Golden Goose acquires largest supplier Italian Fashion Team
The Italian fashion team was advised by Clearwater International on its sale to Golden Goose, a Permira portfolio company.
Founded by Michele Zonno in 2007 to provide consulting services and transformed into a manufacturing company in 2016, Italian Fashion Team (IFT), headquartered in Casarano (Italy), specializes in the design, production and marketing of high-end shoes for some of the most well-known luxury brands. IFT aims to preserve the artisanal heritage of the Salento footwear district, overseeing all the essential phases of the production chain to guarantee the highest quality standards. Its team of more than 250 employees will produce more than 850,000 pairs of sneakers in 2022.
Golden Goose relies solely on Italian craftsmanship and has managed to make innovation and quality part of its recognizable traits. Golden Goose has an evenly distributed global footprint spanning Asia, Europe, the Middle East and Americas, with over 160 direct retail stores and a strong online and wholesale distribution network.
Clearwater International said that as IFT is Golden Goose’s premier supplier, the acquisition is a strategic step in the name of responsible growth toward vertical supply chain integration.
Michele Zonno, Founder and CEO of Italian Fashion Team, said: “Clearwater International has supported us for several years in major decisions that have impacted our growth and performance. With their guidance and assistance, we have reached this important milestone and are delighted to join the Golden family at such an exciting time of growth. IFT and Golden Goose have worked together for seven years and this is a natural evolution of our strong and enduring relationship. Commitment to Italian excellence and local talent is essential for us, and I am delighted to partner with a company that values this just as much as we do.
Silvio Campara, CEO of Golden Goose, added: “Golden craftsmanship lies in the warmth of a handcrafted object. Each of our products tells a unique story – a story of Italian craftsmanship and excellence that begins with our processes and our people. As we continue our journey of growth, we want partners who share our values of care, authenticity and quality to join us.