Golden Goose buys luxury sneakers producer Italian Fashion Team
Italian fashion industry players are continuing their efforts to operate an increasingly integrated supply chain. The latest is Venetian luxury sneakers specialist Golden Goose, which announced it has acquired its main supplier, the Italian Fashion Team company, led by CEO Michele Zonno and his family.
“Golden [Goose]'s artisanal heritage is reflected in the quality of hand-made objects. Each of our products tells a unique story of craftsmanship and excellence, featuring extraordinary people and sustainable manufacturing methods. As we continue this wonderful journey, we want partners who share our values of authenticity and quality,” said Silvio Campara, CEO of Golden Goose.
IFT was founded in 2007 and is based in Casarano, in the province of Lecce, Italy. It has a workforce of over 250 people and it specialises in designing, producing and commercialising high-end sneakers for some of the most renowned luxury labels in Italy, handling all the key stages of the supply and manufacturing chain. In 2021, IFT produced more than 700,000 pairs of sneakers and, according to official figures, it generated sales in excess of €36 million.
IFT and Golden Goose have now forged much closer ties after collaborating for seven years. The acquisition, pending the antitrust authorities’ approval, is expected to be finalised in the last quarter of 2022. Michele Zonno will continue to head IFT, managing this new phase in the company's development.
Golden Goose was founded in 2000, and is owned by the Permira investment fund. In 2021, it reported an annual revenue of €386 million. It is currently present in Asia, Europe, the Middle East and America, with more than 160 monobrand stores and a robust online and wholesale distribution network.
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