Golden Goose Group announced that global investment firm HSG will acquire a majority stake in the Italian luxury brand operator, with Temasek and a fund managed by Temasek-owned True Light Capital joining as minority investors. Existing shareholder Permira will remain a strategic minority holder and continue its partnership with the company. The deal also includes partial liquidity for Permira-advised funds and other current shareholders, including Carlyle, while Golden Goose said the transaction’s financial terms were not disclosed and closing is expected in summer 2026, subject to customary conditions and regulatory approvals.
The company described Golden Goose as a next-generation luxury brand positioned at the intersection of luxury, lifestyle and sportswear, and said it has delivered strong, profitable growth since 2020. Golden Goose reported revenue rising from €266 million in fiscal 2020 to €655 million in fiscal 2024, alongside a push toward direct-to-consumer channels, the rollout of its Forward Store concept, broader product assortment, and increased investment in customer Co-Creation experiences.
Golden Goose said the momentum continued in 2025, reporting double-digit growth across regions in the nine months ended September 2025. Revenue increased 13% year over year, which the company attributed to 21% growth in its direct-to-consumer channel and an expanded store footprint that reached 227 directly operated stores, compared with 97 in 2019.
Under the leadership transition outlined in the announcement, CEO Silvio Campara will continue to lead the business with the existing management team. Marco Bizzarri, currently a non-executive director on the Golden Goose board, will become non-executive chairman, with the company citing his experience leading luxury groups and brands including Gucci, Bottega Veneta and Kering as it looks to accelerate international expansion while maintaining its Made in Italy heritage.
Golden Goose also said it expects its €480.0 million senior secured floating rate notes due 2031 to be redeemed in full on or around the transaction close at the applicable redemption price at that time, plus accrued and unpaid interest.
Support: J.P. Morgan served as lead financial advisor and Bank of America served as financial advisor to Permira, with Giliberti Triscornia e Associati acting as legal advisor, Maisto & Associati as tax advisors, and EY conducting Permira’s financial due diligence, according to the announcement.
KEY QUOTES:
“We are delighted to welcome HSG and Temasek as strategic partners to Golden Goose as we step up our global ambitions as a leading international luxury brand. Their investment is yet another vote of confidence in the success of our model at the intersection of luxury, lifestyle, and sportswear, beloved by a growing, global community of Dreamers. With their experience of scaling international leaders across luxury and the broader business spectrum, HSG and Temasek will help us unlock the vast opportunity ahead for Golden Goose. We are grateful to Permira for being integral partners to our successful journey so far and are delighted they will remain valued partners alongside HSG and Temasek.”
Silvio Campara, Chief Executive Officer of Golden Goose
“Golden Goose stands for love, empathy, authenticity and a powerful sense of community in today’s luxury landscape. We feel deeply privileged to partner with Temasek and Permira, together with Silvio and his talented team to support the brand as it enters its next exciting chapter of growth – especially internationally – while preserving and celebrating what makes Golden Goose so uniquely Italian. We look forward to contributing our global experience, resources, and deep respect for the brand’s heritage, with the shared ambition of bringing the unique joy and spirit of Golden Goose to consumers around the world, for generations to come.”
Jiajia Zou, Partner at HSG
“Golden Goose has led the way in defining what it is to be a next-gen luxury brand for two decades now. They have built a unique community of GG-lovers around the world whilst also building a robust and high performing business. Against a challenging backdrop for the luxury industry in 2024 and 2025, Silvio and his talented team have continued to deliver strong performance and healthy growth, proving that Golden Goose is a brand that can stand the test of time. This transaction with HSG and Temasek is testament to both Golden Goose’s success and also its future ambition – continued global growth and innovation. We are thrilled to continue supporting Silvio and the team, and to welcome HSG and Temasek in this next exciting chapter.”
Francesco Pascalizi and Tara Alhadeff, Partners at Permira
