In accordance with a Bloomberg report, the fashion platform GOAT’s proprietor, GOAT Group, intends to procure streetwear reseller Grailed. Though GOAT and Grailed offer similar products, Grailed only operates as a peer-to-peer platform and does not handle transactions, unlike GOAT. The prospective acquisition would not converge the Grailed platform with GOAT’s app. However, the payment and shipping infrastructure may combine. The customer base reacted positively to the deal, whereas a few exhibited a negative response.
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.