Stadium Goods secures 4.6 million dollars in funding

Stadium Goods, the global sneaker and apparel marketplace, has secured 4.6 million dollars in new equity funding to help fuel its expansion.

In a statement, Stadium Goods said that the financing led by Forerunner Ventures (Warby Parker, Dollar Shave Club, Jet.com) and also includes The Chernin Group, would help it expand further into the mainstream footwear market.

Mark Cuban, owner of the Dallas Mavericks, is also involved as a partner and adviser, but is not an investor.

“Stadium Goods has transcended a seemingly niche market, proving that they can be a critical player in the larger global athletic footwear retail market,” said Kirsten Green, founder at Forerunner Ventures. “There hasn’t been a company of its kind offering this level of aesthetic, product mix or services to date, so we’re very excited to partner with them.”

Founded by John McPheters and Jed Stiller in late 2015, Stadium Goods offers sneaker consumers around the world highly coveted footwear, apparel and lifestyle goods via its website and its two retail stores in New York. In addition, it has partnered with Alibaba Group’s Tmall Global to sell its products directly to overseas consumers and to enter China's rapidly growing online retail market.

“In just over a year in business, we’ve experienced tremendous growth and, more importantly, helped to legitimise the resale model by making it more relevant and accessible to all types of consumers,” said Jed Stiller, co-founder and managing partner of Stadium Goods. “We’re thrilled to have found the perfect partners in Forerunner Ventures and The Chernin Group, among others, to build on our successes to date as we look to scale and innovate rapidly.”

Image: courtesy of Stadium Goods