Luxury’s Involvement In Resell Could Be The Beginning Of The End

Last month, Groupe Artemis — the controlling shareholder for the Kering group — made what was described as a “strategic investment” in the online reselling platform GOAT. The size of Artemis’ newly-acquired stake in the self-described “leading and most trusted sneaker marketplace in the world” remains undisclosed, but it’s safe to assume the investment is a large one. The company was valued at $1.75 billion in September 2020 after securing a fresh round of funding, so it’s impossible to imagine the Parisian supergroup grabbed a share of the action for pocket change. This isn’t the first major fashion investment in GOAT — the company snagged $100 million from high-street sneaker giant Foot Locker back in February 2019 — but it stands out, given Artemis’ rich background in luxury goods and high fashion. Read more at Highsnobiety.