‘A vote of confidence’: Golden Goose welcomes HSG as new majority investor

Golden Goose has confirmed a change in ownership that will see private investment firm HSG take over the reins from Permira as majority shareholder, with Singapore-based investment group Temasek taking a minority stake. This comes the Italian luxury label prepares for its "next phase" of global expansion.

Funds advised by Permira, alongside existing shareholder Carlyle, have partially exited their positions but will retain minority stakes in the business. Permira will continue as a strategic minority shareholder.

The transaction reshapes the ownership of Golden Goose while keeping leadership continuity in place. Chief Executive Silvio Campara will continue to lead the group, with Marco Bizzarri, former Gucci CEO, stepping into the role of Non-Executive Chairman.

Golden Goose, known for its intentionally scuffed up luxury trainers, has skyrocketed in recent years. Revenues have more than doubled since 2020, rising from €266 million (£232 million) to €655 million (£572 million) in FY2024, driven by accelerated direct-to-consumer growth, experiential retail concepts and its co-creation-led community model.

In the nine months to September 2025, the group reported 13% year-on-year revenue growth, with direct-to-consumer sales up 21%. Its store network has expanded rapidly, reaching 227 directly operated stores globally, compared with 97 in 2019.

The new ownership structure brings together investors with deep experience across luxury, consumer and technology-led brands. Temasek’s portfolio includes stakes in Moncler and Ermenegildo Zegna Group, while HSG has backed fast-growing global consumer brands such as Pop Mart, Marshall and RedNote.

CEO Silvio Campara said the investment marked "another vote of confidence" in Golden Goose’s positioning and long-term potential. "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," he added.

Permira partners Francesco Pascalizi and Tara Alhadeff noted: "This transaction with HSG and Temasek is testament to both Golden Goose’s success and also its future ambition – continued global growth and innovation."

Financial terms were not disclosed. The deal is expected to be completed in summer 2026, subject to regulatory approvals. Golden Goose also confirmed it expects to redeem its €480 million (£419 million) senior secured floating rate notes due 2031 around the time of completion.