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Foot Locker Invests $100M in Digital Startup

Partnership with reseller Goat Group seeks to bridge primary, secondary markets



New York-based Foot Locker has invested $100 million in digital startup brand Goat Group (Culver City, Calif.), a platform that resells sneakers. Goat is the largest secondary marketplace for authentic sneakers.

Though Goat had previously been seen as a threat to traditional footwear retailers, Foot Locker said it made the investment because it realized its consumers shopped with both brands, so they are intending to “[bridge] the primary and secondary markets,” said Goat Group CEO Eddy Lu to CNBC.

Operating more than 3000 brick-and-mortar stores worldwide, Foot Locker has a market cap of $6.4 billion. The brand seeks to reach younger shoppers by expanding its technology and customer experience.



MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

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