Golden Goose Valued Over $3 Billion In Potential Sale To HongShan Capital

Private equity firm Permira is reportedly in advanced discussions with China's HongShan Capital Group (HSG) regarding the sale of Italian luxury sneaker maker Golden Goose. Sources close to the matter have confirmed Italian newspaper reports, indicating a potential transaction valuing Golden Goose at over 2.5 billion euros ($3 billion). Both HSG and Permira have declined to comment on the ongoing talks.

HongShan Capital Group, formerly known as Sequoia Capital China, is a prominent private equity firm with a global investment focus spanning technology, healthcare, and consumer sectors. The firm established a London office last year, strategically positioning itself to capitalize on late-stage and buyout deal opportunities across Europe. Permira, the current owner, acquired Golden Goose in 2020 at a valuation of 1.3 billion euros, highlighting a significant increase in the company's perceived value under its ownership.

Golden Goose, known for its luxury sneakers that retail for more than 500 euros a pair, has been a highly attractive asset for private equity investors due to its rapid growth. The Venice-based company has undergone multiple leveraged buyouts over the past decade, a testament to its strong market performance and investor appeal. The potential sale to HSG marks another significant chapter in its private equity journey.

Financially, Golden Goose reported robust performance, with revenues totaling 655 million euros in 2024 and an adjusted core profit (EBITDA) of 227 million euros. Despite its strong fundamentals, the company had to shelve plans for an initial public offering on the Milan Bourse last year, citing market volatility exacerbated by political uncertainty in Europe. More recently, earlier this year, Blue Pool, a Hong Kong-based investment firm backed by Alibaba co-founder Joe Tsai, acquired a 12% stake in the luxury sneaker brand.