Luxury fashion brand Farfetch has acquired New York-based Stadium Goods, opting to pay $250 million for the trainer start-up in a combination of cash and stock in Farfetch. Based in London, Farfetch went public on the New York Stock Exchange in September, pricing its shares at £16 apiece and raising £699 million in the process.
Together, Farfetch and Stadium Goods will focus on international growth. Stadium Goods already had a significant international base of customers, but a partnership with Farfetch gives them the tools to go places they’ve never been. The global athletic footwear industry is expected to be worth $95 billion by 2025.