Published by Global Banking & Finance Review®
Posted on December 8, 2025
1 min readLast updated: January 20, 2026
Add as preferred source on GoogleHongShan Capital plans a $2.9 billion acquisition of Golden Goose, aiming to finalize by Christmas, with expansion in Asia and potential IPO plans.
ROME, Dec 5 (Reuters) - China's HongShan Capital Group (HSG) has sent a 2.5 billion euro ($2.91 billion) offer to private equity Permira to buy Italian luxury sneaker maker Golden Goose, with the aim of signing the deal by Christmas, daily la Repubblica reported on Friday.
Details still need to be defined but the offer gives the luxury group an enterprise value of 10 times the core profit expected by the end of the year, debt included, the newspaper said.
Golden Goose's revenues totalled 655 million euros in 2024, with an adjusted core profit of 227 million euros.
HSG has asked veteran fashion industry executive Marco Bizzarri to become Golden Goose's future chairman, la Repubblica said, adding that the Chinese private equity aims to expand Golden Goose's directly-managed stores, particularly in Asia, and plans to list the group in the medium-term.
Last year the Venice-based company, which sells sneakers for more than 500 euros a pair, shelved plans for an initial public offering on the Milan Bourse, citing market volatility caused by political uncertainty in Europe.
($1 = 0.8579 euros)
(Reporting by Giulia Segreti, editing by Alvise Armellini)
Private equity refers to investment funds that buy and restructure companies not listed on public exchanges, aiming for higher returns through operational improvements and strategic growth.
Luxury goods are high-quality products that are not essential but are desired for their quality, exclusivity, and prestige, often associated with brands like Golden Goose.
An Initial Public Offering (IPO) is the process through which a private company offers shares to the public for the first time, allowing it to raise capital from public investors.
Enterprise value is a measure of a company's total value, often used as a comprehensive alternative to market capitalization, including debt and excluding cash.
Corporate strategy refers to the overarching plan and direction of a company, focusing on long-term goals, resource allocation, and competitive advantage.
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