Goat has taken the leap into apparel.
The sneaker resale app launched this morning its new apparel and accessories offering from 50 luxury, contemporary and streetwear brands such as Gucci, Saint Laurent, Maison Margiela, Acne Studios, Off-White and Supreme among other brands, and global boutique and retail partners.
“When we first launched Goat in 2015, we focused only on sneakers to ensure the best possible experience for our customers. We felt during this time it was important to define our authentication, product catalogue and discovery mechanisms in order to onboard more products while being able to control the storytelling. We’ve since grown to over 20 million users around the globe and the demand for apparel and accessories has grown as well — from in-app engagement, responses we see through our styling content on social to even customer inbound requests,” said cofounder Daishin Sugano.
Sugano also noted sneakers and streetwear’s relationship luxury fashion. Goat partnered with Versace in 2018 to launch the luxury label’s Chain Reaction sneakers, with Chloé in 2019 for the Sonnie sneakers, and held a pop-up at Bergdorf Goodman to showcase a number of coveted sneakers, including Nike Air Yeezy sneakers and Travis Scott’s collaborations with Nike.
“This demand is not limited to our core North American market either,” continued Sugano. “With our recent expansion in China, which included a dedicated WeChat Mini Program and localized native app, we’re seeing equal demand for apparel and accessories. It makes sense — China is already the largest luxury market in the world with consumption projected to nearly double by 2025.”
One major change with the launch of apparel on the app is its shift from the resale model. While sneakers will continue to sell through resale, the apparel and accessories are sold directly from the brand and retail partners.
“Similar to our current sneaker tab, we’ll help you discover apparel and accessories through our curation of new looks, brands and editorial content,” said Sugano. “If there are multiple partners with the same product for sale, we’ll only display the lowest price available for that specific sku and size.”
He added, “Resale is in our DNA and we understand this business very well. We’re focused on growing the primary market with apparel and accessories to start, but will be supporting our resellers soon.”
According to Sugano, Goat has doubled its number of users, employees and total funding this year, and individual sellers on the app sold more than $10 million worth of sneakers in 2018 compared with $2 million in the prior year.
The expansion to apparel and accessories increases Goat’s competition beyond StockX and Stadium Goods, which both offer sneakers and streetwear, to companies like Grailed and The RealReal among others.