Goat Group reached an agreement last week to acquire Grailed, a marketplace for men’s luxury, streetwear and vintage fashion, in a cash and stock deal.
Details of the transaction between Goat in Leimert Park and Grailed in New York were not disclosed.
The deal is expected to close within approximately 45 days and, until that time, the two companies will continue to operate independently, according to a release from Goat.
Goat is an online platform offering sneakers, luxury apparel and accessories through primary and resale markets.
Grailed offers men and women’s clothing items and accessories for sale through its platform and features products from exclusive streetwear, designer, and contemporary brands including Gucci, Saint Laurent, Prada and more.
The acquisition follows Goat’s investment in Grailed in September of last year when the company led the series B funding round of $60 million. The deal brings together a combined global community of more than 50 million members in 170 countries, according to the release.
Eddy Lu, co-founder and chief executive of Goat, called Grailed 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,” Lu said in a statement. “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.”
Arun Gupta, co-founder and chief executive of Grailed, said that Goat is the perfect complement to his company’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,” Gupta said in a statement.
In a posting on the Grailed website, Gupta wrote that this deal means that Grailed has even more resources behind it to take the experience of the platform to the next level.
“It means that we are now part of a larger, global community of more than 50 million members,” Gupta wrote. “And it means that you will have even more opportunities to access the fashion and styles you are looking for.”
Even after the transaction closes, Grailed will remain the same company its members have always known, Gupta added.
“No name change. No brand change,” Gupta said. “No change to what makes our marketplace the best in all of fashion.”
