Home Team apparel GOAT Group valuation more than doubled to $ 3.7 billion after the $ 195 million Series F round of funding closes

GOAT Group valuation more than doubled to $ 3.7 billion after the $ 195 million Series F round of funding closes

0


GOAT’s business continued to show strong performance with rapid growth in several categories, reaching a gross merchandise value of $ 2 billion over the past 12 months and a year-over-year increase in sneakers year-over-year GMV of over 100%, as well as a year-over-year increase in clothing GMV of 500%.

“GOAT’s growth is accelerating across all channels and categories due to the powerful global technology platform we have developed and the best-in-class customer experience we deliver, which resonates with young consumers across the country. the whole world, ”said Eddy Lu, co-founder and CEO of the GOAT group. “GOAT is creating a leading, highly differentiated luxury and lifestyle brand uniquely positioned at the intersection of primary and resale markets, allowing us to increase our share of a large and expanding total addressable market in our core sneakers business and new verticals. “added Mr. Lu.

“We are delighted to invest in GOAT. We are excited about its distinct value proposition for customers, ”said Tyras bookman, portfolio manager at Park West Asset Management. “GOAT’s combination of leading e-commerce and brick-and-mortar assets, which include the iconic GOAT and Flight Club brands, allows it to engage its global community in a unique way and seize tremendous opportunities to market in several lifestyle categories, while remaining authentic and true to its values, ”added Mr. Bookman.

“The founders and management team of GOAT have a compelling vision, and we believe they have built a strong brand and platform with significant competitive advantages,” said Jodi love, investment analyst at T. Rowe Prize. “We look forward to working with the company as it continues on its path to sustainable growth.”

GOAT will use the proceeds from the fundraising round to help further invest in the growth of its sneaker business as well as its rapidly growing apparel and accessories verticals, and to increase its global footprint by 13 facilities with the addition of Chicago, China, Japan and Singapore. The company will also continue to focus on providing a trusted end-to-end experience to its 30 million members and 600,000 vendors by making significant additional investments in its technology and brand.

About the GOAT Group
GOAT is the global platform for the best products of the past, present and future. Since its founding in 2015, GOAT has grown into the world’s leading and most trusted sneaker market, and has grown to offer clothing and accessories from some emerging, contemporary and iconic brands. Thanks to its unique positioning between primary and resale markets, the company offers styles at different times on its digital platforms and in its outlets, while delivering products to more than 30 million members in 170 countries.

About Park West Asset Management
Park West Asset Management is an investment management company based in Larkspur, California. Founded in 2002, it invests in public and private companies, mainly in the technology, consumer and healthcare sectors.

SOURCE GOAT Group

Related links

https://www.goat.com