Stadium Goods is aligning with another big entity.
LVMH Luxury Ventures recently backed the streetwear and sneaker retailer, which is now partnering with Nordstrom to operate a concept space within its new men’s store, which is slated to open on April 12 at 235 West 57th Street.
“Sneakers are the fastest growing category in men’s footwear and partnering with Stadium Goods punctuates our commitment to showcasing the best and most rare sneakers from the hottest brands that have long sold out elsewhere,” said Kristin Frossmo, executive vice president and general merchandise manager for shoes at Nordstrom. “Sneakers have disrupted fashion and are now being mixed with everyday looks — from desk to dinner. We couldn’t be more excited to be Stadium Goods first retail partner of choice.”
This innovative deal brings after-market sneakers into a retail space that sells brand new shoes. According to John McPheters, who cofounded Stadium Goods with Jed Stiller, this has been in the works for a couple of years, but it wasn’t a difficult sell.
“We’ve spent so much time trying to elevate the after-market experience,” said McPheters. “And we feel like we are getting to a great place to be able to sell our product in Nordstrom. It’s a win-win for both parties.”
The shop, which will be located in the men’s shoe department, will feature a selection of best-selling styles that will be available in multiple sizes. Customers will not be able to drop of sneakers to sell at this location. The assortment will change on a weekly basis, but Stadium Goods is ensuring that its product doesn’t compete with Nordstrom’s existing collection of sneakers. Stadium Goods will also sell a selection of sneakers on nordstrom.com.
“We aren’t selling the same product at the same time,” said McPheters. “The filter that we apply is going to make sure that we bring product that’s battle proven. You aren’t going to find something that sold out a week ago. This will be sneakers from at least a quarter back that had a huge success.”
Since its inception in 2015, Stadium Goods has pushed past the confines of its SoHo shop by investing in its e-commerce experience and working with retail partners such as eBay and Alibaba Tmall. For the past two years, Stadium Goods has participated in its annual 11.11 event, formerly called Singles’ Day, which has ended up being its biggest sales day of the year.
According to McPheters, Stadium Goods, which raised $5.6 million prior to LVMH Luxury Ventures being involved, is planning on expanding its bricks-and-mortar footprint this year and expanding into other international markets.