Golden Goose Group Welcomes HSG as Majority Investor, Alongside Temasek as Minority Shareholder

MILAN – December 19, 2025 – Golden Goose Group S.p.A. (“Golden Goose” or “the Group”), a leading next-generation luxury brand, today announced that HSG, a leading international venture capital and private equity firm, will acquire a majority stake in the Group, with Temasek, a global investment company, and a fund managed by its wholly-owned asset manager, True Light Capital, joining as minority investors. Funds advised by Permira, as well as other existing shareholders including Carlyle, have partially realized their investment in Golden Goose and will retain a minority investment in the Group.

Golden Goose is a next-generation global luxury brand operating at the intersection of luxury, lifestyle, and sportswear. Since 2020, the Group has delivered consistent, strong, and profitable growth, with revenues increasing from €266 million in FY 2020 to €655 million in FY 2024. During this period, the Group has accelerated its direct-to-consumer (DTC) channels, launched its Forward Store concept, diversified its product assortment, and invested significantly in Co-Creation experiences, deepening connections with its customers worldwide.

This investment comes amid a period of strong financial performance for Golden Goose. In the nine months ended September 2025, the Group reported double-digit growth across regions. Revenues rose 13% year-on-year, driven by 21% growth in its DTC channel and an expanded store network, which reached 227 directly operated stores, up from 97 in 2019.

The investment is underpinned by a strong strategic and cultural fit with Golden Goose’s growth ambitions. Drawing on the new investors’ combined experience and track records investing in international luxury and consumer technology brands, such as Moncler and Ermenegildo Zegna Group by Temasek, and ByteDance, Pop Mart, RedNote, and Marshall by HSG, they will support Golden Goose’s international ambitions as a leading next-generation luxury brand, while preserving and continuing to invest in Golden Goose’s Made in Italy roots.

Silvio Campara will continue to lead the Group as Chief Executive Officer, alongside the existing leadership team. Marco Bizzarri, currently a Non-Executive Director on the Golden Goose board, will become Non-Executive Chairman. He brings significant industry expertise, shaped by his leadership of globally renowned luxury brands including Gucci, Bottega Veneta, and Kering, and will play an important role in accelerating Golden Goose’s next phase of global expansion.

Silvio Campara, Chief Executive Officer of Golden Goose, said: “We are delighted to welcome HSG and Temasek as strategic partners to Golden Goose as we step up our global ambitions as a leading international luxury brand. Their investment is yet another vote of confidence in the success of our model at the intersection of luxury, lifestyle, and sportswear, beloved by a growing, global community of Dreamers. With their experience of scaling international leaders across luxury and the broader business spectrum, HSG and Temasek will help us unlock the vast opportunity ahead for Golden Goose. We are grateful to Permira for being integral partners to our successful journey so far and are delighted they will remain valued partners alongside HSG and Temasek.”

Jiajia Zou, Partner at HSG, said: “Golden Goose stands for love, empathy, authenticity and a powerful sense of community in today’s luxury landscape. We feel deeply privileged to partner with Temasek and Permira, together with Silvio and his talented team to support the brand as it enters its next exciting chapter of growth – especially internationally – while preserving and celebrating what makes Golden Goose so uniquely Italian. We look forward to contributing our global experience, resources, and deep respect for the brand’s heritage, with the shared ambition of bringing the unique joy and spirit of Golden Goose to consumers around the world, for generations to come.”

About Golden Goose

Golden Goose is a Next Gen global luxury company founded on a passion for all things that are “perfectly imperfect,” authentic and unique.

Born in 2000, it operates at the intersection of luxury, lifestyle, and sportswear. It is specialized in the sourcing, design, and distribution of sneakers – some of which have become icons in the market – as well as apparel, bags, and other accessories. High quality, attention to detail, and a “lived-in” look have become the distinctive features of Golden Goose.

With the ambition of bringing Italy’s “hand-made tradition” to the world, the brand blends artisanal craftsmanship with “Made in Italy” manufacturing, creating products that combine Italian wearability with an urban vintage flavor. Today, Golden Goose, whose products resonate deeply with a new generation of luxury consumers, has a community of 2 million Dreamers. Golden Goose is present in the Americas, Europe, the Middle East, and APAC, with 227 stores and a strong online and wholesale distribution.