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Eric Peng Cheng might not be a name known to many readers, but he is far from a stranger in the industry of sneakers. As the founder and president of PickYourShoes.com, Peng has built a massive business selling sneakers online. In 2012, Peng added brick and mortar business to his portfolio with the opening of BAIT in Diamond Bar, CA and has expanded the retail operation quickly to seven retail stores across the west coast with plans to expand to 20 stores by 2018.
Just announced moments ago via a LinkedIn update, this confirmed hear-say rumors that Peng had acquired interest in the legacy streetwear and sneaker-powerhouse Undefeated.
On Peng’s LinkedIn profile, he has listed his position as Chief Operations Officer, Chief Financial Officer, and Co-Owner. He further details that his responsibility includes to expand the retail operations of Undefeated which could mean more 5-strike shops coming to a city near you.
The move could lend itself nicely as both BAIT and Undefeated have plans to expand. Side-by-side stores or shop-in-shops seem like no-brainer, low hanging fruit with Peng’s new ownership in Undefeated.
Stay tuned to Snkrs Day for more updates on this latest development.
