Golden Goose Acquires Biggest Supplier Italian Fashion Team
Italian fashion Team was advised by Clearwater International on its sale to Golden Goose which is a portfolio company of Permira.
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), specialises in the design, production and marketing of high-end footwear for some of Italy’s most well-known luxury brands. IFT aims to preserve the artisan heritage of the Salento footwear district, overseeing all the core phases of the production chain to ensure the highest quality standards. Its team of more than 250 employees will produce over 850,000 pairs of sneakers in 2022.
Golden Goose relies solely on Italian artisanal manufacturing, and it has managed to make innovation and quality part of its recognisable traits. Golden Goose has an evenly distributed global footprint covering Asia, Europe, Middle East and America, with over 160 direct retail stores and strong online and wholesale distribution network.
Clearwater International said that as IFT is Golden Goose’s top supplier, the acquisition is a strategic step in the name of responsible growth towards the vertical integration of the supply chain.
Michele Zonno, Founder and CEO of Italian Fashion Team, said: “Clearwater International has been supporting us for several years in major decisions that impacted on our growth and performance. With their advice and assistance, we have achieved this important milestone and we are thrilled to be joining the Golden family at such an exciting time of growth. IFT and Golden Goose have been working together for the last seven years and this is a natural evolution for our strong, long-lasting relationship. Commitment to Italian excellence and local talent is key for us, and I’m excited to partner with a company that values this just as much as we do.”
Silvio Campara, CEO of Golden Goose, added: “Golden artisanal tradition lies in the warmth of a hand-crafted item. Every one of our products tells a unique story – a story of craftsmanship and Italian excellence that starts with our processes and people. As we continue our journey of growth, we want partners who share our values of care, authenticity and quality to join us.”
Source: JUST STYLE
https://www.just-style.com/news/golden-goose-acquires-biggest-supplier-italian-fashion-team/