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 reseller said it would spend the cash injection (an undisclosed sum) to accelerate growth, double down on its apparel and accessories offering and expand into new categories. Funding from Artémis, the investment vehicle of Kering chief executive François-Henri Pinault, bolsters Goat’s existing relationship with the luxury group; some of its brands, including Alexander McQueen and Balenciaga, already have direct partnerships with the resale site. Goat is currently valued at $1.75 billion after it raised $100 million in a Series E funding round in September 2020.
Brands are using them for design tasks, in their marketing, on their e-commerce sites and in augmented-reality experiences such as virtual try-on, with more applications still emerging.
Brands including LVMH’s Fred, TAG Heuer and Prada, whose lab-grown diamond supplier Snow speaks for the first time, have all unveiled products with man-made stones as they look to technology for new creative possibilities.
Social networks are being blamed for the worrying decline in young people’s mental health. Brands may not think about the matter much, but they’re part of the content stream that keeps them hooked.
After the bag initially proved popular with Gen-Z consumers, the brand used a mix of hard numbers and qualitative data – including “shopalongs” with young customers – to make the most of its accessory’s viral moment.