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