GOAT RAISES USD 100 MILLION TO FUND EXPANSION PLANS

©GOAT Group

GOAT Group, a Los Angeles, California-based apparel and sneaker retailer, has raised USD 100 million in a Series E round from D1 Capital Partners, continuing to accelerate the company's growth across its product categories and geographies.

GOAT, the global platform for the highly sought-after products, has 30 million members and 600,000 sellers of over 350 brands across sneakers, apparel and accessories. Founded in 2015 to bring trust to the sneaker market, the company has expanded into adjacent categories including apparel and accessories from select emerging, contemporary and iconic brands. Today, GOAT operates 13 physical locations in the U.S., Asia, and Europe, including distribution and authentication centers that ship products to 170 international markets.

Inclusive of the funding from D1, the company has raised nearly USD 300 million from venture capital and strategic investors including Accel, Index, Upfront Ventures, and retailer Foot Locker, which last year invested USD 100 million in the company.

The additional capital will accelerate the company's growth across its product categories and geographies, further positioning GOAT as the preeminent destination for its members, sellers, as well as brand and boutique partners. GOAT plans to invest more to be a bigger platform for fashionable apparel and accessories beyond sneakers, including items sold directly by brands. For instance, Alexander McQueen that used Goat to help introduce its MCQ label of jackets, dresses and other apparel.

"Our mission is to bring the world's greatest products together from the past, present and future, while providing a premier end-to-end customer experience with a point of view on culture and style," said Eddy Lu, co-founder and Chief Executive Officer of GOAT. "We will utilize this new round of funding to capture the significant market opportunities in sneakers, apparel and additional categories through technological innovation and by building even greater scale across our verticals" added Lu.

The company will also seek to differentiate itself from other marketplaces, such as Klekt and StockX, or Stadium Goods, which was acquired by Farfetch, by curating products and collections that fit its brand sensibility, Lu added. “We are not a broad-based marketplace that will sell any tchotchke in the world. We want to have a point of view on fashion, culture and style.”