Hsg acquires majority stake in Golden Goose Group

In a statement this evening, Golden Goose Group spa announced that Hsg, an international venture capital and private equity firm, will acquire a majority stake in the group. Temasek, a global investment company, and a fund managed by its wholly-owned asset manager, True Light Capital, will also acquire a minority stake.

Silvio Campara to continue leading the group as chief executive officer

The funds managed by Permira have partially divested their investment in Golden Goose and will retain a minority stake in the group.

The financial terms of the transaction were not disclosed. However, market sources indicate the deal is valued at 2.5 billion. The deal is expected to be finalised by summer 2026.

Silvio Campara will continue to lead the group as chief executive officer, alongside the current leadership team. Marco Bizzarri, currently a non-executive director on the Golden Goose board, will become non-executive chairman.

The new partners will leverage their experience and track record in international luxury and technology investments. These include Temasek's investments in Moncler and Ermenegildo Zegna Group, and Hsg's in Pop Mart, RedNote and Marshall. They will support Golden Goose's international ambitions as a next-generation global luxury company, while preserving and continuing to invest in the Group's 'Made in Italy' heritage.

In the nine months ending late September 2025, Golden Goose recorded double-digit growth across all geographical areas. Revenues increased by 13 percent year-over-year, driven by a 21 percent increase in the direct-to-consumer channel and the expansion of its retail network. The network has now reached 227 directly-owned stores, compared to 97 in 2019.

Hsg and Temasek pick stake in Golden Goose

“We are thrilled to welcome Hsg and Temasek as strategic partners for Golden Goose to further strengthen our global growth ambitions as a leading international luxury brand,” stated Campara. “Their investment is a testament to the success of our model, positioned at the intersection of luxury, lifestyle and sportswear, and loved by a growing global community of dreamers.”

“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 worldwide for generations to come,” added Jiajia Zou, a partner at Hsg.

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