Private equity firm Ergon Capital Partners, which acquired a majority stake in Golden Goose Deluxe Brand only in 2015, has now sought to sell the Italian luxury sports and leisure footwear brand.
Founded in 2010, the Golden Goose Deluxe Brand stands out with the classic star “dirty white shoes” in the world of sports and leisure in recent years. The brand has now expanded its clothing line, with coats selling for more than € 2,000. Currently, the brand is mainly distributed through wholesale channels, and its business has doubled between 2012 and 2014. Its revenue in 2015 was about 77 million euros, of which more than half of its revenue came from international markets. The main markets include Japan, South Korea, France, Germany, Benelux Regions, and the United States.
Golden Goose Deluxe Brand held a 45 million euro holding in DGPA SGR SpA Riello Investimenti Partners in 2013, and the equity was transferred to mid-market investment companies Ergon Capital Partners and Zignano Holding SpA in May last year. The latter only participated in minority equity investments. The transaction amount Undisclosed, while brand co-founder and creative director Alessandro Gallo and Francesca Rinaldo continue to retain the remaining 25%.
Golden Goose Deluxe Brand has been actively expanding its retail network after receiving the pillars of the new owner, and has opened independent flagship stores in New York, Tokyo, Seoul, Milan, London and Paris.
Ergon Capital Partners, which manages 500 million euros of assets, is funded by Groupe Bruxelles Lambert SA and invests in various fields such as luxury goods, retail, industrial manufacturing and media. Bloomberg News quoted the fund as saying it is working with financial advisers to Lazard Ltd. to find a buyer for the cheap golden goose Deluxe Brand at a price of more than 400 million euros. The sale is still in its infancy and may spark interest from fund peers and other fashion brands.