Private equity firm Permira is negotiating the sale of Italian luxury sneaker brand Golden Goose to China’s HongShan Capital Group at a valuation exceeding 2.5 billion euros ($2.7 billion). The Venice-based brand, known for distressed-style sneakers retailing over 500 euros ($535) per pair, reported 2024 revenues of 655 million euros ($701 million) with adjusted EBITDA of 227 million euros ($243 million). Permira acquired Golden Goose in 2020 for 1.3 billion euros ($1.4 billion). Earlier this year, Blue Pool Capital acquired a 12% stake. HongShan, formerly Sequoia Capital China, focuses on global technology, healthcare, and consumer investments.