GOAT, one of the world’s biggest online marketplaces for sneaker and streetwear resale, has acquired Grailed, a similar marketplace that is more focused on apparel. Compared to GOAT, Grailed offers apparel resale that is geared more towards luxury fashion.
GOAT Group Inc. approached Grailed last year and participated in Grailed’s $60 Million funding round along with other investors like Groupe Artemis and Gucci CEO Marco Bizzarri. Things are different now as this full on acquisition has essentially consolidated two of the biggest fashion resale marketplaces, which makes the new GOAT x Grailed company a fearsome competitor for marketplaces like StockX and eBay.
Both GOAT and Grailed have been experiencing significant growth over the last few years, as all fashion resale across categories like sneakers and apparel continue to become more popular. While the two companies now fall under the same parent company, they will operate under two distinct brands as Grailed primarily benefits from the GOAT operational infrastructure and GOAT primarily benefits from an extension into adjacent categories.
We see more resale marketplaces for cultural assets popping up every day. In contrast, this is about a merger of two already existing marketplaces. In order to compete with the new size advantage of GOAT x Grailed, could we see more mergers and acquisitions across more marketplaces? Either way, this provides more choices for collectors and investors.