Hsg becomes majority shareholder of Golden Goose

Hsg has become the majority shareholder of Golden Goose Group. The international venture capital and private equity firm has completed the acquisition of a majority stake in the company.

Marco Bizzarri appointed non-executive chairman with immediate effect

Global investment company Temasek and True Light Capital, an asset manager wholly owned by Temasek, have completed their investment as minority shareholders. Permira will remain a strategic minority shareholder.

A statement read: “The investments by Hsg and Temasek are based on a strong strategic and cultural affinity and represent a new stage in Golden Goose's global growth journey.”

Golden Goose has recorded consistent and profitable growth. Its revenue increased from 266 million in the 2020 financial year to 734 million in the 2025 financial year. More recently, the group reported first-quarter revenue growth of 10 percent year-over-year to 173.2 million, supported by strong performance across all geographical areas.

“Today marks the beginning of an exciting new chapter for Golden Goose. We are delighted that Hsg and Temasek are officially joining our journey as strategic partners,” said CEO Silvio Campara, who will continue to lead the company. “We look forward to benefiting from their extensive experience in the international development of luxury brands and in accelerating innovation, as we strengthen our global ambitions and bring Golden Goose to more Dreamers around the world.”

“Golden Goose is a one-of-a-kind luxury brand. Its Italian heritage, pioneering model and authentic tone of voice are able to create connections with a constantly growing and deeply passionate global community,” added Jiajia Zou, a partner at Hsg. “We are happy to support Silvio and his talented team, together with Temasek and Permira, to seize new growth opportunities, while enhancing what has made the brand a success story to date.”

Business has grown from 266 million in revenue in 2020 to 734 million in 2025

“What Silvio and his extraordinary team have achieved over the past six years is truly remarkable. The business has grown from 266 million in revenue in 2020 to 734 million in 2025,” said Francesco Pascalizi and Tara Alhadeff, partners at Permira. “The team has accelerated the brand's direct-to-consumer model, turning it into a powerful engine for growth, and has expanded the store network to 232 locations across EMEA, the Americas and APAC.”

The note specified: “Leveraging the global presence of Hsg and Temasek and their respective track records in the global development of consumer brands and innovation platforms, the group will continue to accelerate its international expansion and innovation platform. It will strengthen its distinctive direct-to-consumer model and the brand's global resonance at the intersection of luxury, lifestyle and sportswear, while preserving and continuing to invest in Golden Goose's made-in-Italy roots.”

Silvio Campara will continue to lead Golden Goose as chief executive officer, alongside the current leadership team. Marco Bizzarri, previously a non-executive member of the board of directors since April 2024, now assumes the role of non-executive chairman.

The financial terms of the transaction were not disclosed.

Jp Morgan acted as lead financial advisor and Bank of America as financial advisor to Permira. Giliberti Triscornia e Associati acted as legal advisor and Maisto e Associati as tax advisor to Permira.

Ey conducted the financial due diligence for Permira. The chief executive officer Silvio Campara and the management team were assisted by Gatti Pavesi Bianchi Ludovici, with a team led by equity partner Andrea Giardino and partner Filippo Sola, and by Ropes & Gray.

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