Stadium Goods, a global sneaker and apparel marketplace, raised more than $4.6 million in new equity funding. The financing will further fuel Stadium Goods’ expansion into the mainstream footwear market, valued at more than $80 billion annually. The financing round was led by Forerunner Ventures (Warby Parker, Dollar Shave Club, Jet.com) and also includes The Chernin Group, among others. Mark Cuban is also a partner and advisor.
Founded by John McPheters and Jed Stiller in late 2015, Stadium Goods ushered in the next generation of consumer retail with the unveiling of stadiumgoods.com and their Soho retail location in NYC, offering sneaker consumers around the world a premium, innovative and customer service-focused approach to buying and selling coveted footwear, apparel and lifestyle goods.
“Stadium Goods has transcended a seemingly niche market, proving that they can be a critical player in the larger global athletic footwear retail market. There hasn’t been a company of its kind offering this level of aesthetic, product mix or services to date so we’re very excited to partner with them,” said Kirsten Green, founder, Forerunner Ventures.
This past summer, Stadium Goods expanded into China through an exclusive partnership with Tmall Global, an extension of Alibaba Group’s B2C Tmall.com business, which enables overseas merchants to effectively enter China’s rapidly growing online retail market.
“In just over a year in business, we’ve experienced tremendous growth and, more importantly, helped to legitimize the resale model by making it more relevant and accessible to all types of consumers,” said Jed Stiller, co-founder/managing partner of Stadium Goods. “We’re thrilled to have found the perfect partners in Forerunner Ventures and The Chernin Group, among others, to build on our successes to date as we look to innovate and scale rapidly.”
Photo courtesy Stadium Goods
