Stadium Goods has been acquired by popular online fashion retailer Farfetch. According to PR Newswire, the New York consignment shop has been valued at $250 million. 

"We are thrilled to welcome Stadium Goods to the Farfetch family. Having already collaborated with its exceptional team via the Farfetch marketplace, it is clear that there is a great opportunity for our two companies to leverage each other's strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion," said Farfetch Founder, CEO and Co-Chairman José Neves in an official press release.

Both brands have worked with each other in the past. This past May, Stadium Goods partnered with the fashion retailer to begin selling a selection of sneakers and streetwear on the site in an effort to expand its global reach. For Farfetch, the endeavor provided them with additional footing in the ever-growing sportswear market—a market with an estimated worth of $70 billion in 2017. The new acquisition will make Stadium Goods' entire inventory available via Farfetch.

"Myself, Jed and our entire team couldn't be more excited to join the Farfetch family as we enter the next stage in our evolution as a global brand and product offering," said Stadium Goods Co-Founder and Co-CEO John McPheters. "By leveraging Farfetch's best-in-class cross-border logistics and technology, as well as their luxury prowess, scale and customer base, we will be in a prime position to capitalize on the massive international demand for sneakers and streetwear."

The deal is expected to be fully completed some time in Q1 of 2019.