G O A T + Flight Club Merger

[ajwings23]

I don't know how many people saw this yet, but this was exciting to see this morning. What are your thoughts on this?

I haven't posted on here in years, so here it goes.

If this doesn't go here, please feel free to move and if already posted, do your thing accordingly.

Dear Seller,
When we launched GOAT in 2015, our goal was simple: Create the world’s safest and most trusted marketplace for sneakers. Over the last three years, you've played an integral role in helping us achieve that goal. Now, with more than 6 million members and 75,000 sellers, we’ve created a marketplace and community built on trust.
Today marks a milestone for GOAT as we merge with Flight Club, an industry veteran and the most iconic brand in sneaker consignment. With this merger, we are now the world’s largest sneaker marketplace with more than 400,000 listings and two retail stores.
Together, we will leverage both brands to create synergies that deliver greater efficiency and value for all of our sellers. As part of the merger, we will continue to focus on mobile and web experiences, and utilize our best-in-class technology platform across the two brands, while Flight Club continues its focus on global retail and e-commerce consignment.
You will not see any immediate changes to the seller experience on either platform, but we will keep you posted as our plans develop.
We would like to thank you for being a loyal GOAT supporter. This is an exciting time for both GOAT and Flight Club, and we look forward to bringing our valued sellers along on our journey.
For any questions, we invite you to visit our FAQ page at goat.com/fc-merger or email us at help@goat.com.
Thank you for your continued support!
Eddy Lu
Co-Founder and CEO of GOAT
Daishin Sugano
Co-Founder and CPO of GOAT

 

[W)taps]

im expecting higher prices. . . .

 

[ajwings23]

im expecting higher prices. . . .

I think the high prices at Flight Club is mainly due to the percentage they take, 20% versus G O A T 9.5% plus $5 seller fee, I actually expect this to change to 9.5% also, it won't make sense to send my kicks to Flight Club anyways for a higher fee.

 

[lobcity]

The shoe game is lame.

 

[krazy88s]

The shoe game is lame.

The lame is shoe game.

 

[ajwings23]

The shoe game is lame.

I agree, it used to be way better a little over a decade ago.

 

[edshoecator]

This is bad for stock x. FC isn’t in the business of sitting on inventory. They sell at a higher price because they have the clientele to do so.

It only affects the buyers who are used to the cut throat reselling on stock x.

And it’s a genius time to take over too...with JB and Nike going back to limited releases the market is about to boom. Flight club goes from taking 20% to a whole 29.5% of sales.

This is going to kill a lot of B&M consignment shops too.

 

[BirdTurglar]

"Together, we will leverage both brands to create synergies that deliver greater efficiency blah blah blah" Do people on planet earth talk like this? Sounds like typical corporate mumbo jumbo. The ones that will be hurt the most are the ones that helped get them there in the first place. I'm a shoebie, I just made that up for shoe newbie so what do I know.

 

[Magic33]

This is bad for stock x. FC isn’t in the business of sitting on inventory. They sell at a higher price because they have the clientele to do so.

It only affects the buyers who are used to the cut throat reselling on stock x.

And it’s a genius time to take over too...with JB and Nike going back to limited releases the market is about to boom. Flight club goes from taking 20% to a whole 29.5% of sales.

This is going to kill a lot of B&M consignment shops too.

I think this is more about having a physical presence in selling product outside of GOAT. That doesn't really affect StockX.

The consumer determines the price online.

 

[fightontrojans5]

Flight club goes from taking 20% to a whole 29.5% of sales.

Not sure if we can say they'll get that much money out of it. In fact, I think GOAT bought Flight Club here and not the other way around.

 

[isco]

my yeezys fly on FC

 

[ajwings23]

This is bad for stock x. FC isn’t in the business of sitting on inventory. They sell at a higher price because they have the clientele to do so.

It only affects the buyers who are used to the cut throat reselling on stock x.

And it’s a genius time to take over too...with JB and Nike going back to limited releases the market is about to boom. Flight club goes from taking 20% to a whole 29.5% of sales.

This is going to kill a lot of B&M consignment shops too.

I agree with how this will hurt B&M consignment.

I sold my DMP kicks with Flight Club over a decade ago, 20% was what they too out, it was a little steep, but they sold the kicks. Fast forward to today online experience like GOAT, taking less, I wonder if they will adjust their percentage to match what they have online, it will only be smart to do so to keep the business going well IMO.
I didn't know Flight Club percentage went up the roof like that. lol

 

[hipstermike]

Man I considered applying for GOAT

Interesting move this and LVHM connecting with Stadium Goods

 

[ajwings23]

I think this is more about having a physical presence in selling product outside of GOAT. That doesn't really affect StockX.

The consumer determines the price online.

I think it will hit them, stockX is cool, but not that cool.

 

[hipstermike]

StockX prolly scrambling for a link up next

 

[beh235]

im expecting higher prices. . . .

This. FC skews the price. GOAT was a bit of a relief from that for certain shoes. No more.


I stopped messing with FC after I sold some stuff through them and I had to find out on twitter my item sold and had to hassle them for my money.

 

[gentrification]

The shoe game is lame.

 

[ajwings23]

Man I considered applying for GOAT

Interesting move this and LVHM connecting with Stadium Goods

I wonder how that is going to work with LVMH, it should be a good one.

GOAT is cool to sell on.

 

[Magic33]

Flight Club's online presence is pretty much non-existent. Flight Club is in LA and New York.

Flight Club is for convenience, celebs/athletes and for people who don't know better(tourist).

 

[ajwings23]

This. FC skews the price. GOAT was a bit of a relief from that for certain shoes. No more.


I stopped messing with FC after I sold some stuff through them and I had to find out on twitter my item sold and had to hassle them for my money.

lol, yo I did the same, I checked their site for my listed pair until it sold, and then I gave them a little bit of time for them to reach out to me, they didn't and I had to call them for my money. No twitter back then.

 

[isco]

this will not affect prices whatsoever..whenever u drop shoes off they base if off of the marketprice

regardless of the platform

 

[W)taps]

Stock X x Stadium Goods lol

 

[beh235]

lol, yo I did the same, I checked their site for my listed pair until it sold, and then I gave them a little bit of time for them to reach out to me, they didn't and I had to call them for my money. No twitter back then.

I think I did that around 09-10 or something. And when I went to the store, I went on a day that they didn't distribute checks and had to go back. They could have told me that over the phone....which they never picked up. That experience soured me on them. It happened to me twice actually. I also happened when I sold my 01 Blk/Red XI's.

 

[beh235]

this will not affect prices whatsoever..whenever u drop shoes off they base if off of the marketprice

regardless of the platform

I disagree. I always check for shoes I might be interested in buying and compare aftermarket outlets for best choice, when I check each platform for a shoe in my size when they are both available, FC tends to have the higher price compared to other sources. I don't even think about looking at FC unless it's a complete last resort, and even then I tell myself I don't want it that bad and let it go.

 

[ajwings23]

I think I did that around 09-10 or something. And when I went to the store, I went on a day that they didn't distribute checks and had to go back. They could have told me that over the phone....which they never picked up. That experience soured me on them. It happened to me twice actually. I also happened when I sold my 01 Blk/Red XI's.

oh damn, I think this merger will be good for them, at least G O A T notifies you as soon as your kicks are authenticated and they let you know right away when your funds are ready for use. I will really like to see a check/Cheque system for GOAT, cut me one when I sell and don't take out an additional 2.9% to transfer my money.