After nearly ten years, it’s been announced that Stadium Goods will shut down their New York City brick-and-mortar store. This location, situated on 47 Howard Street in the center of SoHo, has long been a go-to spot for rare and sought-after sneakers across the industry.
The high-ranking executive of the sneaker consignment firm, holding the titles of Senior Vice President and General Manager, communicated with Footwear News, revealing, “Our lease was about to expire, and we chose not to renew it. Our main revenue source is through digital platforms, so Stadium Goods is channeling investments into these areas for growth. In the interim, we’re planning to revamp our market center at 412 Broadway, enabling us to accept new products from sellers and provide a premium retail experience within the same location.
Established on October 16, 2015, John McPheters and Jed Stiller’s Lower Manhattan store underwent a renovation in February 2022, which included a new entrance at 305 Canal St. and an increase in size to approximately 2,860 square feet. This expansion provides more shopping space for customers. In 2018, Stadium Goods was bought by Farfetch Limited for $250 million USD, and last year it was purchased by South Korean company Coupang for $500 million USD. As Stadium Goods primarily operates online, its future growth remains to be seen; however, the closure of their SoHo store marks the end of an era.
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2025-01-10 11:26