After nearly 10 years, Stadium Goods is closing its New York City storefront.
Michael Daniel, senior vice president and general manager of Stadium Goods, confirmed with FN that the retail location at 47 Howard St. will close this month. The final day of operation will be Jan. 19.
“The lease term was coming up and we decided not to renew,” Daniel told FN. “Our business is primarily through digital channels, so that’s where Stadium Goods is focusing investment to drive growth. But in the meantime, we’re planning to transform our market center at 412 Broadway so that we can both intake new products from sellers and offer an elevated retail experience in the same space.”
The sneaker consignment company’s Howard Street store — which quickly became a haven for coveted and hard-to-find sneakers — is positioned in the heart of NYC’s SoHo neighborhood. The store opened for business on Oct. 16., 2015, and seven years later, Stadium Goods renovated the location in February 2022. The updates included the addition of an entrance at 305 Canal St. and an expansion to 2,860 square feet of space for people to shop.
Stadium Goods was founded by John McPheters and Jed Stiller, and in December 2018, the company was acquired by Farfetch Limited for $250 million.
The fate of Farfetch and its entities, which also include New Guards Group and Violet Grey, have been in limbo following the purchase of the beleaguered online luxury fashion platform from South Korean company Coupang for $500 million last year.
“We hope in a few years we’ll be having the conversation about how Coupang turned Farfetch into a business that transformed the customer experience around luxury fashion while also providing strategic value for Coupang,” Bom Kim, founder and chief executive officer of Coupang, said in a statement in February after the acquisition closed.
Peter Verry is the Senior News and Features Editor for Athletic and Outdoor at Footwear News. He oversees coverage of the two fast-paced and ultracompetitive markets, which includes conducting in-depth interviews with industry leaders and writing stories on sneakers and outdoor shoes. He is a lifelong sneaker addict (and shares his newest purchases via @peterverry on Instagram) and spends most of his free time on a trail. He holds an M.A. in journalism from Hofstra University and can be reached at peter.verry@footwearnews.com.
