Foot Locker invests 100 million US dollars in Goat Group

Business

Foot Locker invests 100 million US dollars in Goat Group

American athletic footwear and apparel retailer Foot Locker has announced a strategic minority investment in Goat Group, the company managing sneaker marketplaces Goat and Fight Club. A total of 100 million US dollars have been invested.

"With over 3,000 retail locations, Foot Locker will support our primarily digital presence with physical access points worldwide, bringing more value to our community of buyers and sellers”, said Eddy Lu, co-founder and Chief Executive Officer of GOAT Group, in a statement. Foot Locker currently operates 3,220 stores across 27 countries.

“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", added Foot Locker’s Chairman and CEO Richard Johnson.

Foot Locker's investment will bring the total raised by GOAT Group to 197.6 million US dollars since it was founded in 2015. Foot Locker’s Senior Vice President of Strategy and Store Department, Scott Martin, is also set to join Goat’s Board of Directors.

Foot Locker has also recently invested in activewear brand Carbon38 and sports kidswear label Super Heroic.