Golden Goose Sells Majority Stake to HSG in €2.5B Deal

The Italian luxury sneaker label brings in HSG, Temasek and True Light Capital as it doubles down on next-generation luxury growth.

Overview

• Golden Goose, the Italian luxury sneaker label famous for its distressed, “perfectly imperfect” aesthetic, is entering a new chapter as Chinese private equity firm HSG agrees to acquire a majority stake, with Singapore’s Temasek and its True Light Capital arm stepping in as minority investors.
• The deal quietly sidelines the brand’s long-mooted IPO and instead locks in a private valuation hovering around €2.5 billion, almost doubling Golden Goose’s price tag since Permira bought in 2020, according to market sources.
• Permira and other existing shareholders, including Carlyle, are not exiting entirely. They roll into the new structure with minority positions, signalling continued conviction in Golden Goose’s long-term upside.
• Golden Goose keeps its core leadership intact. Chief executive Silvio Campara stays in the driver’s seat, while ex-Gucci boss Marco Bizzarri shifts from board member to non-executive chairman to sharpen the global luxury play.
• The brand has the numbers to match the hype. Revenues have jumped from roughly €266 million in 2020 to about €655 million in 2024, fuelled by a heavy pivot into direct-to-consumer, an expanded retail footprint and its cult sneaker ecosystem.
• Golden Goose says the partnership with HSG and Temasek will boost international expansion while doubling down on its Italian artisanal roots and “next-generation luxury” positioning (Golden Goose Group – we.goldengoose.com).
• For fashion and sneaker culture, this is a power play that underlines how much heat still sits at the intersection of luxury, lifestyle and sportswear – and how valuable a global community of dreamers can be when the right capital steps in.