Permira is in advanced negotiations to sell luxury sneaker brand Golden Goose to HongShan Capital Group, with an expected valuation of over €2.5 billion.

Target Company Overview

Golden Goose, an Italian luxury sneaker brand, is currently the subject of acquisition talks between Permira and HongShan Capital Group. The negotiations are ongoing, with estimates suggesting the company's valuation could exceed €2.5 billion ($3 billion). Golden Goose, renowned for its distinctive deliberately scuffed sneakers that retail for upwards of €500, reported impressive financials in 2024, achieving revenues of €655 million and an adjusted EBITDA of €227 million.

Permira acquired Golden Goose in 2020 for approximately €1.3 billion from Carlyle. Since then, the company has significantly expanded its presence in international markets, particularly in Asia and the United States. Although Golden Goose had initially planned an initial public offering (IPO) on the Milan Stock Exchange in 2024, this has been postponed due to unfavorable market conditions.

Industry Overview in Italy

The Italian luxury goods market has proven to be resilient, marked by a steady demand for high-end and premium products. As a country known for its craftsmanship and artisanal manufacturing, Italy continues to be a key player