GOAT Group (owner of the fashion platform GOAT) plans to be streetwear reseller Grailed according to Bloomberg.
While both GOAT and Grailed sell many of the same products Grailed is strictly a peer-to-peer platform and does not get involved in the transaction process where as GOAT does. The new acquisition would not combine the GOAT app with Grailed, but would potentially merge payment systems and shipping infrastructure.
Some customers were happy about the deal while others not so much.
The acquisition amount has not been disclosed, but you can expect this deal to be in the hundreds of millions of dollars range as the business of fashion continues to grow.
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