The potential investment would place QIA alongside existing shareholders HSG, previously known as Sequoia Capital China, Singapore’s Temasek and private equity firm Permira, which maintains a minority interest.
Golden Goose saw a change in majority ownership in December 2025 after HSG acquired a controlling stake from Permira. The transaction valued the business at €2.5bn ($2.8bn), including debt.
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Should QIA proceed at this valuation, its potential interest would be valued at approximately €250m, according to Corriere.
The Italian footwear brand recorded revenues of €734m in 2025, marking a 15% rise compared to the previous year on a constant currency basis.
Direct-to-consumer sales increased by 21% during the same period. Regional performance highlighted growth in Europe, the Middle East and Africa (EMEA) at 18%, Asia-Pacific at 17% and the Americas at 9%.
Golden Goose reported adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of €248.3m for 2025, representing 34% of total revenue.
Headquartered in Milan, Italy, the company currently operates 232 stores worldwide and focuses on the sourcing, design and distribution of trainers, alongside apparel and accessories.
In May 2025, Reuters reported that Golden Goose had ruled out an initial public offering for that year but remained open to merger and acquisition opportunities. The company said it withdrew a planned listing on the Milan stock exchange due to market volatility.
Last month, Golden Goose received Cradle to Cradle Certified Certification (Full Scope) Bronze level for its HAUS T-shirt collection last month. The collection is available at the company’s Venice store.
