Jack Ma and Joe Tsai Invest in Golden Goose to Support Brand's Expansion in Asia

On January 28, Blue Pool Capital, the investment firm co-founded by Jack Ma and Joe Tsai, announced that it had acquired a 12% minority stake in Golden Goose. Despite this new investment, Permira, the private equity firm that acquired a majority stake in Golden Goose for €1.2 billion in 2020, will continue to hold control of the brand.

Founded in 2004, Blue Pool Capital is a Hong Kong-based investment firm, co-established by Alibaba Group's founder Jack Ma and current chairman Joe Tsai, with assets managed in the billions. The firm's investment portfolio spans diverse sectors, with a particular focus on sports, entertainment, technology, and consumer markets. Blue Pool's notable investments include gaming company Azarus, women's sports media outlet Just Women's Sports, the Premier Lacrosse League, French fashion label Sézane, and travel platform GetYourGuide.

Golden Goose commented in its press release, “Blue Pool's investment marks an important milestone for Golden Goose, showcasing the brand's strong financial performance and potential as a global luxury player. Blue Pool's deep expertise in sports and music will help Golden Goose further expand in the Asia-Pacific region and increase its global presence.” Furthermore, Oliver Weisberg, CEO of Blue Pool Capital, will join the Golden Goose board of directors.

Golden Goose CEO Silvio Campara added, “We are excited to welcome Blue Pool Capital as a key partner in our brand's journey. This collaboration not only highlights Golden Goose's brand strength but also validates the value of our global 'Dreamer' community. With Blue Pool's industry expertise and their extensive connections in the Asia-Pacific and U.S. markets, as well as their experience in sports investments, we will continue driving innovation and offer distinctive, authentic experiences to our customers worldwide.”

The announcement comes shortly after Golden Goose decided to postpone its IPO on the Milan Stock Exchange, which was originally set for June 2024. Although the brand initially planned to offer 30% of its shares at a target valuation of $2 billion, the IPO was delayed due to a downturn in the European luxury market.

Despite this, Golden Goose's financial performance remains robust, with revenue growing by 12% year-on-year to €466 million in the first three quarters of 2024. The EMEA market contributed 49% of total revenue, the US market represented 38%, and Asia-Pacific made up 13%. Golden Goose continues to prioritize global expansion, particularly in the Chinese and U.S. markets.

Silvio Campara further highlighted China's significance, stating, “China is a crucial growth engine for luxury goods, and it's also a 'testing ground' for the brand's strategic evolution. Blue Pool Capital's investment will further enhance our expansion in the Asia-Pacific region and strengthen the bond between Golden Goose and its consumers.”

Oliver Weisberg, CEO of Blue Pool Capital, also expressed confidence in the brand's future: “We have been following Golden Goose's growth closely and are confident in its management team. The brand's unique positioning at the crossroads of luxury and activewear gives it significant growth potential. We look forward to supporting Golden Goose in unlocking its full market potential.”