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Groupe Artemis makes strategic investment in Goat Group

22
Jan '21

Pic: PRNewsfoto/Goat Group

Goat Group, 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. Goat will utilise the strategic investment to support its continued expansion in fashion apparel and new categories.

Groupe Artemis' 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.

"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 Pinault.

The investment follows established direct partnerships between Goat and Kering Group's brands, such as Balenciaga, Alexander McQueen and its newest label MCQ.

Fibre2Fashion News Desk (RKS)

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