The Chinese investment company HSG has signed an agreement with the British investment company Permira to acquire the Italian sneaker manufacturer Golden Goose for 2.5 billion euros ($2.9 billion). This is reported by foreign media.
As part of the deal, Permira will retain a minority stake in Golden Goose, while Singapore-based investment company Temasek Holdings will acquire a minority stake.
The financial terms of the deal were not disclosed. In 2024, Permira suspended the planned listing of Golden Goose in Milan, doubling the company's value since the acquisition for 1.3 billion euros in 2020.
The deal was one of the most expensive acquisitions of a European luxury brand by a Chinese buyer and one of the largest deals in the industry in 2025, ahead of the acquisition of the Versace fashion house by Prada SpA for 1.25 billion euros.
The deal is in line with HSG's strategy to expand its presence in Europe and demonstrates investors' interest in European brands, despite the challenges in the premium goods market. In particular, in July Temasek doubled its stake in the Italian fashion house Ermenegildo Zegna to 10%.
Permira is a British multinational investment company in the field of private equity and credit solutions. The headquarters is located in London (England).
HSG (formerly Sequoia Capital China) is a Chinese venture capital investment company in the technology and consumer sectors, as well as in the healthcare sector. The company offers private equity and venture capital fund management services. Since its founding in 2005, the HongShan Foundation has supported more than 1.5 thousand companies, including Alibaba Group Holdings Ltd., BYD Co. and ByteDance Ltd. The company has offices in Hong Kong, Beijing, Shanghai, London, Singapore, Shenzhen and Tokyo.
Golden Goose (GG) is an Italian luxury footwear and clothing company. The brand is best known for handmade sneakers with a distinctive worn, vintage look. The headquarters is located in Milan (Italy).
Read also in our Telegram channel "Mergers and acquisitions. AK&M».
