Farfetch to acquire Stadium Goods for $250mn
Farfetch, operator of the world’s leading technology platform for luxury fashion, announced today the completion of an agreement to acquire Stadium Goods, a leading digital sneaker and footwear marketplace. The deal will see Farfetch pay a total of US$250mn in cash and Farfetch shares.
Headquartered in London, Farfetch raised $885mn in September when the company exited the startup phase, pricing its shares at $20 each. Stadium Goods is a New York-based streetwear brick-and-mortar and e-commerce outlet, specializing in vintage and collectible streetwear. The company specializes in brands like Nike, Adidas, Yeezy and Converse. Shoes available on the company site range from $45 for a pair of Asics Gel Lite 5’s, to $25,000 for the Fila T-1 Mid.
The collectible and premium sportswear market was estimated to be worth $70bn in 2017, and is expected to grow consistently over the coming fiscal year.
Stadium Goods is the third e-commerce venture backed by venture capitalist Kirsten Green to exit the startup phase, according to TechCrunch. Green also supported the exits of the Dollar Shave Club, which received an offering of $1bn, and Bonobos, which received £310mn.
"The Stadium Goods team has built an incredible company, with a host of talented people, dedicated and loyal customers and remarkable brand equity”, said Jose Neves, CEO of Farfetch. “It is clear that there is a great opportunity for our two companies to leverage each other's strengths to go after a larger share of an exciting and fast-growing segment of luxury fashion.”
Stadium Goods co-founder and co-CEO, John McPheters, said “our entire team couldn't be more excited to join the Farfetch family as we enter the next stage in our evolution as a global brand and product offering. By leveraging Farfetch's best-in-class cross-border logistics and technology, as well as their luxury prowess, scale and customer base, we will be in a prime position to capitalize on the massive international demand for sneakers and streetwear.”
The acquisition is scheduled for completion in Q1 2019.
How AWS helps NASCAR delight its fans
AWS needs no introduction to readers of Technology Magazine but we rarely get an opportunity to look closely at how it serves the sports sector. All major sports draw in a huge supporter base that they want to nurture and support. Technology is the key to every major sports organization and enabling this is the driving force for AWS, says Matt Hurst, Head of Global Sports Marketing and Communications for AWS. “In sports, as in every industry, machine learning and artificial intelligence and high performance computing are helping to usher in the next wave of technical sports innovation.”
AWS approaches sports in three principal areas. “The first is unlocking data’s potential: leagues and teams hold vast amounts of data and AWS is enabling them to analyze that data at scale and make better, more informed decisions. The second is engaging and delighting fans: with AWS fans are getting deeper insights through visually compelling on-screen graphics and interactive Second Screen experiences. And the third is rapidly improving sports performance: leagues and teams are using AWS to innovate like never before.”
Among the many global brands that partner with AWS are Germany's Bundesliga, the NFL, F1, the NHL, the PGA Tour and of course NASCAR. NASCAR has worked with AWS on its digital transformation (migrating it's 18 petabyte video archive containing 70 years of historical footage to AWS), to optimize its cloud data center operations and to enable its global brand expansion. AWS Media Services powers the NASCAR Drive mobile app, delivering broadcast-quality content for more than 80 million fans worldwide. The platform, including AWS Elemental MediaLive and AWS Elemental MediaStore, helps NASCAR provide fans instant access to the driver’s view of the race track during races, augmented by audio and a continually updated leaderboard. “And NASCAR will use our flagship machine learning service Amazon SageMaker to train deep learning models to enhance metadata and video analytics.”
Using AWS artificial intelligence and machine learning, NASCAR aims to deliver even more fan experiences that they'd never have anticipated. “Just imagine a race between Dale Earnhardt Sr and Dale Jr at Talladega! There's a bright future, and we're looking forward to working with NASCAR, helping them tap into AWS technology to continue to digitally transform, innovate and create even more fan experiences.”
Just as AWS is helping NASCAR bridge that historical gap between the legacy architecture and new technology, more customers are using AWS for machine learning than any other provider. As an example, who would have thought five years ago that NFL would be using ML to predict and prevent injury to its players? Since 2017, the league has utilized AWS as its official cloud and ML provider for the NFL Next Gen Stats (NGS) platform, which provides real-time location data, speed, and acceleration for every player during every play on every inch of the field. “One of the most potentially revolutionary components of the NFL-AWS partnership,” says Matt Hurst, “is the development of the 'Digital Athlete,' a computer simulation model that can be used to replicate infinite scenarios within the game environment—including variations by position and environmental factors, emphasizing the league's commitment to player safety.”