While the resale industry has seen difficulties lately, Goat Group is experiencing a rise in revenue, in part because of its recent acquisition of Grailed.
According to the company’s chief brand officer Sen Sugano, the Los Angeles-based sneaker platform has seen a year-over-year surge in its garment business of more than 100%.
Sugano also claimed that the site is experiencing a more than 200 percent rise in searches for clothes. Goat Group’s acquisition of resale marketplace Grailed, which it did in a cash and stock deal in December for an unknown sum, is responsible for this increase.
“The Grailed acquisition was really a continuation of our long-term strategy,” he explained. “Our collective mission with Grailed is to bring the greatest products together from the past, present and future, and the Grailed product catalogue, especially it being a peer-to-peer marketplace, is really a match.”
Sugano reported that Goat Group is experiencing significant interest in clothing brands including Fear of God, which is the platform’s best-selling clothing brand, Supreme, Bape, Comme des Garçons, and Marni, among others. Customers of Goat Group have also shown a keen interest in social movements including Barbiecore, Y2K, and workwear.
According to Goat Group’s 2022 sales report, vintage clothing was among the most in-demand among customers buying clothes, with varsity jacket interest increasing by 96% and vintage T-shirt interest increasing by 312% on the platform, respectively.
In addition to Goat and Grailed, the Goat Group also owns the resale app Alias and the 2018 acquisition of the department retailer Flight Club.
Sugano attributes the platform’s success in the resale market to the Goat Group community.
