For Starters with Alexa von Tobel
How to Build Trust with Consumers, with Eddy Lu of GOAT
May 22, 2019
Eddy Lu, Co-founder of GOAT, talks about how GOAT authenticates products, the online vs. retail sales dynamic, and the experience of acquiring a sneaker pioneer as a new upstart. The podcast delves into GOAT's inception, growth, strategic partnerships, dedication to authenticity, and the founder's entrepreneurial journey.
34:39
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Quick takeaways
- GOAT prioritizes trust and authenticity in the sneaker marketplace, utilizing advanced verification methods.
- The strategic partnership with Footlocker aims to enhance the sneaker buying experience by combining digital expertise with physical retail presence.
Deep dives
The Origin and Growth of GOAT Marketplace
GOAT, the world's largest marketplace for buying and selling authentic sneakers, originated from a pivot from a previous company called Grub with Us. The founders, Eddy Liu and his co-founder, transitioned to GOAT due to the market opportunity it presented. With 12 million users, three retail locations, and a $100 million investment from Footlocker, GOAT has established itself as a leader. The platform employs a managed marketplace model, ensuring product authenticity and quality control, offering buyers a retail-like experience.
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