Carlyle Weighs Sale of Luxury Shoe Brand Golden Goose

(Bloomberg) -- Carlyle Group LP is considering a sale of Golden Goose, the Italian luxury sneaker brand favored by celebrities from Selena Gomez to Taylor Swift, people with knowledge of the matter said.

The private equity firm is working with Bank of America Corp. on the potential deal, according to the people, who asked not to be identified because the information is private. Golden Goose, known for its vintage style footwear emblazoned with the brand’s iconic star on the side, could fetch more than 1 billion euros ($1.1 billion), the people said.

Golden Goose, founded in 2000 by Venetian designers Francesca Rinaldo and Alessandro Gallo, makes sneakers that can sell for 400 euros a pair. It generates annual earnings before interest, taxes, depreciation and amortization of about 80 million euros, the people said.

Deliberations are at an early stage, and there’s no certainty they will lead to a transaction, the people said. Representatives for Carlyle and Bank of America declined to comment.

Carlyle acquired Golden Goose from Ergon Capital Partners SA in 2017. The deal valued the business at about 400 million euros, people with knowledge of the matter said at the time.

©2019 Bloomberg L.P.

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