Clearwater has advised Italian Fashion Team, a leading company specialising in the design, production and sale of footwear, on its sale to Golden Goose, a portfolio company of Permira and a “next-gen” luxury brand widely recognised for its iconic sneakers.
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, established in 2000 and a portfolio company of Permira, in just a few years has become one of the most successful independent Italian brands of the last decade. Relying solely on Italian artisanal manufacturing, 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.
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.
To ensure the smooth integration of IFT and manage this new phase of development, as well as to continue the company’s strong links with the local community in Casarano, Michele Zonno, who has over 25 years of experience as executive in the footwear industry, will continue to lead IFT.
