Chief Executive and Co-Founder, 1661 Inc.
THE LATEST: In February, Lu’s shoe retailing startup 1661 Inc., know as GOAT, landed a $100 million investment from athletic shoe retailer Foot Locker Inc. Last year, GOAT acquired sneaker consignment retailer Fight Club and announced a $60 million funding round led by Index Ventures, along with Accel, Matrix Partners, Upfront Ventures and Webb Investment Network.
BACKGROUND: Lu co-founded GOAT in 2015 as an online marketplace for buying and selling authentic sneakers. It has since grown to more than 12 million users and 600 employees, and has raised $200 million in venture capital. GOAT sells high-end and limited-edition sneakers through its own retail stores, ecommerce sites and mobile apps.
WORTH NOTING: The company signed its first NBA brand ambassador, Los Angeles Laker Kyle Kuzma, in 2018. The sneaker marketplace also inked a deal with Versace to sell the Italian luxury brand’s Chain Reaction sneakers last year.
YEARS ON THE LA500: 1
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