GOAT, an online marketplace for high-value sneakers, is acquiring Flight Club, the well-known sneaker consignment shop with locations in New York and Los Angeles.
Flight Club is a cultural icon,but they were missing the tech side. We’ve grown into an established player, but we don’t have the retail yet.” – Eddy Lu, GOAT Chief Executive
According to a GOAT spokeswoman, the deal involves a mix of cash and equity, although terms have not been disclosed yet. She also said that both brands will continue to operate independently.
With the acquisition, GOAT now has its first brick-and-mortar presence, along with a loyal customer base and access to even more sellers.
The acquisition gives Flight Club access to GOAT’s e-commerce and mobile platforms. Flight Club will also retain its name and headquarters in New York.