Stadium Goods is closing its store in New York’s Soho district after ten years.
The US sneaker and streetwear retailer is focusing on its online channels, as Michael Daniel, general manager at Stadium Goods, told the trade magazine Footwear News (FN). The last day of sales is January 19th.
The rental agreement had expired and the decision was made not to renew it, said Daniel. Since its founding, the company’s focus has been on online business and therefore wants to use future investments to continue to grow digitally.
With the closure, the ‘Market Center’ in New York remains the retailer’s only physical location. So far, this has only been a consignment center where external sellers can hand in their “unused, new sneakers and streetwear”. This location is now to be redesigned.
Stadium Goods was founded in 2015 as an online marketplace for sneakers by John McPheters and Jed Stiller. In December 2018, the e-commerce giant Farfetch secured the company for $250 million (equivalent to 221 million euros).
This article previously appeared on Fashionunited.nl and was created using digital tools translated.
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