Published by Global Banking and Finance Review
Posted on November 12, 2025
2 min readLast updated: January 21, 2026
Permira is negotiating a $3 billion sale of Golden Goose to HongShan, a strategic move in the luxury sneaker market.
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.
HSG and Permina declined to comment.
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.
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)
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.
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure used to analyze a company's operating performance.
Explore more articles in the Headlines category
