Global fashion technology platform Farfetch has signed a definitive agreement to purchase sneaker and streetwear marketplace Stadium Goods for a total consideration of $250m.
The total consideration of the deal will be paid in cash and Farfetch shares.
Established in 2015, Stadium Goods offers new and deadstock products to customers through its online market place. It has participated in the Farfetch marketplace from April 2018.
Led by its existing management team, Farfetch will operate Stadium Goods as a standalone brand on its platform after the completion of the transaction.
The company will also integrate the inventory of the sneaker brand into its marketplace and will offer it across all geographies including the US.
Farfetch founder, CEO and co-chairman José Neves said: “Having already collaborated with its exceptional team via the Farfetch marketplace, it is clear that there is a great opportunity for our two companies to leverage each other’s strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion.
“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. We can’t wait to get started with John, Jed and the rest of the Stadium Goods team.”
Additionally, Farfetch will benefit from Stadium Goods’ brand authority as well as its expertise in technology, logistics, data and geographic reach.
The transaction, which is currently subject to customary closing conditions, will close in the first quarter of 2019.