Who owns GOLDEN GOOSE?

GOLDEN GOOSE has been 100% owned by HSG (FORMERLY SEQUOIA CAPITAL CHINA) since December 2025.

At what enterprise value was GOLDEN GOOSE acquired in 2025?

During the acquisition of GOLDEN GOOSE by HSG (FORMERLY SEQUOIA CAPITAL CHINA) in 2025, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of GOLDEN GOOSE when it was acquired by HSG (FORMERLY SEQUOIA CAPITAL CHINA)?

The estimated EV/EBITDA multiple for GOLDEN GOOSE is in the range of 10x - 18x.

What was the revenue of GOLDEN GOOSE at the time of the deal?

The revenue of GOLDEN GOOSE at the time of the deal is estimated to be in the range of 450M - 900M EUR.

What was the EBITDA of GOLDEN GOOSE during the acquisition?

GOLDEN GOOSE's EBITDA is estimated to be in the range of 150M - 250M EUR.

How is the data for the GOLDEN GOOSE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the GOLDEN GOOSE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://sgbonline.com/golden-goose-acquired-by-chinese-fund-hsg-at-e2-5-valuation/

What is the average EV/EBITDA multiple for the Retail & Consumer sector in 2026?

The average EV/EBITDA multiple for the Retail & Consumer sector in 2026 is 11.2x.

← DATABASE

Home Database Retail & ConsumerGOLDEN GOOSE

12/2025

GOLDEN GOOSE acquired by HSG (FORMERLY SEQUOIA CAPITAL CHINA)

ITALY Consumer Products / Fashion & Apparel EV 1b - 4b EUR

Context

HSG acquired a majority controlling stake in Golden Goose from Permira in a transaction valuing the company at approximately EUR2.5 billion. This deal serves as a strategic alternative to the IPO that was withdrawn in 2024. The industrial logic is clear: bringing in HSG and Temasek provides Golden Goose with unparalleled access to the Chinese and Asian markets, which are critical for the brand's next phase of growth. Permira retains a minority stake to benefit from this future upside.

In the past, the company had already been the subject of several LBOs, notably led by The Carlyle Group in 2017 and Permira in 2020. This succession of buyouts highlights the strong attractiveness of the company's business model.

GOLDEN GOOSE, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a level the average currently observed in the Retail & Consumer sector (11.2x).

-> Deep-dive in Retail & Consumer market trends

Target

Golden Goose is an italian luxury shoes brand, famous for its "superstar" model with the iconic star and deliberately worn-out look, the brand bridges the gap between streetwear and high fashion. Its products are distributed through a strong wholesale network and flagship stores.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2024

2023

Other operations with GOLDEN GOOSE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
12/2020	PERMIRA	GOLDEN GOOSE	ITALY	Fashion & Apparel
02/2017	THE CARLYLE GROUP	GOLDEN GOOSE	ITALY	Fashion & Apparel
05/2015	APHEON (EX ERGON)	GOLDEN GOOSE	ITALY	Fashion & Apparel

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 150M - 250M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GOLDEN GOOSE by HSG (FORMERLY SEQUOIA CAPITAL CHINA) are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: golden goose