Owner of the luxury brand Golden Goose, the Carlyle Private Equity Fund will sell the brand through an auction held by Bank of America. He sent out invitations to submit his applications to a small group of bidders by mid-December. This is the first stage of the auction process, which should be completed early next year.
Among the bidders for the auction appear the brand owner Dr. Martens Permira and the American VF Corporation, owning the brands North Face, Timberland, Vans.
PVH Corp can also take part in the competition, whose brands include Tommy Hilfiger and Calvin Klein, as well as Tapestry, which owns the Coach bag brand.
Carlyle acquired Golden Goose in 2017 from the investment company Ergon Capital and was engaged in its development in the US and Asian markets. The flagship brand stores are open in New York, Tokyo and Beijing.
According to Reuter since the purchase of the brand of luxury sneakers by Carlyle fund, its profitability has doubled. The range of goods sold under the Golden Goose brand has also expanded, with clothing and accessories added to the sneakers.
In general, the luxury brand, founded in Venice on 2000 in Venice by designers Francesco and Alessandro Gallo, is valued at approximately 1,4 billion euros.
During the auction, Carlyle expects to receive offers from bidders for the purchase of Golden Goose in the amount of at least 1,2 billion euros, which is 15 times the main brand revenue of approximately 80 million euros.
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