Golden Goose is a Milan company that sells distressed-look sneakers at luxury prices and says they are handcrafted in Italy. In India it has a company of its own, listed in its parent’s accounts, and three stores on its own locator.
The documents read do not name the company that runs the Indian stores. The Golden Goose shelf on Myntra, read on 21 September 2026, held clothing sold by a third-party seller, with no sneakers among the 100 listings read.
Golden Goose has been majority-owned by HSG since 24 June 2026, with Temasek, True Light Capital, Permira funds and Carlyle holding minority stakes; no party has published the stakes or the price. Its group accounts list a wholly owned Indian subsidiary, GGDB Trading Private Limited, and its locator shows stores in New Delhi, Mumbai and Bengaluru. Its Indian web terms name the Italian company as seller. Myntra’s Golden Goose listing is apparel sold by Darveys Global Store, so its prices say nothing about the sneakers.
Snapshot
- Parent company
- Golden Goose Group S.p.A., Milan; not listed on any exchange
- Majority owner
- HSG, completed 24 June 2026; minority holders Temasek, True Light Capital, Permira funds and Carlyle; stakes not published
- Group revenue
- EUR 734 million for 2025, up 15% at constant currency; EUR 380.4 million for the half year to 30 June 2026
- Indian company
- GGDB Trading Private Limited, New Delhi, 100% held by Golden Goose S.p.A. per the 2025 annual financial report
- Indian stores on the brand’s locator
- Three, read 21 September 2026: The Chanakya, New Delhi; Phoenix Palladium, Mumbai; Phoenix Mall of Asia, Bengaluru
- Seller named in the India web terms
- Golden Goose S.p.A., Milan, under Italian law
- Who sells it on Myntra
- Darveys Global Store Pvt Ltd on 40 of 40 records read on 21 September 2026, all apparel
- Price band in India
- No tier set: no rupee price for a Golden Goose sneaker is quoted on this page, and the Myntra listing read held clothing only
Who owns Golden Goose
The brand has passed between investment owners for most of the last decade. Permira’s release of 12 February 2020 says Carlyle acquired Golden Goose in March 2017; no 2017 document was found, so that month rests on the 2020 release. In that release, a company backed by Permira funds agreed to buy Carlyle’s majority stake, and the deal completed on 16 June 2020, with Carlyle keeping a minority holding. No price was disclosed.
A listing on Euronext Milan was then planned and called off. On 18 June 2024, three days before trading was due to start, the company postponed the offer, citing “the significant deterioration in market conditions” after the European Parliament elections and France’s call for a general election, as Euronews quoted it. Euronews reported a target valuation of about EUR 1.86 billion.
The change that did came eighteen months later. On 19 December 2025, Permira and Golden Goose announced that HSG would take a majority stake, with Temasek as a minority investor and Permira staying on as a “strategic minority shareholder”. Permira’s release of 24 June 2026 says “all conditions for the completion of the transaction have been fulfilled, including the receipt of required regulatory approvals”.
- CarlyleAcquired March 2017, as Permira’s 2020 release states
- A company backed by Permira fundsBought Carlyle’s majority stake; completed 16 June 2020
- HSGMajority stake agreed 19 December 2025; completed 24 June 2026
Each step is a change of majority owner; the postponed 2024 listing is left out because it was not one.
HSG’s own page says Temasek and True Light Capital joined as minority investors, and that Permira-advised funds and other shareholders, “including Carlyle”, partly realised their investment and kept a minority position. Marco Bizzarri became non-executive chairman and Silvio Campara stayed on as chief executive. None of the parties has published a percentage or a price, so this page prints neither.
What the company reports
Golden Goose publishes results for its bondholders. For 2025 it reported revenue of EUR 734 million, “up 15%” at constant currency; the annual financial report gives EUR 733.9 million and reported growth of 12.1%, from EUR 654.6 million in 2024. Adjusted EBITDA, the operating profit measure the company uses, was EUR 248.3 million, a margin of 34%.
Net profit moved the other way, from EUR 52.7 million in 2024 to EUR 40.5 million in 2025, both from the annual reports. The latest release, of 14 September 2026, covers the half year to 30 June: revenue of EUR 380.4 million, up 15% at constant currency, and adjusted EBITDA of EUR 122.9 million, a 32.3% margin.
The group sells mostly through its own channels. Direct sales were 81% of revenue in 2025, against 77% in 2024, and it ran 232 of its own stores at the end of 2025 and 230 at the end of June 2026. Its regional figures show EMEA up 18%, Asia-Pacific up 17% and the Americas up 9% for 2025. India is not reported separately.
Who sells Golden Goose in India
The group’s 2025 annual financial report, published on 22 April 2026, carries a full consolidation table. One line reads “GGDB Trading Private Limited New Delhi INR 1,773,330 Golden Goose S.p.A. 100 100”: a New Delhi company, wholly held by the Italian operating company. It is the only Indian entity in the table, and it also appears in the 2024 report, with share capital of INR 884,000.
Register mirrors carry the company under CIN U47733DL2024FTC425200, incorporated on 12 January 2024. The letters FTC mark a subsidiary of a foreign company, and the activity code 47733 is a retail-trade code. That fits a shop-running company rather than a buying office.
| Field | What the sources carry |
|---|---|
| CIN | U47733DL2024FTC425200, Delhi (InstaFinancials and IndiaFilings mirrors) |
| Incorporated | 12 January 2024 |
| Registered office | C-15, Commercial Complex, Safdarjung Development Area, New Delhi 110016 |
| Paid-up capital | ₹17,33,330 on both mirrors; INR 1,773,330 in the 2025 annual financial report |
| Authorised capital | ₹16 crore on InstaFinancials; ₹39,30,000 on IndiaFilings |
| Held by | Golden Goose S.p.A., 100% (2024 and 2025 annual financial reports) |
| Latest balance sheet on the mirror | 31 March 2024, the first part-year; no revenue figure shown |
The capital figures differ by source. The group’s accounts give INR 1,773,330 at 31 December 2025, and both mirrors give ₹17,33,330, which is INR 1,733,330 — a difference of INR 40,000. The two mirrors also give different authorised capital. This page prints the figures side by side and does not choose between them.
The Indian stores
The brand’s Indian store locator, read on 21 September 2026, lists three shops: Units 104–105 at The Chanakya in Chanakyapuri, New Delhi; Phoenix Palladium on SB Marg, Mumbai; and Phoenix Mall of Asia in Yelahanka, Bengaluru. The New Delhi flagship was reported open on 18 November 2024, and the group’s 2024 release lists New Delhi among that year’s openings. Its 2025 release lists Mumbai.
- January 2024GGDB Trading Private Limited incorporated in Delhi
- November 2024New Delhi flagship at The Chanakya reported open
- 2025Mumbai listed among the year’s new locations
- September 2026Three Indian stores on the brand’s locator
No document read names the company that runs the stores.
Silvio Campara told Business Today on 6 February 2026 that he had “invested in three stores” in Delhi, Bengaluru and Mumbai, and that “India has one of the youngest luxury markets on the planet.” Neither the locator nor the releases nor the launch coverage says which company runs those shops. The launch reports name only a collaboration with the jewellery label Bhavya Ramesh on a capsule collection, which is not a retail partner.
No Indian partner filing, licence or joint venture naming the brand was found. The documents read do not say whether GGDB Trading runs the stores.
No document read for this page says which company runs the three Indian stores. Before a large purchase, ask for a tax invoice and read the seller’s name and GST number on it.
The India web store sells from Milan
goldengoose.com has an India storefront, “You’re on our India site (₹)”, with rupee prices, DHL delivery in “8-11 working days” and free returns. Its terms of sale, read on 21 September 2026, name the seller as Golden Goose S.p.A., registered at Via Privata Ercole Marelli 10, Milan, and apply Italian law. Customer care gives an Italian telephone number.
The same terms say prices “are expressed in Euros and will be deemed to include VAT”, and describe cash on delivery “in Italian territory”. The storefront shows rupees. The shipping page read states no customs or GST position, so ask before ordering whether the price shown is the price you pay at the door.
What Golden Goose costs in India
On Myntra, the brand listing read “Golden Goose” and held 163 products on 21 September 2026. A sounding of 100 distinct listings found no footwear at all: 27 T-shirts, 15 sweatshirts, 13 pairs of jeans and 10 sweaters led the count. All 40 product records read named the same seller of record, Darveys Global Store Pvt Ltd, and 39 declared Italy as country of origin, one China.
On those 100 apparel listings the median MRP was ₹49,450 and the median price paid ₹42,040 — 85.0% of MRP, with 85 of the 100 reduced across 63 distinct MRPs. Those are clothing prices, and they tell a buyer nothing about what a pair of Golden Goose sneakers costs in India.
The brand is known for a sneaker, and the Golden Goose shelf on Myntra did not carry one in a hundred listings.
The manufacturer line on all 40 records read “Via Privata Ercole Marelli, 10, Milan, 20139, Italy” — an address with no company name printed. It is the same address the India web terms give for Golden Goose S.p.A. The seller of record on those listings was Darveys Global Store.
What the same sneakers cost in Italy and America
The brand’s own pages, read on 21 September 2026, give list prices for three men’s styles in two markets. The US prices exclude sales tax; the brand’s terms say its euro prices include VAT. No rupee price for these style codes was taken, and no exchange rate is fixed here, so no India gap appears on this page.
| Style, as named | Style code | USA, before sales tax | Italy, VAT included | Upper, as listed |
|---|---|---|---|---|
| Men’s Ball Star in white leather | GMF00117.F000325.10275 | US$595 | EUR 485 | 56% goatskin, 34% cow leather, 8% polyester, 2% nylon |
| Men’s Super-Star in silver leather | GMF00101.F000312.60246 | US$580 | EUR 460 | — |
| Men’s Super-Star in leather with black star | GMF00101.F000313.10271 | US$580 | EUR 460 | 80% polyester, 20% cow leather |
goldengoose.com US and Italy product pages, read 21 September 2026. All three pages say “Made in Italy”.
Composition varies by style. The Ball Star lists 56% goatskin and 34% cow leather, while the Super-Star with black star lists 80% polyester and 20% cow leather on both its American and Italian pages. Check the composition line for the style code before buying.
Where Golden Goose is made
Product pages carry the line “Vintage finish. Handcrafted. Made in Italy.” The 2025 annual financial report describes two production routes: products “it manufactures in house”, and products “manufactured by third parties under the sub-contracting model (for which the Group acquires and supplies raw materials)”. It publishes neither the number of subcontractors nor the split between the two.
The same report prints a graphic headed “Production sites” that runs Milan, Marghera, Gricignano di Aversa and Casarano together with New York, Shanghai and Seoul. It does not say which are factories and which are offices, so only the Italian names are repeated here, with that caution. The brand’s HAUS at Marghera, near Venice, opened in April 2024; the brand says prototypes for new footwear are made there and that “the entire production process can be observed”.
What the claims stand on
“Handcrafted” and “Made in Italy” come with no production split, no named standard and no certifier on the pages read. The distressed “vintage finish” is a design choice, not a performance claim. Leather composition is given style by style, but no tanning method and no leather certification appears on those pages, and no waterproof claim was made on the models read.
Buying a genuine pair in India
Golden Goose publishes no way to check a specific pair. Its FAQ pages and the Golden Goose Passport site, which the brand describes as a platform “inspired by travel and discovery”, offer no code lookup, hologram or certificate check. Moncler, by contrast, publishes an official code-check page, which shows what such a tool looks like when a brand offers one.
The worn look complicates things. A scuffed, taped Golden Goose is the product, so wear on the upper proves nothing either way. A lookalike that copies the style without the name is a legal design choice; a pair carrying the Golden Goose name that the brand did not make is a counterfeit.
Buy from the brand’s own channels
The locator lists three Indian stores, and the India site sells from Milan. The brand publishes no list of authorised Indian resellers.
Match the label to the product page
The brand lists the upper’s composition for each style code. If the shoe’s label does not match the page for its code, ask why before paying.
Read the seller on any marketplace listing
On Myntra on 21 September 2026 the seller of record on 40 of 40 records was Darveys Global Store, for clothing. A sneaker listing from any other seller is outside what was read that day.
On the legal record, a search of Indian judgments for “golden goose” gave 26 results on 21 September 2026, and every one used the phrase as an idiom; none involved the Italian company. That is a record of what the search returned, not proof that no case exists.
Outside India, two domain-name disputes were decided in the company’s favour by WIPO’s arbitration centre, a body that rules on domain names, not a court. In December 2015 goldengoosescarpe.com was ordered transferred to Golden Goose, and in September 2017 ggdbscarpe.com was too. Neither respondent replied. Each ruling was on that one domain as the matter then stood, and nobody has ruled on anything beyond it.
Who Golden Goose is actually for
The buyer who wants an Italian-made sneaker, bought from a shop the brand lists as its own, can do exactly that in three Indian cities or through the India site. For comparison with sneaker makers whose Indian routes are more familiar, see our Nike audit, adidas audit and New Balance audit, which cover ownership and Indian sellers in the same way.
Anyone searching Myntra for Golden Goose sneakers should know what the listing held on 21 September 2026: clothing, sold by Darveys Global Store. Anyone paying US$580 or EUR 460 for a Super-Star should check the composition line for the style code, since the uppers listed range from mostly leather to mostly polyester.
Common questions
Is Golden Goose an Italian brand?
Yes. Its parent is Golden Goose Group S.p.A. of Milan, its product pages say “Made in Italy”, and it runs a production and training site at Marghera, near Venice. Its majority owner since 24 June 2026 is HSG.
Who owns Golden Goose now?
HSG holds a majority stake, completed on 24 June 2026. Temasek, True Light Capital, Permira funds and Carlyle hold minority stakes. None of the parties has published the percentages or the price.
Does Golden Goose have an Indian company?
Yes. GGDB Trading Private Limited, New Delhi, appears in the group’s 2025 annual financial report as 100% held by Golden Goose S.p.A. No document read says whether it runs the three Indian stores.
Are Golden Goose sneakers on Myntra?
Not in the 100 listings read on 21 September 2026. The Golden Goose listing held 163 products, led by T-shirts, sweatshirts, jeans and sweaters, sold by Darveys Global Store Pvt Ltd on all 40 records read.
Can I verify a Golden Goose pair with the brand?
No brand-published code lookup, hologram check or certificate page was found. Buy from the three stores on the brand’s locator or its India site, and match the shoe’s label to the product page for its style code.
References
- Golden Goose Group, 2025 Annual Financial Report, published 22 April 2026 — GGDB Trading Private Limited at 100% and INR 1,773,330; 2025 revenue of EUR 733.9 million, reported growth of 12.1% and net profit of EUR 40.5 million; the in-house and sub-contracting production wording; the “Production sites” graphic
- Golden Goose Group, 2024 Annual Financial Report — GGDB Trading at INR 884,000 and 100%; 2024 net profit of EUR 52.7 million
- FY2024 results release, 12 March 2025 — 2024 revenue of EUR 654.6 million, New Delhi among 2024 openings, the HAUS Academy
- FY2025 results release, 2 March 2026 — revenue of EUR 734 million up 15% at constant currency, adjusted EBITDA of EUR 248.3 million and 34%, direct sales at 81% and 77%, 232 own stores, regional growth, Mumbai among 2025 locations
- 1H 2026 results release, 14 September 2026 — revenue of EUR 380.4 million up 15% at constant currency, adjusted EBITDA of EUR 122.9 million and 32.3%, 230 own stores, HSG as majority shareholder in the second quarter
- Golden Goose investor reports page, read 21 September 2026 — results published for investors; the 1H 2026 release as the latest document
- Permira, 12 February 2020 — Carlyle’s acquisition in March 2017 and the agreement to buy Carlyle’s majority stake, terms not disclosed
- Permira, 16 June 2020 — completion of the acquisition, and Carlyle’s retained minority stake
- Carlyle, 16 June 2020 — Carlyle’s copy of the completion release
- Euronews, 19 June 2024 — the postponed Milan listing, the company statement as quoted, and the reported target valuation
- Permira, 19 December 2025 — HSG’s agreed majority stake, Temasek as minority investor, Permira as strategic minority shareholder
- Golden Goose, 19 December 2025 — the company’s announcement of the same agreement
- Permira, 24 June 2026 — completion, the regulatory-approvals wording, minority holders, Marco Bizzarri as non-executive chairman and Silvio Campara as chief executive
- HSG, investment announcement — Temasek and True Light Capital as minority investors, and Permira-advised funds and Carlyle keeping minority positions
- Register mirror, InstaFinancials, GGDB Trading Private Limited — CIN, incorporation date, registered office, paid-up capital, ₹16 crore authorised capital, retail-trade activity
- Register mirror, IndiaFilings, GGDB Trading Private Limited — CIN, paid-up capital, ₹39,30,000 authorised capital, the 31 March 2024 balance-sheet date
- Golden Goose India store locator, read 21 September 2026 — the three Indian stores and their addresses
- Golden Goose India terms of sale, read 21 September 2026 — Golden Goose S.p.A. as seller, the Milan address, Italian law, the euro and VAT wording, cash on delivery in Italian territory
- Golden Goose India shipping page, read 21 September 2026 — DHL delivery in 8-11 working days; with the customer care page, free returns and the Italian telephone number
- FashionNetwork India, 18 November 2024 — the New Delhi flagship at The Chanakya and the Bhavya Ramesh collaboration
- Business Today, 6 February 2026 — Silvio Campara on three Indian stores and India’s luxury market
- Golden Goose, HAUS Marghera — the April 2024 opening, prototypes and the visible production process
- Ball Star, US page and Italy page, read 21 September 2026 — US$595 and EUR 485, the upper composition, “Vintage finish. Handcrafted. Made in Italy.”
- Super-Star in silver leather, US page and Italy page, read 21 September 2026 — US$580 and EUR 460
- Super-Star in leather with black star, US page and Italy page, read 21 September 2026 — US$580 and EUR 460, upper of 80% polyester and 20% cow leather
- Golden Goose FAQ and Golden Goose Passport — no pair-verification tool; the Passport description
- Moncler code check — an example of a brand-published authenticity check
- Indian Kanoon, search for “golden goose”, 21 September 2026 — 26 results, none involving the brand
- WIPO case D2015-2016, decided 18 December 2015 — goldengoosescarpe.com transferred; no response from the respondent
- WIPO case D2017-1404, decided 13 September 2017 — ggdbscarpe.com transferred; no response from the respondent
- Myntra, Golden Goose brand listing, read 21 September 2026 — 163 products, the 100-listing sounding and its categories, and 40 records for seller, origin and manufacturer line
Golden Goose’s paperwork on India is fuller than its Myntra shelf suggests. The owner’s own accounts name a wholly owned Indian company, the brand’s locator lists three shops, and its India site names the Italian company as seller. For a buyer who wants an Italian-made sneaker from the brand itself, those are real routes.
The gaps are practical ones for a buyer. The documents read do not say which company runs the stores, the India terms read on 21 September 2026 refer to euros and VAT, the brand publishes no way to check a pair, and the Golden Goose shelf on Myntra that day was 100 listings of clothing at a median of ₹42,040 from a third-party seller. At US$580 a Super-Star is a premium sneaker whose upper varies by style, so the composition line is worth reading.
Buy Golden Goose in India from its three stores or its own site, read the composition line before the star, and treat the Myntra listing as a clothing rail, not a sneaker shop.
