fashion

Fashion platform Goat secures investment from Groupe Artemis


Fashion platform Goat secures investment from Groupe Artemis

Sneaker and apparel platform Goat has secured a strategic investment
from Groupe Artemis, the holding company founded by Kering boss
François-Henri Pinault.

The amount of the investment was not disclosed, but Goat said it will
use it to support its continued expansion in fashion apparel and new
categories.

The investment follows Goat’s Series E funding round of 100 million
dollars announced in September 2020, which valued the company at 1.75
billion dollars.

“Goat has established a rapidly growing, distinctive brand with tens of
millions of younger luxury consumers, and our investment reflects our
belief in their business model and the power of their technology and
platform to tell the story of our brands,” Pinault said in a statement. “We
see significant opportunities for expanded partnerships and many synergies
between Goat and our portfolio of brands.”

Founded in 2015 as a platform exclusively for sneakers, Goat has since
expanded into other categories including apparel and accessories.

The platform features over 350 brands and has 13 physical locations in
the US, Asia, and Europe, including distribution and authentication centers
that ship products to 170 international markets.

“Groupe Artemis is one of the most influential and prestigious investors
in luxury fashion, and their investment is another important step as we
double-down on our expansion in apparel and new categories,” said Goat CEO
and co-founder Eddy Lu.

He continued: “As a strategic investor in Goat, Groupe Artemis will help
us further accelerate our growth, particularly in fashion apparel, as we
continue to drive forward with our mission to bring the greatest products
together from the past, present and future.”

Photo credit: Goat



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