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Tag: Golden Goose

  • Golden Goose Leaps Forward: Chinese and Singaporean Investments Fuel Luxury Brands Global Expansion

    Golden Goose Leaps Forward: Chinese and Singaporean Investments Fuel Luxury Brands Global Expansion

    Italian luxury brand, Golden Goose, has recently gone through a significant change in ownership. A majority stake in the company is now held by Chinese private equity firm HSG, while Singapore’s investment firm, Temasek, has also joined as a minority shareholder. This move followed the necessary regulatory approvals, and while the financial specifics remain undisclosed, existing investor Permira has retained a minority stake.

    A New Chapter for Golden Goose

    The revamped ownership structure is poised to support the next phase of Golden Goose’s worldwide expansion, faithfully retaining the company’s focus on Italian craftsmanship and its direct-to-consumer retail model. Silvio Campara will maintain his position as CEO, managing the company in association with the existing management team. Effective immediately, former Gucci CEO, Marco Bizzarri has been appointed as the non-executive chairman of the company.

    Campara expressed his confidence in the new investors, stating that their vast experience in scaling international luxury brands and driving innovation will propel Golden Goose in achieving its global aspirations. He is anticipating benefiting from their expertise as they advance towards realizing their international ambitions and introducing Golden Goose to more “Dreamers” around the world.

    Campara added, “This investment is a testament to our unique model and the global appeal of our brand. It will aid us in unlocking Golden Goose’s full potential, establishing it as a leading Next Gen luxury brand.”

    Golden Goose’s Expansion over the Years

    Golden Goose has witnessed remarkable growth under the ownership of Permira, with its global retail presence now spanning 232 stores across Asia-Pacific, Europe, and the Americas. The brand has also boosted its direct-to-consumer business and invested in experiential retail concepts, including its signature in-store co-creation services, as it continues to expand its international presence.

    Questions & Answers

    What is the new ownership structure of Golden Goose?
    The luxury brand Golden Goose is now primarily owned by the Chinese private equity firm HSG, with Temasek, a Singaporean investment firm, and Permira as minority shareholders.

    Who will lead Golden Goose under the new ownership?
    Silvio Campara will continue to serve as CEO of Golden Goose, working alongside the existing management team. Marco Bizzarri, former Gucci CEO, has been appointed as the non-executive chairman.

    What are the future expansion plans of Golden Goose?
    Under the new ownership, Golden Goose plans to further expand its worldwide presence while maintaining its focus on Italian craftsmanship and its direct-to-consumer retail model. The company also plans to leverage the experience of its new investors to scale the brand and drive innovation.

  • Chinese Equity Firm HSG Acquires Majority Ownership of Luxury Sneaker Giant Golden Goose

    Chinese Equity Firm HSG Acquires Majority Ownership of Luxury Sneaker Giant Golden Goose

    Golden Goose, an Italian luxury sneaker manufacturer, announced on Friday that HSG, previously known as Sequoia Capital China, has become its main shareholder. The Chinese private equity firm acquired its stake from the current owner, Permira.

    Additional Investments

    Simultaneously, Temasek, Singapore’s investment firm, along with its subsidiary True Light, has purchased a minor stake in the Venice-based sneaker company. Golden Goose’s sneakers begin retailing at 500 euros a pair.

    This agreement values Golden Goose at approximately 2.5 billion euros (US$3 billion), including debt. The announcement did not disclose further financial specifics.

    Previous Ownership

    Permira, which bought Golden Goose in 2020 for 1.28 billion euros, will maintain a minor stake along with other existing shareholders, including Carlyle.

    Silvio Campara will remain the brand’s chief executive, while former Gucci CEO and current board member, Marco Bizzarri, will assume the role of non-executive chairman.

    Finalization of The Sale

    This sale concludes a process initiated by Permira in 2024. The British-owned private equity firm had attempted to publicly list Golden Goose on the Milan stock market but was compelled to withdraw the initial public offering due to market conditions.

    The transaction is anticipated to be finalized in the third quarter of next year. Earlier this year, HSG purchased a majority stake in the Stockholm-based audio equipment group, Marshall.

    In 2024, Golden Goose reported a revenue increase of 13% to 655 million euros, along with adjusted earnings before interest, tax, depreciation, and amortisation of 227 million euros.

    Questions & Answers

    Who is the new majority shareholder of Golden Goose?
    Chinese private equity firm HSG, formerly known as Sequoia Capital China, has become the majority shareholder of Golden Goose.

    Who are the minor stakeholders in Golden Goose?
    Permira, Carlyle, Singapore’s investment firm Temasek, and its subsidiary True Light hold minor stakes in Golden Goose.

    Who will lead Golden Goose after the change in ownership?
    Silvio Campara will continue as the brand’s chief executive, and Marco Bizzarri will become the non-executive chairman.