After expanding to China last summer, retail and consignment sneaker shop Stadium Goods has announced its next power move — raising $4.6 million in new equity funding that will fuel new growth in the footwear market.
According to a press release, the financing round was led by Forerunner Ventures, which has Warby Parker, Dollar Shave Club and Jet.com in its portfolio. Mark Cuban, Dallas Mavericks owner, is also a partner and advisor.
“Stadium Goods has transcended a seemingly niche market, proving that they can be a critical player in the larger global athletic footwear retail market. There hasn’t been a company of its kind offering this level of aesthetic, product mix or services to date so we’re very excited to partner with them.” said Kirsten Green, Founder at Forerunner Ventures.
Stadium Goods has had a successful run in China partnering with Tmall Global, providing a platform for overseas merchants to enter the country's growing retail market.
“In just over a year in business, we’ve experienced tremendous growth and, more importantly, helped to legitimize the resale model by making it more relevant and accessible to all types of consumers,” said Jed Stiller, Co-Founder and Managing Partner of Stadium Goods. “We’re thrilled to have found the perfect partners in Forerunner Ventures and The Chernin Group, among others, to build on our successes to date as we look to innovate and scale rapidly."