SNEAKER MARKETPLACE GOAT EXPANDS INTO CHINA

Sneaker marketplace GOAT is expanding into China. With over 400 million Millennials in the country, China presents a massive opportunity for GOAT. The market is the second largest for sneakers and is already GOAT’s number one internationally.

To kick-start the launch, GOAT will be hosting a three-day event in China, showcasing the rarest and most exclusive sneakers. A localized GOAT app is available to users, along with a WeChat Mini Program in order to tailor to the China consumer ecosystem. The localized native app and WeChat Mini Program provide a seamless user interface with hi-resolution photos, offering a transparent shopping experience, similar to the platform used in the United States.

GOAT has also opened a new facility in Hong Kong to better serve its marketplace in China as well as the Greater Asia Pacific region.

“The sneaker community has grown tremendously in China, especially with the rise of basketball and hip-hop culture. So, it’s no surprise the demand for sneakers has grown as well,” said Eddy Lu, co-founder and CEO of GOAT Group. “We know that there is a huge need to ensure authentic sneakers in the global sneaker industry, and we believe China is the perfect market to begin our global expansion.”

Operations for the expansion in China and the greater Asia Pacific region are being led by the GOAT team based in Shanghai. Consumer needs and behavior varies globally and GOAT aims to give Chinese users an authentic experience tailored to their market.

“We know China is a unique market and if we use the same strategy as the U.S., we’ll likely fail,” added Lu. “We are building this product with a local team in order to provide the Chinese consumer with a better, more personalized experience.”