VF Corp. Reportedly Among Bidders for Golden Goose
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VF Corp. is reportedly making a bid for Golden Goose Deluxe Brand.
According to Reuters, the apparel and footwear conglomerate is said to be among the companies looking to snap up the high-end sneaker label from The Carlyle Group.
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The private equity firm has invited a small group of bidders to submit non-binding offers in mid-December, with an auction led by Bank of America Corp. expected to conclude early next year.
A spokesperson for VF Corp. said that the company does not comment on rumors or speculation.
The pool of companies that are reported to be lining up offers to acquire Golden Goose includes Tommy Hilfiger and Calvin Klein parent PVH Corp.; private equity fund Permira, which owns Dr. Martens; and Ralph Lauren Corp. Tapestry — owner of Coach, Kate Spade and Stuart Weitzman parent — has also expressed interest in the brand, reported FN’s sister publication WWD.
Golden Goose has seen revenues almost double since its acquisition in 2017, generating annual earnings of about 80 million euros, reported Reuters. It is most recognized for its Superstar sneaker, which accounts for more than a third of its total business and has been spotted on A-listers including Taylor Swift and Kendall Jenner.
The Italian shoe label was founded in 2000 by designers Francesca Rinaldo and Alessandro Gallo. News of its sale comes amid talks that former Gucci creative director Frida Giannini has been designing Golden Goose’s ready-to-wear and accessories for several months. (The brand is helmed by CEO Silvio Campara, with Giannini’s husband, Patrizio di Marco, serving as chairman.)
FN has reached out to Golden Goose for comment.
This story has been updated with a statement from VF Corp.
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