The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The sneaker and apparel marketplace has raised $195 million in a Series F funding, led by a group of investors including Park West Asset Management, funds advised by T. Rowe Price and Franklin Templeton, amongst others.
Parent company Goat Group’s valuation is now more than double its September 2020 valuation, the company said in a statement.
Goat is one of the rising players in the sneaker resale market. Goat competes against Stadium Goods, which was acquired by Farfetch for $250 million in 2018, and StockX, which has a valuation of $3.8 billion following an April round of fundraising.
Goat said it sold $2 billion worth of product over the last 12 months, and that its sneaker sales have doubled. It began selling luxury apparel in 2019, and the company said fashion sales grew 500 percent over the same time period.
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Goat said it will use its latest funding to expand internationally. It will open new fulfilment centres in Chicago, China, Japan and Singapore.
To read more about the booming men’s resale market, read BoF’s analysis from March here.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.
The performance coach and Allbirds’ co-founder discuss the transformative power of togetherness in fostering a culture of excellence.