IPO shelved as investors double down on long-term growth
Golden Goose, the Italian luxury sneaker brand known for its “perfectly imperfect” aesthetic, is entering a new chapter as Chinese private equity firm HSG agrees to acquire a majority stake. Singapore’s Temasek and its arm True Light Capital join the deal as minority investors.
The agreement effectively sidelines the long-anticipated IPO and sets a private valuation of roughly €2.5 billion — nearly twice Golden Goose’s worth when Permira first invested in 2020, according to Financial Times.
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Permira and other existing shareholders, including Carlyle, retain minority positions, signaling continued confidence in the label’s trajectory.
Leadership continuity remains central: Silvio Campara stays on as CEO, while former Gucci CEO Marco Bizzarri transitions from a board role to non-executive chairman, helping refine the brand’s global luxury strategy.
Golden Goose’s financial performance backs up the valuation: revenues climbed from around €266 million in 2020 to roughly €655 million in 2024, driven by its strong direct-to-consumer focus, retail expansion and the cult status of its sneakers.
The transaction underscores how powerful the intersection of luxury, lifestyle and sportswear has become — and how global brand communities translate into value when aligned with strategic capital, as highlighted by Business of Fashion.
Photo: dreamstime.com
