Italian luxury sneakers specialist, Golden Goose, has acquired its main supplier, Italian Fashion Team (IFT), in a strategic move to enhance the integration of the fashion industry’s supply chain. IFT, led by CEO Michele Zonno and his family, specializes in designing, producing, and selling high-end sneakers for renowned luxury labels in Italy. With a workforce of over 250 people, IFT has been a key supplier for Golden Goose for the past seven years.

The acquisition is seen as an opportunity for Golden Goose to further enhance the quality and authenticity of its products. The company, known for its artisanal heritage and dedication to craftsmanship, aims to strengthen its commitment to sustainable manufacturing methods by aligning with IFT’s shared vision. The acquisition is expected to be finalized in the last quarter of 2022, subject to approval from antitrust authorities.

Golden Goose, founded in 2000 and owned by the Permira investment fund, reported an annual revenue of €386 million in 2021. The brand has established a strong presence across Asia, Europe, the Middle East, and America, operating over 160 monobrand stores and maintaining a robust online and wholesale distribution network. By acquiring IFT, Golden Goose aims to streamline its supply chain and ensure the highest standards of quality and craftsmanship.

IFT, founded in 2007 and headquartered in Casarano, Italy, holds an impressive track record, producing over 700,000 pairs of sneakers in 2021 alone. With sales exceeding €36 million, the company has emerged as a leading player in the luxury sneakers market. By handling all the key stages of the supply and manufacturing chain, IFT has become an integral partner for Golden Goose.

Michele Zonno, the CEO of IFT, will continue to lead the company during this new phase of development. The collaboration between Golden Goose and IFT has proven successful over the years, demonstrating the potential for a closer partnership. Through its acquisition of its main supplier, Golden Goose aims to strengthen its position as a top luxury sneakers brand, solidifying its commitment to delivering exceptional craftsmanship and quality.

This acquisition reflects the evolving nature of the fashion industry in Italy, where companies are increasingly seeking greater integration and collaboration within the supply chain. Golden Goose’s move to acquire IFT emphasizes the importance of strong partnerships and shared values in driving the success of luxury brands. As the acquisition awaits approval, both Golden Goose and IFT are poised for continued growth and innovation in the luxury sneakers market.

[Link 1:]( Golden Goose official website – Learn more about the brand and its collection of luxury sneakers.

[Link 2:]( Italian Fashion Team official website – Explore the expertise and services offered by IFT in the luxury sneakers market.