Italian luxury sneaker maker Golden Goose said that Chinese private equity firm HSG, formerly known as Sequoia Capital China, had become its majority shareholder after buying a stake from current owner Permira, reports Reuters. Singapore’s investment firm Temasek, alongside its subsidiary True Light, has also bought a minority stake in the Venice-based maker of sneakers that retail starting at €500 a pair.
The accord gives Golden Goose a valuation of around €2.5 billion ($3 billion) including debt, a source close to the matter said. The statement did not disclose financial details.
Permira, which acquired Golden Goose in 2020 paying €1.28 billion, will retain a minority stake alongside other existing shareholders including Carlyle, the company said.