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Farfetch adds sneaker marketplace to the mix

Published 12/12/2018, 09:53 AM
© Reuters. Farfetch adds sneaker marketplace to the mix
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  • Farfetch (FTCH +2%) announces the acquisition of Stadium Goods for an enterprise value of $250M.
  • The company is paying out a mix of cash and Farfetch shares for the premium sneaker and streetwear marketplace.
  • Stadium Goods has been participating in the Farfetch marketplace since April. "By leveraging Farfetch's best-in-class cross-border logistics and technology, as well as their luxury prowess, scale and customer base, we will be in a prime position to capitalize on the massive international demand for sneakers and streetwear," says Stadium Good Co-CEO John McPheters.
  • Stadium Goods has a vibrant social media presence, which could provide an instant benefit for Farfetch.
  • The acquisition is expected to be close in the first quarter of 2019, when Stadium Goods will become a wholly-owned subsidiary of Farfetch.
  • Source: Press Release
  • Now read: MOGU IPO: Interesting But Quite Expensive Online Fashion Company


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