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Italian luxury sports brand Golden Goose has announced plans to list in Milan in the latest test for Europe’s recovering market for initial public offerings.
The Italian clothing and sportswear company, which is popular among celebrities such as Taylor Swift and Selena Gomez and is owned by British private equity group Permira, will issue €100mn worth of shares in June with the aim of strengthening its capital structure and reducing debt.
Known for its Superstar range of “distressed” trainers that cost about €500, the company reported revenues of €587mn for the year to December 2023, with an operating margin of 25.4 per cent. The group said it hoped to generate revenues of €1bn by 2029.
Silvio Campara, chief executive, said the listing was a “natural next step” for the group, which was founded in 2000.
“We have created a luxury brand that today enjoys a loyal community of 1.5mn people in over 80 countries . . . Now, together, we can open a new chapter in our story to an even broader audience,” he said.
Permira announced its intention to float Golden Goose late last year, with an expected valuation of about €3bn. The firm bought the brand in 2020 for about €1.3bn from rival Carlyle.
Permira’s head of Italy, Francesco Pascalizi, credited Golden Goose’s “visionary leadership” for its strong growth in recent years.
“Golden Goose is a category-shaping luxury company built to resonate with the new generation of luxury consumers,” he said. “Since our initial investment in 2020, the company has consistently delivered, building on its record of strong, resilient and profitable growth.”
