Stadium Goods to Be Acquired by Farfetch Limited
Farfetch Limited, a global technology platform for the luxury fashion industry, has agreed to acquire firm client Stadium Goods, one of the world's premier sneaker and streetwear marketplaces, for an enterprise value of $250 million. The deal, expected to be completed in the first quarter of 2019, will allow Stadium Goods to leverage Farfetch's platform and expertise in technology, logistics, data and geographic reach. Farfetch, in return, will benefit from Stadium Goods' significant brand authority and social media following.
Founded in 2015, Stadium Goods is a premium sneaker and streetwear marketplace specializing in new and deadstock (brand new, never been worn before, second-hand) products. Stadium Goods will continue to operate as a standalone brand on the Farfetch platform and will be led by its existing management team.
The transaction was facilitated by an interdisciplinary team of White and Williams lawyers. Josh Galante and Lori Smith led the transaction team comprised of Randy Friedberg (intellectual property), John Eagan (tax) and George Morrison (employment), as well as Corporate associates Gwenn Barney, Patrick Devine and Jeremy Miller. Intellectual Property partner Randy Friedberg has acted as outside general counsel to Stadium Goods since its inception.