Goat Group acquires resale site Grailed
18 October, 2022
Goat Group, which includes sneakers, apparel and accessories brands Goat, Flight Club and Alias, has confirmed that it is acquiring Grailed, the community-driven marketplace for men's luxury, streetwear and vintage fashion, in a cash and stock deal.
In a statement, Goat Group said that the acquisition would allow it to accelerate its rapidly growing apparel and accessories categories and would form a combined global community of more than 50 million members across 170 countries.
Eddy Lu, co-founder and chief executive of Goat Group, said in a statement: "Grailed is a leader in the men's fashion resale market with a strong community of style enthusiasts. We have always admired what they created for the fashion industry, and we will continue to build upon their strengths and position as a leader in the space. “Together, we'll advance our collective mission to bring the greatest products together from the past, present and future, while also delivering innovative and memorable experiences to our community around the world."
The move follows Goat Group’s investment in Grailed in September 2021.
Goat Group looking to expand apparel and accessories with Grailed acquisition
Since launching its apparel and accessories offering in 2019, Goat Group has reported “significant growth” in these categories, with order volume more than doubling in the last 12 months. It adds that the acquisition of Grailed will help the group further accelerate growth in these segments for both companies, while also “providing a deeper catalogue of products and an expanded global community of enthusiasts”.
Grailed, founded in 2013, is a peer-to-peer site offering rare luxury, streetwear and vintage fashion. It offers a highly curated selection of resale pieces including brands such as Supreme, Raf Simons, Gucci, Saint Laurent, Balenciaga, and Prada.
Arun Gupta, co-founder and chief executive of Grailed, added: "With its uncompromising brand identity, Goat Group is the perfect complement to Grailed's cutting-edge community of fashion enthusiasts.
"Goat Group stands out in the industry as the right partner to help make fashion more accessible to the global style community."
The transaction is subject to appropriate regulatory approvals and other customary closing conditions. The deal is expected to close within approximately 45 days and, until that time, the two companies will continue to operate independently.
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Source: fashionunited.uk