Issue link: https://viewer.e-digitaledition.com/i/1073733
THE FOOTWEAR EYE I n 2015, John McPheters and Jed Stiller launched their sneaker resale destination Stadium Goods. In just over three years the business is worth $250 million — that's the price that to London-based fashion e-commerce platform Farfetch paid in December to acquire the company. Stadium Goods sells new and out-of-stock sneakers (some for thousands of dollars) online and in a brick-and-mortar store in downtown Manhattan. The majority of the business is done online and a growing per- centage is done internationally, with China as a crucial and growing market. Stadium Goods will remain independent as part of the deal and its portfolio of shoes and apparel will be available on Farfetch's e-commerce site. l T he doubling of its office, design and showroom space to over 330,000 square feet is part of Skechers' commitment to both further global growth and its hometown commu- nity, according to the brand. The expansion of the Skechers HQ, slated for completion during the company's 30th anniversary year in 2022, will include an enlargement of the existing corporate office in Manhattan Beach, CA and several new buildings in the same city and adjacent Hermosa Beach. "It's been a challenge to meet the needs of our growing business with our existing space," says David Weinberg, Skechers COO. "This investment in our corporate headquarters allows us to better plan for the future and increase efficiencies. It will allow us to consolidate our teams, give us room to grow, and enhance our work, design, meeting and showroom space." The centerpiece of the expansion will be a new, more than 100,000-sq.ft. design center. All of the buildings are being devel- oped with sustainability in mind to achieve LEED Gold certification upon completion. And a component of the project will be a beautification of the South Bay corridor that had become in disrepair due to the closing of several businesses. l Checking out the shoe wall at the New York City Stadium Goods store. Stadium Goods Sells High Skechers Breaks Ground on Expanded HQ RESALE RETAIL GROWTH 20 • Footwear Insight ~ January / February 2019 footwearinsight.com To learn about our unique distribution plan, please contact info@obozfootwear.com for more information. Every pair of Oboz comes with our O FIT Insole™ to deliver exceptional support, fit and performance wherever your feet may go. Shown from left: Chief Operating Officer David Weinberg, Chief Financial Officer John Vandemore, Senior Vice President of Real Estate and Construction Peter Mow, Skechers President Michael Greenberg and Vice President of Commercial Development Tim Ball.