LVMH Luxury Ventures is backing Stadium Goods.
The partnership between the luxury powerhouse and Stadium Goods will help further expansion for the quickly growing sneaker and streetwear resale store and e-commerce site that has seen tremendous growth since its launch just two years ago.
Stadium Goods’ founders Jed Stiller and John McPheters founded StadiumGoods.com and opened the doors of the SoHo store in October 2015. With Stiller’s extensive experience in technology and McPheters’ work in e-Commerce, as well as social media and brand communications for clients at the marketing agency Team Epiphany, the two have proven in a short period that they are a force to be reckoned with.
In the sneaker reselling space, Stadium Goods is not alone, but have been able to differentiate their business by working with many established players in the e-commerce space including Amazon, eBay, Zalando and Alibaba to be able to sell shoes far beyond their immediate reach of StadiumGoods.com and their SoHo space.
Speaking with WWD, McPheters of Stadium Goods indicated that the company was on track to do over $100 million in gross merchandise volume in 2017. While e-commerce makes up 90 percent of sales, the store it opened in SoHo, on a block that’s become its own shopping hub — Palace opened up next door and a Rick Owens store moved down the block — has emerged as a key marketing tool. Complex tapes many of its “Sneaker Shopping” episodes out of the shop, which McPheters has called a big awareness-driver.
“A good reason for us being able to grow so consistently is the storytelling we are able to do from our location,” McPheters previously told WWD. “It helps people know who we are and who they are interacting with.”
Stadium Goods holds inventory, which is another facet that distinguishes the business from its competitors in the sneaker resale arena. Stiller said this builds trust with consumers because the product is authenticated prior to being listed or sold, and it allows them to deliver product in as little as one business day. The founders recently launched an app that will feature location services, push notifications and early access to sales.
The founders, who currently sell sneakers and apparel on the site from brands including Supreme, Palace, Adidas, and Nike, previously told WWD they considered doing something in the merch space and opening a second location, but they didn’t reveal where that would be.
LVMH Luxury Ventures launched in 2017 with the mission to acquire minority stakes in emerging brands within the luxury space.