Farfetch has struck a deal to acquire upscale sneaker and streetwear online marketplace Stadium Goods.
The deal, which gave Stadium Goods an enterprise value of $250m, will enable Farfetch to chase a bigger share of a fast-growing category.
Farfetch chief executive and founder José Neves said: “We are thrilled to welcome Stadium Goods to the Farfetch family.
“Having already collaborated with its exceptional team via the Farfetch marketplace, it is clear that there is a great opportunity for our two companies to leverage each other’s strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion.
“I am confident that we can help Stadium Goods grow its international presence for sneakerheads around the world through our expertise in technology, logistics and data.
“Farfetch will benefit from Stadium Goods’ brand, access to supply and a team with a strong passion for and knowledge of luxury streetwear.”