Permira, owner of North Face, bidder for sneaker brand Golden Goose-source

Pamela Barbaglia, Stephen Jukes and ELISA Anzolin

Reuters London / Milan November 28-A person familiar with the matter told Reuters that the US Apparel and Footwear Enterprise Federation VF Corporation and the acquisition funds Permira and Advent waited in line for the indicative directive of Italian footwear brand Golden Goose before the deadline in mid-December Quote.

Golden Goose, owned by Carlyle CG.O, a private equity fund, produces luxury sneakers for about 400 euros ($ 440) per pair and is being sold during an auction led by Bank of America.

Sources said that the Venice-based company was founded in 2000 by designers Francesca Rinaldo and Alessandro Gallo, with a market capitalization of 1.4 billion euros, causing financial Interest from investors and some American fashion groups.

Sources said that the owner Carlyle Group has invited a small number of bidders to submit a non-binding offer in mid-December, which is the first step of the auction and is expected to be completed early next year.

A Carlyle spokesman declined to comment.

Carlyle is also the owner of the fashion brand Twin Set. Given the slowdown in consumer growth caused by the trade war between the United States and China and the turmoil in Hong Kong, Carlyle wants to secure new investors despite the gloomy outlook for luxury goods companies One source who was able to grow the business said.

Another source said that the Washington-based acquisition fund aims to accept no less than 1.2 billion euros for cheap golden goose, equivalent to 15 times its core earnings of about 80 million euros.

Martens owner Permira Ph.D. is seen as a strong contender for its luxury brands including Valentino and Hugo Boss, which were once part of its portfolio of expertise assets, some sources said.

Another source said that London-based Permira faces competition from rivals Advent and numerous industry players including apparel giant VF Corporation, which controls other brands such as North face, Eastpak, Timberland and Vans.

Two other US conglomerates, PVH Group PVH.N and Tapestry TPR.N, may also decide to enter the bidding contest, a fourth source said and cautioned that no deal is certain.

PVH owns Calvin Klein and Tommy Hilfiger, while Tapestry is known as the owner of Coach and Kate Spade.

Permira declined to comment, while Advent, VF Corporation, PVH Corp and Tapestry did not immediately comment.

Carlyle acquired Golden Goose from mid-market investment firm Ergon Capital in 2017 and continues to adjust its management team and opened flagship stores in New York, Tokyo and Beijing to expand its operations in the US and Asia.

Led by CEO Silvio Campara, Golden Goose has also expanded its product portfolio to include leather goods-based clothing and accessories.