Goat Group, the parent company of sneaker resale sites Goat and Flight Club, led the Series B funding round for the menswear resale marketplace. Other investors were Groupe Artémis, the Pinault family’s holding company and Gucci chief executive Marco Bizzarri.
Grailed, per a company statement, now has seven million users and over three million listings. The company will use the funding to enhance its authentication process — a pain point for many marketplaces in the fashion resale space. It will also develop new tools for buyers and sellers.
Founded in 2013, Grailed has become an online destination for menswear. Buyers and sellers flock to the marketplace for niche finds like vintage band t-shirts as well as original pieces from Raf Simons, Helmut Lang, and Hedi Slimane for Dior.
That startups like Grailed and Goat Group are now working together speaks to the increasingly competitive nature of resale. The two companies are competing for menswear customers in the resale space, but with this new round of investment, have agreed to share expertise in the name of growth.
Unlike Goat’s 2018 merger with Fight Club, Grailed and Goat will still operate as separate companies, but Goat Group chief operating officer Yunah Lee will join Grailed’s Board of Directors.
The Future of Fashion Resale Report — BoF Insights
BoF’s definitive guide to fashion resale, covering the evolution of the market, its growth and upside, consumer behaviours and recommendations for crafting a data-driven resale strategy. To explore the full report click here.
The Future of Fashion Resale is the first in-depth analysis to be published by the BoF Insights Lab, a new data and analysis unit at The Business of Fashion providing business leaders with proprietary and data-driven research to navigate the fast-changing global fashion industry.
Investors are backing resale platforms that go after niche categories like formalwear, kidswear and outdoors apparel as the resale market continues to grow.