Hong Kong-based investment firm backed by Joe Tsai, Co-founder, Alibaba, Blue Pool Capital has acquired a 12 per cent stake in Italian luxury sneaker brand Golden Goose. This investment follows Golden Goose's abrupt postponement of its planned stock market listing last year.
Blue Pool's expertise in sports, entertainment, and consumer industries, combined with its knowledge of the Asia Pacific market, will support Golden Goose’s expansion plans, says the brand. Blue Pool manages the assets of Tsai, who chairs the Chinese online retail giant and co-founded it with Jack Ma, as well as those of several families. Oliver Weisberg, CEO, Blue Pool Capital will join Golden Goose's board.
Private equity firm Permira will retain a majority stake in Golden Goose.
In June, Golden Goose unexpectedly halted its planned initial public offering (IPO) on the Milan Stock Exchange, citing market volatility due to political uncertainty in Europe. In November, Silvio Campara, CEO reiterated the company's commitment to an IPO but emphasized the need to wait for more favorable market conditions.
Golden Goose confirmed that the transaction with Blue Pool was negotiated and agreed upon shortly after the IPO postponement last year, and was finalized recently.
