Farfetch Just Bought Stadium Goods for a Cool $250 Million
If you’re the type to gripe about paying Stadium Goods’ resale, consider the amount Farfetch just fronted to buy the entire outfit: $250 million USD.
Tech Crunch report that the luxury fashion retailer acquired Stadium Goods in a deal that allows its founders to operate independently. For Farfetch, the turn into sneakers isn’t out of left field. They’ve been selling pairs on behalf of Stadium Goods since early 2018, and the company was founded by José Neves, who also founded footwear brand SWEAR in the 90s. (You can read about how their platform sneakers influenced today’s couture clunk here.)
Stadium Goods’ payment is said to come in a mixture of cash and Farfetch shares, and will join the (much smaller) investment they secured from LVMH in February.