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golden goose sale

Taylor Swift’s Golden Goose sneaker brand sold to Permira for € 1.3 billion

cheap golden goose
cheap golden goose

According to people familiar with the matter, Golden Goose is an Italian luxury sports shoe brand worn by celebrities such as Taylor Swift and Selena Gomez. According to the acquisition of private equity firm Permira, the transaction value is approximately For 1.3 billion euros ($ 1.09 billion).

Established in Venice in 2000 by designers Alessandro Gallo and Francesca Rinaldo, this pre-worn style shoe is adorned with the brand’s iconic star and sells for up to 400 euros per pair.

Permira is acquiring Golden Goose from the US acquisition group Carlyle CG, an increase of 7.27%. The company acquired the business in 2017 from a group of investors led by Ergon Capital Partners.

The transaction marks the fourth time the company has been owned by an acquisition company in the past five years. Ergon Capital originally purchased a majority stake in the sneaker brand from DGPA, Riello Investimenti and the company’s founders in 2015.

Under Carlyle’s ownership, Golden Goose has expanded from 7 stores with approximately 100 million euros in sales and 32 million euros before interest, taxes, depreciation and amortization to approximately 260 million euros in sales, with 8,000 90 stores before interest income of 10,000 euros, tax, depreciation and amortization.

The company is headed by CEO Silvia Campera, and the number of employees has also increased from 100 to 300 during this period.

“Today, our partnership with Permira marks an important milestone for the brand. As we continue to grow and deliver our products to an increasing number of global audiences, their experience and outstanding record in the consumer space will be Priceless. “Kampala said in a statement.

Transactions in the luxury fashion sector have been accelerating in recent months as private equity firms hope to deploy a record number of dry powders. Last month, European private equity firm Peninsula Capital acquired a minority stake in French luxury fashion retailer Zadig & Voltaire at an undisclosed price. The fashion group said it will continue to hold a majority stake in its founder Thierry Gillier, while its current minority partner, TA Associates, will sell its shares. investment.

Permira is wandering around Dr. Martens, a British company known for its iconic stomping boots, which is estimated to cost £ 1.2 billion. As of March 2019, Dr. Martens’s profits have increased by 70%, thanks to the success of his “vegan” line of boots, which now account for approximately 4% of total sales.