Updated 1:03 p.m. ET on June 24

MILAN — The deal between Golden Goose and international venture capital and private equity firm HSG was completed on Wednesday, with the latter becoming majority shareholder of the Italian brand.

More from WWD

Major Sports Events Are Driving Cultural and Brand Impact

Madonna Gives Saint Laurent's Slingback Mood a Hot Pink Cap-toe Turn in Paris

Rachel Brosnahan Mirrors Corset Lacing With René Caovilla Platforms at the 'Supergirl' Premiere

Temasek and True Light Capital, an asset manager wholly-owned by Temasek, joined as minority investors. And Permira will remain committed as a strategic minority shareholder.

Silvio Campara is staying on as chief executive officer and Marco Bizzarri, previously a non-executive director on the board since April 2024, will become non-executive chairman, effective immediately.

The acquisition was revealed in December and financial terms of the transaction were not disclosed.

"Today marks the beginning of an exciting new chapter for Golden Goose. We are thrilled that HSG and Temasek are officially joining us as strategic partners," Campara said. "We look forward to benefiting from their vast experience of scaling international brands across luxury and accelerating innovation as we step up our global ambitions and bring Golden Goose to more Dreamers around the world. This investment is yet another endorsement of our unique model and the global resonance of our brand and will help us unleash Golden Goose's full potential as a leading Next Gen luxury brand."

In an interview with Bizzarri and Francesco Pascalizi, partner at Permira, Campara touted how Bizzarri "created a culture of collective positivity in all the companies where he has worked, with a social impact, and he leads us to be the best versions of ourselves. He is a life master."

Asked about HSG, Campara said "there are many investors with money, but a cultural partner is rare, and their interest is extremely validating for us." He also underscored that there is no intention to create products, campaigns or marketing initiatives solely dedicated to China, but that the fund "can help our execution" in that market.

Under Campara's lead, Golden Goose has delivered consistent growth, with revenues increasing to 734 milion euros in 2025 from 266 million euros in 2020.

In the first quarter, sales climbed 10 percent to 173.2 million euros.

Bizzarri said he was "honored" by Campara's offer and that he had "fallen in love" with Golden Goose. "I've known Silvio now for two years as a member of the board, and I've seen how talented he is, bursting with inexhaustible ideas and energy, with an incredible passion, and this is very stimulating to me."

Bizzarri, after successfully developing his career as president and CEO of Gucci, and before that at Bottega Veneta and Stella McCartney, became an investor in Forel, which in 2024 entered into an agreement on behalf of the FARO fund to acquire a majority stake in Italian luxury interior design brand Visionnaire. He is also a partner in Orienta Capital Partners, and is a member of the board of the Giorgio Armani Group.

"Golden Goose is a truly one-of-a-kind luxury brand — its Italian heritage, pioneering model and authentic voice connect with a growing and passionate community around the world," said HSG partner Jiajia Zou. "We are pleased to be partnering with Silvio and his talented team, as well as Temasek and Permira to unlock new opportunities for growth, while honoring what has made the brand so successful to date."

Pascalizi was equally enthusiastic about the brand and about staying on as an investor, "with an important double-digit stake," he revealed. "I've seen the brand flourish and mature and the best is yet to come."

He recalled how Permira was interested in Golden Goose as far back as 2016, but Carlyle in 2017 acquired the Marghera, Italy-based sneaker company, from Ergon Capital Partners and Zignago Holding SpA, controlled by the Marzotto family, as well as the company's founders and management team.

Ergon acquired a majority stake in Golden Goose in 2015. Style Capital held a minority stake in the Italian brand, which was founded by creative directors Alessandro Gallo and Francesca Rinaldo.

Regarding rumors about a potential sale of a 10 percent stake to the Qatar Investment Authority, Pascalizzi said there was no official comment.

The newly completed transaction is expected to position Golden Goose to continue to strengthen its direct-to-consumer business, which in the first quarter remained the growth driver with revenues climbing 19 percent and representing 81 percent of the total. This was driven by double-digit, like-for-like performance in retail, as well as a strong digital performance. There are 232 Golden Goose stores across the Europe, Middle East and Africa region, the U.S. and Asia Pacific.

Golden Goose is expected to open its biggest store in the world, Haus Milano, this year. The outpost will be located in a renovated 1930s building, the former Garage Traversi near Via Montenapoleone, covering four floors and 27,000 square feet.

In a joint statement, Pascalizi and Permira partner Tara Alhadeff, said Golden Goose "has disrupted established models in the luxury industry and in the process built a real connection with customers worldwide."

Best of WWD

EXCLUSIVE: Sean Combs Regains Control of Sean John Brand

Isabel Marant Said in Play Again: Sources

Holding Industriale Invests in Shoe Specialist Valmor

Sign up for WWD's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.