Farfetch, the London based luxury e-commerce marketplace is looking to extend its reach in the every growing streetwear market. To accomplish this, the company has announced today (Dec 12) that it bought New York Based sneaker shop Stadium Goods.
The two companies first partnered on a partnership deal back in April 2018, and once this acquisition is finalized Stadium Goods selection of limited sneakers will be available everywhere Farfetch’s reach extends to. While having access to its parent company’s logistics tools and delivery options, the sneaker store will operate on an independent basis.
Speaking on the acquisition, Farfetch’s Founder, CEO, and Co-Chairman José Neves stated:
“We are thrilled to welcome Stadium Goods to the Farfetch family. 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.
“The Stadium Goods team has built an incredible company, with a host of talented people, dedicated and loyal customers and remarkable brand equity. 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. We can’t wait to get started with John, Jed and the rest of the Stadium Goods team.”
Stadium Goods Co-Founder and Co-CEO John McPheters added:
“Myself, Jed and our entire team couldn’t be more excited to join the Farfetch family as we enter the next stage in our evolution as a global brand and product offering. 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. José and his team share a similar outlook for the future of fashion and retail, and together we believe the countless synergies and perfect cultural fit will make this a match made in heaven.”
Farfetch’s acquisition of Stadium Goods is the company’s first since picking up CuriosityChina a Chinese digital marketing agency back in July and its purchase of London boutique Browns back in 2015.
Photo: Bennett Raglin / Getty