Companies

GOAT Group acquires resale platform Grailed

Oct 19, 2022 United States

The marketplace group has acquired Grailed, the resale platform for men's luxury, streetwear, and vintage fashion. This move will enable GOAT to accelerate its apparel and accessories categories' growth

This acquisition is expected to accelerate growth in the apparel and accessories offerings for the two companies, as it brings together a combined global community of over 50 million members across 170 countries. The GOAT group, which was founded in 2015 as an online platform focused on sneakers, expanded into the apparel and accessories categories in 2019, and, since then, "has experienced significant growth", with the order volume more than doubling in the last 12 months.

"Grailed is a leader in the men's fashion resale market with a strong community of style enthusiasts. We have always admired what they created for the fashion industry, and we will continue to build upon their strengths and position as a leader in the space. Together, we'll advance our collective mission to bring the greatest products from the past, present and future, while also delivering innovative and memorable experiences to our community around the world", commented Eddy Lu, Co-Founder and CEO of GOAT Group

"With its uncompromising brand identity, GOAT Group is the perfect complement to Grailed's cutting-edge community of fashion enthusiasts", standing out "in the industry as the right partner to help make fashion more accessible to the global style community", added Arun Gupta, Co-Founder and CEO of Grailed. This transaction follows GOAT's investment in Grailed in September 2021.

Image Credits: hypebeast.com

United States Acquisitions Companies ecommerce Online Resale