Stadium Goods is officially closing its New York City store located at 47 Howard Street, a prominent spot in SoHo renowned for hard-to-find sneakers. The senior vice president of the company stated that they opted not to renew the lease as their focus has shifted primarily to digital sales. Despite the closure of the physical store, they plan to enhance their market center at 412 Broadway to improve their product intake and retail experience.
Having opened on October 16, 2015, Stadium Goods went through renovations in February 2022, expanding the store’s footprint significantly. The company was acquired by Farfetch Limited in 2018 for $250 million, then further purchased by Coupang for $500 million in 2022. This closing marks a significant moment in sneaker retail history, given Stadium Goods’ impact on the consignment model, emphasizing the growing trend of online shopping in the sneaker market.
