Golden Goose brand

Golden Goose Set to Launch Milan IPO Amid European Listing Surge

Luxury Sneaker Brand Plans Initial Public Offering As Market Shows Strong Rebound

Luxury sneaker brand Golden Goose SpA is preparing to initiate an initial public offering (IPO) in Milan, potentially as early as this week. This move follows positive feedback from prospective investors and extends a strong rebound in European listings this year.

Golden Goose may announce its intention to float soon, with investors valuing the company at about 11 times this year’s estimated earnings, which would place the company’s worth at around €3 billion ($3.3 billion), including net debt.

Golden Goose collaborates with Cory Juneau for Limited Edition Ball Star Pro Sneaker

Deliberations are ongoing, and details such as the timeline and size of the offering could still change, the sources said. Representatives for Golden Goose and its owner, private equity firm Permira, declined to comment.

Golden Goose is being compared to puffy jacket maker Moncler SpA in its market pitch. The sneaker maker would join other companies like CVC Capital Partners Plc and Spanish beauty group Puig Brands SA in advancing their listing plans in Europe, buoyed by the stock market’s rally to record highs. Companies in the region have raised $12.4 billion through IPOs this year, more than double the amount during the same period last year.

However, Golden Goose is testing the market amid a slowdown in the luxury sector. Kering SA recently reported an 18% sales drop at its Gucci brand in the first quarter due to slack demand in China. Larger rival LVMH reported a 2% organic sales growth in fashion and leather goods for the first quarter, a decline from 18% growth a year earlier.

Golden Goose shoes, handcrafted in Italy with distinctive weather-beaten designs and a large star logo, are popular among celebrities like Selena Gomez and Taylor Swift. A pair of Ball Star Wishes sneakers for men is priced at $740 on the company’s website.

Permira acquired Golden Goose for €1.3 billion in 2020. At IPO pitch meetings late last year, bankers reportedly wore the brand’s sneakers with sharp suits to impress prospective clients and compete for roles on the deal..