红杉中国，拿下“小脏鞋”！

Group 1 - Investors remain interested in European brands despite a slowdown in the global luxury fashion industry, with ongoing large-scale mergers and acquisitions in the consumer sector [1] - Sequoia China has announced the acquisition of a controlling stake in the global fashion brand Golden Goose Group, with Temasek and its wholly-owned asset management company participating as minority shareholders [1] - Golden Goose has seen its revenue grow from €266 million in 2020 to €655 million in the fiscal year 2024, demonstrating strong and steady growth [2] Group 2 - Golden Goose has a history of close ties with the venture capital community, with several private equity firms having managed it over the years; the original shareholders will retain a minority stake post-transaction [4] - CEO Silvio Campara will continue to lead the company alongside the existing management team, while Marco Bizzarri, with extensive experience in luxury brands, will serve as non-executive chairman [4] - The Chinese market is crucial for the internationalization of consumer brands, with Golden Goose having opened its flagship store in Beijing in 2016, selling out its initial limited edition sneakers [5] Group 3 - The global consumer sector is experiencing a resurgence in mergers and acquisitions, with notable transactions including Sequoia China's acquisition of Marshall Group for €1.1 billion [5] - Temasek has doubled its stake in Italian fashion brand Ermenegildo Zegna, and other significant acquisitions include the purchase of Japanese jewelry brand Tasaki and high-end department store SKP [5] - The consumer sector is viewed as a good investment opportunity due to relatively low asset prices and strong cash flows, with many industry experts believing it has resilient, anti-cyclical characteristics [6]