Specialty athletic retailer Foot Locker is making a US$100 million strategic minority investment in Goat Group, a managed marketplace for authentic sneakers operating the Goat and Flight Club brands.
The partners expect to make joint efforts across digital and physical retail platforms to create exclusive experiences for their customers in an attempt to elevate customer engagement. The investment is also expected to help accelerate Goat Group’s global operations, expanding its omnichannel experience and innovative technologies.
“At Foot Locker we are constantly looking at new ways to elevate our customer experience and bring sneaker and youth culture to people around the world”, said Foot Locker’s chairman and CEO Richard Johnson. “We are excited to leverage Goat Group’s technology to further innovate the sneaker buying experience and utilise their best-in-class online marketplace to help meet the ever-growing global demand for the latest product.
“Together, Foot Locker and Goat Group’s shared commitment to trust and authenticity in the sneaker industry will provide consumers with unparalleled experiences and diversified offerings,” said Johnson.