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Photograph of a drop off area at sneaker store Flight Club.
Fashion

GOAT leads $60 million investment in Grailed, heating up streetwear resale war

By Danny Parisi
Sep 16, 2021

Two of the biggest names in streetwear resale are coming together, as resale marketplace Grailed announced a partnership with resale platform GOAT on Thursday morning.

The partnership sees GOAT Group leading a $60 million Series B investment in Grailed. Grailed, while smaller than GOAT and its main competitor, StockX, had significantly grown in the last three years, doubling its customer base and bringing in 7 million users who buy and sell via 3 million listings on the site every year.

“In GOAT Group, we saw an incredibly like-minded partner who is just as passionate and forward-thinking about the global fashion community as we are,” Gupta said in a press statement. “With GOAT’s investment, we are excited to deliver powerful new features across the platform and to double-down on our bold innovations in authentication at an even faster pace.”   

For GOAT, which sells both new and pre-owned products, the investment allows the company to expand its market share in the lucrative resale world, which could be valued at $30 billion by 2030, according to Cowen Insights. This would help GOAT compete with its main rival for dominance in the streetwear resale marketplace, StockX.

GOAT and StockX are neck-and-neck in valuation. GOAT, which is not publicly traded, is valued at $3.7 billion after a nearly $200 million funding round in June, while StockX has a stock valuation of $3.8 billion. While StockX has seen success branching into categories like electronics and trading cards, GOAT has also been bolstered by categories other than sneakers, seeing 500% more apparel sales in 2020, compared to 2019. Both have also been competing to target more women and pay sellers faster.

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