Golden goose, an Italian company from luxury, which last year cancelled its expected listing on Piazza Affari, has announced the strategic investment by Blue Pool Capital, investment company based in Hong Kong supported by the co-founder of Alibaba, Joe Tsaie, who bought the 12% minority stake in the Group.
This is stated in a note from the Italian luxury sneaker company, explaining that instead the Permira Private Equity will retain a majority stake in Golden Goose. Oliver Weisberg, CEO of Blue Pool Capital, will join the company's board of directors. The transaction, the note explains, "was negotiated and agreed shortly after the group's decision to postpone the IPO scheduled for June 2024 and was completed today.”
In 2020, the funds of Permira had acquired a majority stake in the company for 1,3 billion euros and since then sneakers over 500 euros have taken off, more than doubling revenues since then. Despite the difficulties of the luxury sector, in the nine months ended in September 2024 the group recorded a 12% year-on-year revenue growth and an 11% adjusted EBITDA growth, mainly driven by the performance of the “direct to consumer” channel, which grew by 18% year-on-year. Golden Goose is present in the Americas, Europe, the Middle East and APAC, with over 200 stores and a solid online and wholesale distribution network.
The new capital commitment from Blue Pool is “a significant milestone for Golden Goose and is a testament to the Group’s financial performance and potential as a global luxury brand,” it is noted. Blue Pool’s deep experience in the sports, entertainment and consumer sectors, combined with its deep understanding of the APAC market, will help the Group further expand its reach. Oliver Weisberg, CEO of Blue Pool Capital, will join the Board of Directors of Golden Goose.
“With Blue Pool’s experience, deep connections in the US and APAC, and impressive portfolio of sports investments, we will push the boundaries of our dream even further,” he said. Silvio Campara, CEO of Golden Goose. “It will be a strategic partner in our journey to redefine luxury.” Financial details of the deal were not disclosed.
