Qatar's sovereign wealth fund is set to acquire a stake
There appears to be room for maneuver regarding Golden Goose’s ownership structure. According to reports in *Il Corriere della Sera*, Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), is reportedly on the verge of acquiring a minority stake (around 10%) in the Italian company. It would thus join Chinese giant Hongshan Capital (HSG), an international venture capital and private equity firm that, last December, acquired the majority stake in the group led by Silvio Campara from Permira.
Meanwhile, Temasek, a global investment firm, and a fund managed by its wholly owned asset management arm, True Light Capital, hold a minority stake. No rumors have surfaced regarding the seller’s true identity. Permira, the former majority shareholder, has retained a minority stake in the group.
An estimated valuation of 2.5 billion euros
According to rumors circulating in recent months, the sale agreement reportedly valued Golden Goose at 2.5 billion euros. Based on that figure, Qia’s investment—again, according to the newspaper’s report—could be worth between 200 and 300 million euros. Golden Goose, Permira, and HSG have declined to comment.
Even after the agreement with Hsg was finalized, Silvio Campara continues to lead the group as CEO. Marco Bizzarri, for his part, recently became non-executive chairman.
Sustained growth and strong results in 2025
Meanwhile, the Venice-based company closed out 2025 with net revenue of €734 million, up 15% at constant exchange rates compared to the previous year. Specifically, sales through the direct-to-consumer channel rose 21% year-over-year, accounting for 81% of total net revenue, driven by 17 new store openings during the year. Among the major markets, the EMEA region grew by 18%, APAC by 17%, and the Americas by 9%.
Profitability is also strong: adjusted EBITDA came in at €248.3 million, with a margin of 34%. Cash and cash equivalents stood at €94.4 million.