According to an official press release, the investment is the largest ever by a retailer buying into the secondary sneaker market, and it represents Foot Locker’s most lucrative investment to date.
Foot Locker’s Chairman and CEO Richard Johnson says the move will allow the global sneaker retailer to ‘bring sneaker and youth culture to people around the world’.
Both brands will work together to optimise their various platforms to improve customer experiences, utilising Foot Locker’s global retail presence and GOAT Group’s digital prowess.
‘We are excited to leverage GOAT Group’s technology to further innovate the sneaker buying experience and utilise their best-in-class online marketplace to help meet the ever-growing global demand for the latest product,’ says Johnson. ‘Together, Foot Locker and GOAT Group’s shared commitment to trust and authenticity in the sneaker industry will provide consumers with unparalleled experiences and diversified offerings.’
GOAT Group has now raised total funding of $197.6 million USD, which has been accumulated over four years since the online/app-based marketplace started in 2015. Safe to say, when it comes to the sneaker apps, they really are the GOAT...