Wednesday 12 February 2020 5:38 pm

Dr Martens owner snaps up luxury trainer brand Golden Goose for €1.3bn

Permira, the private equity owner of Dr Martens and Reformation, has snapped up Italian trainer brand Golden Goose for €1.28bn.

US private equity firm Carlyle has sold its majority stake in the luxury fashion brand after buying the firm in 2017, the companies announced today.

Read more: Permira prepares to appoint bankers to oversee sale or US IPO of British footwear brand Dr Martens

Permira was battling with rival private equity firm Advent and US SPAC Acamar, Reuters said, citing sources. 

The firm was reportedly considered to be a strong contender due to experience with luxury brands Valentino and Hugo Boss, which were formerly part of its portfolio. 

During Carlyle’s ownership, revenues more than doubled from €100m to more than €260m in 2019. 

Permira partner Francesco Pascalizi said: “Golden Goose is a ‘next-gen’ luxury brand and can be considered the ‘creator’ of the high-end sneakers category. 

“Over recent years the company has experienced outstanding growth, driven by its excellent management team. 

“We look forward to leveraging our experience to support Golden Goose through the next phase of development. 

Silvio Campara, chief executive at Golden Goose, added: “Today marks an important milestone for the brand, as we partner with Permira.”

Read more: Luxury goods giant LVMH ‘cautiously confident’ about 2020

Golden Goose was founded in 2000 with Francesca Rinaldo and Alessandro Gallo, before it was taken over by Italian private equity fund DGPA.

The brand was then sold to Ergon Capital in 2015, before it moved to Carlyle, allowing it to expand across the US and Asia with flagship stores in New York, Tokyo and Beijing.