Sneaker Reseller GOAT To Acquire Streetwear Marketplace GRAILED

Words by Romana Hai

Sneaker Reseller GOAT To Acquire Streetwear Site GRAILED
Sneaker Reseller GOAT To Acquire Streetwear Site GRAILED

Sneaker platform GOAT is looking to expand its presence in the apparel category with its planned acquisition of streetwear-resale marketplace GRAILED.

After the completion of the deal, GRAILED will continue operating as a standalone brand but will be integrated into GOAT’s operations infrastructure.

According to GOAT’s co-founder and chief executive, Eddy Lu, the company decided to acquire GRAILED because of its ability to offer unique and rare products, ranging from vintage designer sweaters to the most sought-after sneakers that typically cannot be found anywhere else.

“Grailed is a leader in the men’s fashion resale market with a strong community of style enthusiasts,” said Lu. “We have always admired what they created for the fashion industry, and we will continue to build upon their strengths and position as a leader in the space. Together, we’ll advance our collective mission to bring the greatest products together from the past, present, and future while also delivering innovative and memorable experiences to our community around the world.”

The announcement comes at a time when GOAT is seeing its business scale at a rapid clip, positioning the company to expand into new categories and markets. Just over the past year, GOAT has opened retail and warehouse facilities throughout Singapore, Tokyo, and Shenzhen, China. And more recently, the company inked a deal with French football club Paris Saint-Germain to launch new merchandise through its platform.

“We’ve been continuing to see growth across our businesses, especially in apparel and accessories, which have doubled in the past 12 months,” said Lu. “When you’re looking to accelerate growth even further, that’s when consolidation makes sense.”

The company’s acquisition of GRAILED builds on its $60 million investment in the streetwear marketplace in a funding round that was supported by Gucci CEO Marco Bizzarri.

The financial terms of the deal were not disclosed.

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