Luxury Sneaker Maker Golden Goose Secures Strategic Investment
In a significant move, Hong Kong-based investment firm Blue Pool has acquired a 12% stake in Italian luxury sneaker brand Golden Goose. This development comes on the heels of Golden Goose’s decision to scrap its initial public offering (IPO) plans last year.
A Strategic Partnership
The investment is expected to leverage Blue Pool’s extensive expertise in the sports, entertainment, and consumer industries, as well as its in-depth knowledge of the Asia Pacific market. This partnership will enable Golden Goose to expand its global reach and tap into new markets.
A Vote of Confidence
Golden Goose’s decision to partner with Blue Pool is a testament to the brand’s commitment to growth and expansion. The investment firm, which manages the assets of Alibaba co-founder Joe Tsai, brings a wealth of experience and resources to the table.
New Board Member
As part of the agreement, Oliver Weisberg, CEO of Blue Pool Capital, will join Golden Goose’s board of directors. This move is expected to bring fresh perspectives and insights to the company’s leadership team.
Permira Retains Majority Stake
Private equity firm Permira will continue to hold a majority stake in Golden Goose, ensuring stability and continuity for the company.
A Brief History
In June last year, Golden Goose unexpectedly halted its IPO plans on the Milan bourse, citing market volatility caused by political uncertainty in Europe. Despite this setback, the company remains committed to going public and is waiting for the right market conditions to restart the process.
A New Chapter
The transaction with Blue Pool was negotiated and agreed upon shortly after the IPO postponement and was completed on Tuesday. This strategic partnership marks a new chapter in Golden Goose’s growth journey, and the company is poised to capitalize on new opportunities in the luxury sneaker market.
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