In December 2018, luxury e-commerce platform Farfetch acquired sneaker and streetwear marketplace Stadium Goods for $250 million, a key player in the new wave of peer-to-peer streetwear sellers alongside StockX, GOAT and Grailed, Stadium Goods holds the key to a somewhat elusive but lucrative demographic in luxury: young male consumers.
But the story behind its success starts with co-founder John McPheter’s non-fashion background as he dabbled in New York’s “multiple hustle” business culture. Even after working at Flight Club, his plans to go into business with co-founder Jed Stiller were more specific to an e-commerce model than streetwear — at one time they even considered launching a diamond marketplace.
After several years of doubling down on key partnerships and honing the brand’s “premium aesthetics,” the decision to sell the business made sense. “Now what excites us is taking it to the next level in terms of scale and tapping into a larger ecosystem,” says McPheters. “That, coupled with the values and people and relationships [at Farfetch] made for a perfect storm.”
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