Golden Goose looks to shine with $2bn stock market IPO

Golden Goose, a luxury shoe company that sells trainers for several hundred dollars a pair, is reportedly aiming for a valuation of $2 billion in a planned stock market IPO.

The company, favored by celebrities including Taylor Swift, is slated to list on the Euronext Milan stock exchange on June 21.

It would be Italy’s largest since digital gaming firm Lottomatica, which floated with a  $3 billion listing in 2023.

Golden Goose's IPO pricing range has been set between €9.50 and €10.50, which implies a market capitalization of €1.69 billion to €1.86 billion.

Through the IPO, Golden Goose would seek to raise up to €558 million, selling a 30% stake.

Last year, Golden Goose generated €587 million in revenue, reflecting an 18% year-on-year increase, and achieved an EBITDA of €200 million.

The Venice-based company is owned by British private equity firm Permira, which acquired it for €1.28 billion in 2020.

Prior to that another private equity firm, Carlyle, had bought Golden Goose for €400 million in 2017.

Permira's head of Italy, Francesco Pascalizi, described Golden Goose as a "category-shaping luxury company built to resonate with the new generation of luxury consumers."

Chief executive Silvio Campara added that the IPO would bring the company’s shoes to an "even broader audience."

The IPO will see the sale of both new and existing equity, and it is being cornerstoned by Invesco which is taking €100 million of stock.