World Footwear

Companies

Foot Locker with strategic investment in Goat Group

Feb 13, 2019 United States
 Foot Locker with strategic investment in Goat Group
US-based athletic retailer Foot Locker is making a 100 million US dollars strategic minority investment in a marketplace for sneakers operating the Goat and Flight Club brands (Goat Group)
Foot Locker and Goat aim to combine efforts across digital and physical retail platforms to create exclusive customer experiences. According to both parties, by combining the power of Foot Locker's global footprint and Goat's digital capabilities will enable the two companies to provide an unmatched experience and elevate customer engagement across the entire sneaker industry. The investment is also expected to help accelerate Goat's global operations, expanding its omnichannel experience and innovative technologies.

"At Foot Locker we are constantly looking at new ways to elevate our customer experience and bring sneaker and youth culture to people around the world", stated Richard Johnson, Foot Locker, Inc.'s Chairman and Chief Executive Officer, adding: "We are excited to leverage GOAT Group's technology to further innovate the sneaker buying experience and utilize their best-in-class online marketplace to help meet the ever-growing global demand for the latest product. 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."

"In 2015, we pioneered the ship-to-verify model with a mission to bring a seamless and safe customer experience to the secondary sneaker market. With over 3 000 retail locations, Foot Locker will support our primarily digital presence with physical access points worldwide, bringing more value to our community of buyers and sellers. Having Foot Locker as a strategic partner will also expand our business as we continue to scale our operations both domestically and internationally", commented Eddy Lu, co-founder and Chief Executive Officer of Goat.

Scott Martin, Foot Locker, Inc.'s Senior Vice President ­­– Strategy and Store Development, will join GOAT Group's Board of Directors. This announcement follows Foot Locker's recent investments in innovative, digital-first companies including leading women's luxury activewear brand Carbon38, tactical play and children's lifestyle brand Super Heroic (READ ALL ABOUT IT HERE), and footwear design academy PENSOLE (READ ALL ABOUT IT HERE).

Foot Locker's investment will bring the total raised by Goat Group to 197.6 million US dollars since it was founded in 2015.

Foot Locker
A specialty athletic retailer operating approximately 3 220 stores in 27 countries in North America, Europe, Asia, Australia, and New Zealand. Through its Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02 retail stores, as well as its direct-to-customer channels, including Eastbay.com, the company is a leading provider of athletic footwear and apparel.

Goat Group

(Link here)

Managed marketplace for authentic sneakers. Its brands offer the greatest selection of sneakers available through company-operated retail stores, e-commerce sites and mobile apps under the Goat and Flight Club brands.

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