It’s no secret that money has been pouring into streetwear and sneakers lately. Looking at brands, notable acquisitions in recent years include Stone Island joining Moncler and the $2.1 billion USD deal between VF Corporation and Supreme. Now, according to a report from Bloomberg, GOAT Group is set to acquire peer-to-peer streetwear resale platform Grailed. This move follows Goat Group’s investment in the platform in 2021 and is a response to the ever-growing secondhand market that brands such as Balenciaga have begun targeting.
For those unfamiliar with either platform, Grailed works uniquely from the GOAT App. Both feature the most sought-after sneakers and streetwear, however, Grailed doesn’t have a middleman in its transactional process. Now, while GOAT Group has shared that it does not intend to combine the GOAT App with Grailed, it has been reported that GOAT’s operations infrastructure such as shipping and payment systems will be integrated. What this means for current Grailed users is that the identity of Grailed as a peer-to-peer platform should remain while some of the backend may change.
Expect more news from GOAT Group regarding its handling of the consolidation in the coming weeks. Changes to Grailed and its systems will likely follow after.
For more in the world of footwear, check out Nigel Sylvester’s new Air Jordan 1, as seen on-foot during his Nigel Sylvester: GO book launch at HBX.
Source: Read Full Article