Farfetch's purchase of Stadium Goods seen as strategic

The Business of Fashion weighs in on Farfetch's (FTCH +0.8%) acquisition of Stadium Goods.

"The London-based fashion e-commerce platform is aiming to extend its reach in the growing luxury sneakers and streetwear market, as millennials account for a growing percentage of luxury sales and competitors are engaged in a digital land grab," writes Chantal Fernandez.

Farfetch is locked in a race against MatchesFashion and Richemont’s Yoox Net-a-Porter to add new services and technologies through investments, acquisitions and internal R&D, notes Fernandez.

Shares of Farfetch are up over 6% since the deal was announced.

Previously: Farfetch adds sneaker marketplace to the mix (Dec. 12)