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Alibaba-backed fund acquires 12% stake in Golden Goose

Blue Pool Capital, backed by Alibaba co-founder Joseph Tsai, has acquired about 12% of Italian luxury sneaker brand Golden Goose, valuing it at nearly 3 billion euros ($3.1 billion). This marks a new chapter for the brand after shelving its Milan IPO last year due to market concerns, including a steep 20x earnings valuation. Analysts see Blue Pool as a strategic partner, offering both capital and access to Alibaba’s e-commerce expertise, which dominates China's online retail market.

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