Farfetch snaps up sneaker marketplace Stadium Goods
An online destination for new and second-hand, but never worn, cult sneakers and streetwear from brands including Adidas, Nike, Palace and Supreme, Stadium Goods has been present on the Farfetch marketplace since April.
The move will give Farfetch greater access to the world of sneakers and men’s streetwear fashion, which has been booming over the last year.
Following the acquisition, the retailer will continue to operate as a standalone brand on the Farfetch platform, and will be led by its existing management team.
José Neves, founder, CEO and co-chairman of Farfetch the acquisition gives the companies the opportunity to “leverage each other's strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion”: streetwear.
“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 will benefit from Stadium Goods' brand, access to supply and a team with a strong passion for and knowledge of luxury streetwear,” he said.
John McPheters, Stadium Goods co-founder and co-CEO, added: "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.”
Copyright © 2021 FashionNetwork.com All rights reserved.