Categories Consumer

Farfetch (NYSE: FTCH) buys sneaker marketplace Stadium Goods

Online luxury fashion platform Farfetch Limited (FTCH) announced that it acquired sneaker marketplace Stadium Goods for a deal valued at $250 million.

The consideration payable by Farfetch in cash and Farfetch shares will exactly be determined at completion following customary adjustments.

“Having already collaborated with its exceptional team via the Farfetch marketplace, it is clear that there is a great opportunity for our two companies to leverage each other’s strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion,” Farfetch CEO José Neves said about the deal.

While Stadium Goods looks to benefit from Farfetch technology, logistics and data, the latter would gain from the Stadium Goods brand along with access to supply and staff who have already dealt with luxury streetwear.

Founded in 2015 by John McPheters and Jed Stiller, Stadium Goods is a premium sneaker and streetwear marketplace which deal with new and deadstock products. Estimates claim that premium sportswear market was worth $70 billion in 2017, a segment largely incremental to Farfetch’s existing market.

Stadium Goods has been on the Farfetch marketplace since April 2018. Following the acquisition, Stadium Goods would continue to operate as a standalone brand on the platform, while its inventory will be available on the Farfetch marketplace across all regions.


We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Viewing Highlight