François-Henri Pinault's Groupe Artemis makes strategic investment in Goat Group
Founded in 2015, Goat was valued at $1.75 billion as of December, 2020, following the announcement of the company's Series E funding round of $100 million.
In a press release, Goat said it will use this strategic investment from Groupe Artemis to support its continued expansion in fashion apparel and new categories.
"Groupe Artemis is one of the most influential and prestigious investors in luxury fashion, and their investment is another important step as we double-down on our expansion in apparel and new categories," said Eddy Lu, co-founder and chief executive officer of Goat Group.
"As a strategic investor in Goat, Groupe Artemis will help us further accelerate our growth, particularly in fashion apparel, as we continue to drive forward with our mission to bring the greatest products together from the past, present and future."
Pinault, who serves as president of Groupe Artemis, added: "Goat has established a rapidly growing, distinctive brand with tens of millions of younger luxury consumers, and our investment reflects our belief in their business model and the power of their technology and platform to tell the story of our brands. We see significant opportunities for expanded partnerships and many synergies between Goat and our portfolio of brands."
The investment from Groupe Artemis brings Kering into an even closer relationship with Goat, which already has direct partnerships with Kering brands such as Balenciaga, Alexander McQueen and MCQ.
Copyright © 2022 FashionNetwork.com All rights reserved.