder, CEO and Co-Chairman, Farfetch said in a statememt: "Having already collaborated with its exceptional team via the Farfetch marketplace, it is clear that there is a great opportunity for our two companies to leverage each other's strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion. I am confident that we can help Stadium Goods grow its international presence for sneakerheads around the world through our expertise in technology, logistics and data.”
Farfetch takes over Stadium Goods
Stadium Goods has participated in the Farfetch marketplace since April 2018 , enjoying strong sales growth since its introduction to the platform. Following the acquisition, Stadium Goods will continue to operate as a standalone brand on the Farfetch platform and will be led by its existing management team. Stadium Goods' inventory will be fully integrated into and available on the Farfetch marketplace, across all geographies including the US.
“By leveraging Farfetch's best-in-class cross-border logistics and technology, as well as their luxury prowess, scale and customer base, we will be in a prime position to capitalize on the massive international demand for sneakers and streetwear," added John McPheters , Stadium Goods Co-Founder and Co-CEO.