Carlyle sells the Golden Goose
Control of Italian footwear-fashion brand Golden Goose is about to pass to a new private equity owner.
The Carlyle Group has sold its majority stake in the fast-growing business to a company backed by Permira funds.
Golden Goose was founded 20 years ago in Venice and has since grown into a luxury brand, known best for its sneakers. It now has 100 directly owned stores across Europe, Asia and the US and also sells online.
Carlyle, whose portfolio includes another luxury brand Moncler, bought Golden Goose in March 2017 through its European and Asian funds. Since then, revenues have grown from €100 million (US$108 million) into more than €260 million last year.
At Permira, Golden Goose will join s stable which includes Dr Martens, Hugo Boss, Valentino and digital-first brand Reformation.
“Since the foundation of Golden Goose in 2000, we have strived to create innovative products for our customers, combining craftsmanship and a refined and modern style,” said Silvio Campara, CEO at Golden Goose.
“We thank Carlyle for their support and partnership in leading the company through a phenomenal period of growth. Today marks an important milestone for the brand, as we partner with Permira. Their experience and excellent track record in the consumer sector will be invaluable to us as we continue to grow and deliver our products to an increasingly global audience.”
Permira partner Francesco Pascalizi described Golden Goose as “a next-gen luxury brand” and the creator of the high-end sneakers category.
“Over recent years the company has experienced outstanding growth, driven by its excellent management team. We look forward to leveraging our experience to support Golden Goose through the next phase of development.”
Subject to customary conditions, the sale is expected to be closed during the next few months.