Global alternative asset manager The Carlyle Group and a pool of investors led by Ergon Capital Partners have executed an agreement for the acquisition by Carlyle Europe Partners IV of the entire shareholding in Golden Goose Deluxe Brand, an Italian luxury lifestyle fashion company. Today the company is controlled by Ergon Capital Partners III S.A. and participated by Zignago Holding S.p.A., the company’s founders and the management team.
The transaction is expected to close by the end of March 2017. The investment will be made by Carlyle Europe Partners IV, a European-focused upper-mid market buyout fund. Golden Goose Deluxe Brand will be Carlyle’s fourth significant investment in the European fashion and apparel sector following previous investments in Moncler, TwinSet Simona Barbieri and Hunkemoller.
“We admire Golden Goose’s stylistic unique brand identity, effective business model and undisputed capacity to innovate and create a new category of ‘luxury fashion sneakers’,” said Marco De Benedetti, managing director and co-head, Carlyle Europe Partners. “We look forward to supporting Golden Goose Deluxe Brand with our strategic industry knowledge and through investments to build the potential for the brand, especially in United States and Asia, and predominantly though an acceleration of its worldwide retail and online presence.”
“This transaction is exactly in line with Ergon’s investment philosophy and approach and we are very pleased with the successful partnership that Ergon has established with an excellent management team and its co-investors,” added Emanuele Lembo, managing partner of Ergon Capital Advisors. “Over the life of this investment, Ergon has supported the extraordinary development of the company accelerating its sales growth, also through the expansion of the retail network, with a constant focus on operational excellence. We trust that Golden Goose Deluxe Brand and its outstanding management team will succeed in further creating value in the future and we are convinced that The Carlyle Group is the perfect partner for the company’s next phase of growth.”
Established in 2000 with headquarters in Venice, Italy, Golden Goose Deluxe Brand is a fast-growing high-end lifestyle fashion company, with strong positioning in the luxury sneaker market globally. Thanks to its distinctive product design and appeal, in the last few years the company has already delivered a consistent track record of continuous high growth, generating more than 100 million Euros revenues in 2016, with international markets accounting for almost 60 percent of such revenues.
Golden Goose Deluxe Brand is distributed worldwide through a network of more than 700 exclusive multi-brand stores and franchisees, along with eight directly operated flagship stores.