Carlyle acquires 100% of Golden Goose Deluxe Brand

Global alternative asset manager The Carlyle Group (NASDAQ: CG) and a pool of investors led by Ergon Capital Partners today executed the agreement for the acquisition by Carlyle Europe Partners IV (CEP IV) of the entire shareholding in Golden Goose Deluxe Brand, an Italian luxury lifestyle fashion company. Today the company is controlled by Ergon Capital Partners III S.A. and participated by Zignago Holding S.p.A., the company’s founders and the Management team.

The transaction is expected to close by the end of March 2017. The investment will be made by Carlyle Europe Partners IV (CEP IV), a European-focused upper-mid market buyout fund. Golden Goose Deluxe Brand will be Carlyle’s fourth significant investment in the European fashion and apparel sector following previous investments in Moncler, TwinSet Simona Barbieri and Hunkemoller.

Established in 2000 with headquarters in Venice, Italy, Golden Goose Deluxe Brand is a fastgrowing high-end lifestyle fashion company, with strong positioning in the luxury sneaker market globally. Thanks to its distinctive product design and appeal, in the last few years the company has already delivered a consistent track record of continuous high growth, generating more than 100 million Euros revenues in 2016, with international markets accounting for almost 60% of such revenues.

Golden Goose Deluxe Brand is distributed worldwide through a network of more than 700 exclusive multi-brand stores and franchisees, along with 8 directly operated flagship stores.

Marco De Benedetti, Managing Director and Co-Head, Carlyle Europe Partners, said: “We admire Golden Goose’s stylistic unique brand identity, effective business model and undisputed capacity to innovate and create a new category of ‘luxury fashion sneakers’. We look forward to supporting Golden Goose Deluxe Brand with our strategic industry knowledge and through investments to build the potential for the brand, especially in United States and Asia, and predominantly though an acceleration of its worldwide retail and online presence.”

Emanuele Lembo, Managing Partner of Ergon Capital Advisors, added: “This transaction is exactly in line with Ergon’s investment philosophy and approach and we are very pleased with the successful partnership that Ergon has established with an excellent management team and its co-investors. Over the life of this investment, Ergon has supported the extraordinary development of the company accelerating its sales growth, also through the expansion of the retail network, with a constant focus on operational excellence. We trust that Golden Goose  Deluxe Brand and its outstanding management team will succeed in further creating value in the future and we are convinced that The Carlyle Group is the perfect partner for the company’s next phase of growth.”

About Golden Goose Deluxe Brand

Golden Goose Deluxe Brand is a leading Italian designer of contemporary luxury casual wear and accessories, mostly known globally for its Golden Goose sneakers brand. Since its foundation, the Company’s development strategy has been built on a high-end market positioning, proposing a contemporary, unique and consistent style over time with distinctive brand identity supported by a highly selective wholesale and retail distribution network in key markets such as Italy, UK, France, USA, Japan, Korea and more recently China. Golden Goose Deluxe Brand develops total look collections for both men and women and caters to the needs of quality-conscious sophisticated customers in search of a lifestyle brand that offers distinctiveness and differentiation from the mainstream global luxury brands. Headquartered in Venice, Italy, the company generated in 2016 sales in excess of 100 million Euros of which ~60% realized outside Italy and with a growth rate of ~30% on the previous year. Golden Goose Deluxe Brand is distributed worldwide through a network of over 700 exclusive multi-brand stores and franchisees, along with 8 directly operated flagship stores.

 

Source: Carlyle Press Release

 

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