The Italian luxury sneaker brand Golden Goose, which was found back in 2000, has been sold to Permira for €1.3 billion.
Permira has bought it from the US-based Carlyle Group, which itself had acquired the brand 3 years back for €400 million.
The deal between both the parties is expected to end in coming months.
Talking to the media on the deal, Tara Alhadeff, a principal at Permira, averred “This is really about backing the sneaker trend, the casualisation of everybody’s wardrobes.”
Under Carlyle, Golden Goose expanded into apparels and accessories as well, though trainers make up around 80 per cent of its revenues.
Here it is important to note that revenues at Golden Goose surged from €140 million in 2017 (when Carlyle had acquired it) to over €260 million in 2019.
The huge amount at which Golden Goose was sold is indicative of the tough competition among private equity firms. Reportedly, a rival buyout firm Advent too had made an offer to buy the brand; however, Advent refused to comment.