Apparel and accessory retail platform Goat Group has entered an agreement to acquire online marketplace Grailed in a cash and stock deal.
Founded in 2013, Grailed is a community-driven marketplace for men’s luxury, streetwear and vintage fashion.
The platform offers products from major brands such as Supreme, Raf Simons, Gucci, Saint Laurent, Balenciaga and PRADA among others.
The deal is intended to expedite both companies’ growth in the segments that Grailed serves, expanding their product offerings and global community.
The financial details of the deal have not been disclosed.
The acquisition comes after Goat Group led a $60m Series B funding round for Grailed in September last year.
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Goat Group co-founder and CEO Eddy Lu said: “Grailed is a leader in the men’s fashion resale market with a strong community of style enthusiasts.
“We have always admired what they created for the fashion industry, and we will continue to build upon their strengths and position as a leader in the space.
“Together, we’ll advance our collective mission to bring the greatest products together from the past, present and future, while also delivering innovative and memorable experiences to our community around the world.”
The deal is is expected to close within around 45 days subject to regulatory approvals and other customary closing conditions being met.
Both companies will operate independently prior to the closure.
Grailed co-founder and CEO Arun Gupta said: “With its uncompromising brand identity, Goat Group is the perfect complement to Grailed’s cutting-edge community of fashion enthusiasts.
“Goat Group stands out in the industry as the right partner to help make fashion more accessible to the global style community.”
Launched in 2019, Goat Group operates under the Goat, Flight Club and alias brands. It has more than 40 million members across 170 countries.
The merged entity will serve more than 50 million members in 170 countries.