Farfetch has purchased streetwear market place, Stadium Goods, for a total value of £250 million, which will be payable via cash and shares.
The move is set to give Farfetch larger access to the men’s streetwear market.
Stadium Goods will continue to operate as a standalone brand on the Farfetch platform, and still be led by its existing leadership team.
José Neves, founder, CEO and co-chairman of Farfetch said, “I am confident that we can help Stadium Goods grow its international presence for sneakerheads around the world through our expertise in technology, logistics and data. Farfetch will benefit from Stadium Goods' brand, access to supply and a team with a strong passion for and knowledge of luxury streetwear.”
John McPheters, Stadium Goods co-founder and co-CEO, added: "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.”
