Blue Pool acquires 12% stake in Golden Goose

This comes after Golden Goose suspended its plans for a stock market listing last year.

Blue Pool, the Hong Kong-based investment firm backed by Alibaba co-founder Joe Tsai, has purchased a 12% stake in luxury sneaker brand Golden Goose, Reuters reported.

The move comes after Golden Goose suspended its plans for a stock market listing last year.

The company said Blue Pool’s expertise in the sports, entertainment, and consumer sectors, along with its knowledge of the Asia Pacific market, will support Golden Goose’s expansion.

No financial details were disclosed.

Blue Pool, which manages the wealth of Tsai, also the chairman of Chinese e-commerce giant Alibaba, will see its CEO, Oliver Weisberg, join the Golden Goose board, the report said.

Despite this new investment, private equity firm Permira will retain a majority stake in Golden Goose.