Stadium Goods raises $4.6 million on funding led by Forerunner Ventures
Stadium Goods announced on Thursday that it has raised over $4.6 million in new equity funding led by Forerunner Ventures, the firm that invested in Warby Parker, Dollar Shave Club, and Birchbox, and Chernin Group among other companies. In addition, Mark Cuban is a Partner and Advisor.
The exclusive sneaker retailer plans to put the financing towards further expanding into the $80 billion mainstream footwear market.
"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 at Forerunner Ventures.
Founded by John McPheters and Jed Stiller in late 2015, Stadium Goods offers highly coveted footwear, apparel and lifestyle goods with a customer service-focused approach. The retailer expanded its reach online through a partnership with eBay, expanded its mobile and e-commerce presence with Goat, the mobile peer-to-peer sneaker marketplace, and expanded to China in partnership with Tmall Global, an extension of Alibaba Group’s B2C Tmall.com business.
Stadium Goods operates flagship and drop off locations at 47 Howard Street and 305 Canal Street, respectively, in New York City.
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