Financial investor takes over Italian luxury sneaker brand
The US financial investor Permira has bought the Italian shoe brand Golden Goose from the US fund Carlyle. According to media reports, the purchase price is said to be around 1,28 billion euros. With this offer, Permira outbid several other interested parties. Carlyle only took over Golden Goose in February 2017 for over 400 million euros and is making a hefty profit after just three years. Permira's portfolio also includes the British cult shoe brand Dr. Martens, for which a buyer is currently being sought.
Founded in Venice in 2000 by designers Francesca Rinaldo and Alessandro Gallo, Golden Goose is one of the fastest growing luxury fashion brands, particularly known for its sneakers. The company has 100 stores of its own and a rapidly growing online presence. Golden Goose generated sales of around 260 million euros last year. Before the takeover by Carlyle, sales were 100 million euros. Shoes make up 80 percent of sales, with clothing and accessories contributing the rest.
“Golden Goose is a next-generation luxury brand and can be considered the creator of the high-end sneaker category,” said Permira partner Francesco Pascalizi. “In recent years, the company has experienced outstanding growth thanks to its excellent management team. We look forward to using our experience to support Golden Goose in the next phase of development.”
