GOAT Makes Bergdorf Goodman Partnership
The high-end Los Angeles-headquartered sneaker-resale market GOAT announced Aug. 21 a partnership with one of New York’s most luxe department stores—Bergdorf Goodman.
As part of the partnership, GOAT developed a section at Bergdorf Goodman’s Men’s store on Manhattan’s Fifth Avenue, said Bruce Pask, men’s fashion director at the department store. The section was unveiled on Aug. 21.
“Sneakers and athletic-driven sportswear have been a leading component of the designer-and-luxury menswear world, and we see this influence continuing to be very important,” Pask said in a statement. “GOAT is an innovator and leader in the resale space with an elevated aesthetic, peerless expertise, and a focus on customer experience and service—aspects that we absolutely share—making this a perfectly suited partnership and an exciting new experience that our customers can only find at BG.”
The announcement is a confirmation of how big the market for footwear and high-end sneaker resale is getting, said Daishin Sugano, the GOAT Group’s co-founder and chief procurement officer.
“Retail and resale are just at the beginning of their convergence, and, as the global demand for streetwear increases, we will continue to see its influence in the luxury market,” Sugano said in a statement. “Collaborating with Bergdorf Goodman, the iconic luxury retailer, exemplifies the endless possibilities in the industry.”
The global athletic-footwear market is forecast to reach $95.14 billion by 2025, according to the San Francisco–headquartered Grand View Research, Inc.. The value and the possibilities for the resale market for high-end sneakers seems to be skyrocketing. Earlier this year, Foot Locker invested $100 million in GOAT. StockX, another high-end-sneaker reseller closed a $110 million Series X funding round on June 26. The Detroit-based StockX then hired former eBay executive Scott Cutler as its new chief executive officer.