Groupe Artemis Makes Strategic Investment in GOAT Group
Kering's controlling shareholder invests in GOAT as the company continues its expansion in fashion apparel and new categories
LOS ANGELES, Jan. 19, 2021 /PRNewswire/ -- GOAT Group (GOAT), the global platform for the greatest products from the past, present and future, has secured a strategic investment from Groupe Artemis, the controlling shareholder of Kering, which is a world leader in luxury fashion. The investment follows GOAT's Series E funding round of $100 million announced in September 2020, which valued the company at $1.75 billion at the time. GOAT will utilize this strategic investment from Groupe Artemis to support its continued expansion in fashion apparel and new categories.
"Groupe Artemis is one of the most influential and prestigious investors in luxury fashion, and their investment is another important step as we double-down on our expansion in apparel and new categories," said Eddy Lu, Co-Founder and Chief Executive Officer of GOAT Group."As a strategic investor in GOAT, Groupe Artemis will help us further accelerate our growth, particularly in fashion apparel, as we continue to drive forward with our mission to bring the greatest products together from the past, present and future."
"GOAT has established a rapidly growing, distinctive brand with tens of millions of younger luxury consumers, and our investment reflects our belief in their business model and the power of their technology and platform to tell the story of our brands," said Francois-Henri Pinault, Founder and President of Groupe Artemis. "We see significant opportunities for expanded partnerships and many synergies between GOAT and our portfolio of brands," added Mr. Pinault.
The investment follows established direct partnerships between GOAT and Kering Group's brands, such as Balenciaga, Alexander McQueen and its newest label MCQ.
About GOAT Group:
GOAT is the global platform for the greatest products from the past, present and future. Since its founding in 2015, GOAT has become the leading and most trusted sneaker marketplace in the world, and has expanded to offer apparel and accessories from select emerging, contemporary and iconic brands. Through its unique positioning between the primary and resale markets, the company offers styles across various time periods on its digital platforms and in its retail locations, while delivering products to over 30 million members across 170 countries.
About Groupe Artemis:
Artémis was founded in 1992 by French entrepreneur François Pinault. Artémis is a holding company which manages a range of companies and holds shares in various sectors, in France and abroad. For over 20 years, Artémis has been the controlling shareholder of Kering (previously PPR), one of the world leaders in apparel and accessories in Luxury and Sport & Lifestyle. Artémis also owns Christie's, the worldwide leading auction house, and Château Latour vineyards, rated a "Premier Cru Classé" since 1855. As a professional shareholder, Artémis is focused on long-term growth and shareholder value creation, while remaining on the watch for new investment opportunities. Artémis' consolidated assets exceed 30 billion euros.
SOURCE GOAT Group
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