Reselling giants Flight Club and GOAT will be joining forces. It was also confirmed that GOAT would become the parent company of the long-standing Flight Club franchise.
Flight Club is a legendary name among sneakerheads and resellers, known for their vast collection of some of the rarest shoes on the planet. Established over a decade ago, the institution has been the go to source for anyone unable to grab their pair on release day. Two years ago, the GOAT app burst strongly onto the scene, establishing itself as a quick and easy solution for selling your kicks from the comfort of your home. Goat gained traction quickly, becoming an unparalleled source for new and used sneakers of all kinds. The app received numerous investments to aid in the massive growth they experienced, totaling in the tens of millions of dollars.
Today, after announcing a new investment of $60 million, Goat also stated that they would be merging with Flight Club in a surprising twist. They noted that the long-standing brand would become a subsidiary of the Goat parent company, remaining separate brands. The deal will allow the brands to expand their reach and scale their business to a larger customer base. Despite the burst in funding supplied by Index Ventures, Goat noted that most of the new funding would go towards buying out the Flight Club shareholders.
This new merger should not have a huge effect on the customer’s experience with either brand, in fact, it should make it a bit easier for sellers and buyers. Both brands will be able to list each other’s inventory on their site, and Goat will be able to take in shoes for consignment and host them in a retail location. It remains unseen as to what plans either brand has for the future, though the arrangement as a parent company with smaller brands is an interesting contradiction to the companies description of the details.