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Permira in Talks With China's HongShan on $3 Billion Golden Goose Sale, Sources Say
Published by Global Banking & Finance Review®
Posted on November 12, 2025
2 min readLast updated: January 21, 2026
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Quick Summary
Permira is negotiating a $3 billion sale of Golden Goose to HongShan, a strategic move in the luxury sneaker market.
Permira Negotiates $3 Billion Sale of Golden Goose to HongShan
Permira and HongShan's Strategic Deal
MILAN (Reuters) -Private equity firm Permira is in advanced talks with China's HongShan Capital Group (HSG) to sell Italian luxury sneaker maker Golden Goose at a valuation of over 2.5 billion euros ($3 billion), two sources close to the matter said on Wednesday, confirming Italian newspapers' reports.
Overview of Golden Goose
HSG and Permina declined to comment.
Recent Financial Performance
Private equity firm HSG, formerly known as Sequoia Capital China, invests globally in the technology, healthcare, and consumer sectors. It established an office in London last year to tap into late-stage and buyout deal opportunities in Europe.
Market Context and Challenges
Golden Goose, which sells sneakers for more than 500 euros a pair, has undergone multiple leveraged buyouts by private equity firms in the last decade, with investors attracted by its rapid growth.
It was valued at 1.3 billion euros when it was acquired by private equity firm Permira in 2020.
Last year the Venice-based company shelved plans for an initial public offering on the Milan Bourse, citing market volatility caused by political uncertainty in Europe.
Golden Goose's revenues totalled 655 million euros in 2024, with an adjusted core profit (EBITDA) of 227 million euros.
Earlier this year Blue Pool, a Hong Kong-based investment firm backed by Alibaba co-founder Joe Tsai, bought a 12% stake in the company.
($1 = 0.8575 euros)
(Reporting by Elisa Anzolin, editing by Giselda Vagnoni and Elaine Hardcastle)
Key Takeaways
- •Permira is in talks to sell Golden Goose for $3 billion.
- •HongShan Capital Group is the potential buyer.
- •Golden Goose was valued at 1.3 billion euros in 2020.
- •Golden Goose's 2024 revenues reached 655 million euros.
- •Blue Pool recently acquired a 12% stake in Golden Goose.
Frequently Asked Questions about Permira in talks with China's HongShan on $3 billion Golden Goose sale, sources say
1What is private equity?
Private equity refers to investment funds that buy and restructure companies not listed on public exchanges, aiming to improve their profitability before selling them for a profit.
2What is EBITDA?
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure used to analyze a company's operating performance.