Sneaker marketplace Goat Group Inc. acquires streetwear sales site Grailed to further expand into the apparel industry.
Since launching its apparel and accessories range in 2019, Goat has “experienced significant growth in these categories, with order volume more than doubling over the past 12 months,” the company said on Monday. Now the marketplace is strengthening the division with the takeover, which was completed in the form of a cash and stock deal. More details about the total were not disclosed.
“Grailed is a leader in the menswear resale market with a strong community of style enthusiasts,” said Eddy Lu, co-founder and CEO of Goat Group. “We have always admired what they have created for the fashion industry and we will continue to build on their strengths and position as leaders in this space. Together we will advance our collective mission of bringing together the best products of the past, present and future while delivering innovative and memorable experiences to our community around the world.”
Goat previously invested in Grailed in September 2021, leading a $60 million funding round that also included participation from Groupe Artemis and Gucci CEO Marco Bizzarri.
This post was updated with a press release on October 17, 2022.