The global luxury landscape has been reshaped by the HSG’s acquisition of a controlling stake in the brand Golden Goose. Valued at approximately €2.5 billion, the deal marks one of the most significant infusions of Chinese capital into European fashion to date.
While Temasek and True Light Capital have secured minority stakes, the entry of HSG - formerly Sequoia China - signals a pivot toward a tech-integrated, ‘community-first’ luxury model. Expected to close by summer 2026, the transaction aims to leverage HSG’s prowess in consumer technology to scale the brand’s digital and Asian footprint while safeguarding its ‘Made in Italy’ artisanal heritage.
Industrial powerhouse at the helm
The appointment of industry titan Marco Bizzarri as Non-Executive Chairman provides a critical industrial anchor to the transition. The mastermind who scaled Gucci from €3.9 billion to nearly €10 billion, Bizzarri will partner with hard-charging Silvio Campara, CEO to steer the ‘perfectly imperfect’ sneaker label. This leadership duo enters a position of strength: Golden Goose reported a 13 per cent revenue jump in the first nine months of 2025, reaching €517.1 million. Despite a broader slowdown in the luxury sector, the brand’s direct-to-consumer (DTC) channel grew by 21per cent, proving that its ‘co-creation’ experiential retail model is successfully insulating it from the ‘quiet luxury’ downturn affecting traditional heritage houses.
Founded in Venice in 2000, Golden Goose defined the ‘luxury sneaker’ category with its signature distressed aesthetic. It focuses on a high-touch lifestyle model, integrating the Forward Store concept for repair and personalization. The brand operates 227 directly operated stores (up from 97 in 2019) with a massive 79 per cent revenue dependency on DTC channels, particularly strong in EMEA and the Americas.
