Golden Goose is preparing its listing on the Milan Stock Exchange, aiming to raise 100 million euros to strengthen its financial structure. With a loyal international base and dazzling growth, the high-end Italian sneaker brand aims to join the ranks of luxury companies listed on the stock exchange.
The famous Italian luxury sneaker brand, Golden Goose, officially announced on Thursday May 30 its intention to go public on the Milan stock exchange in June. The aim? To raise 100 million euros through new share issues, with the aim of “strengthening the group’s capital structure and reducing its debt”, the company said in a statement.
“The initial public offering (IPO) is the natural consequence of a success story that began in Venice in 2000, and I’m very proud to lead the Golden Goose family to this moment,” said CEO Silvio Campara. “An American or Asian investor who wants to invest in luxury goes to Paris or Milan, and that’s why we chose Piazza Affari.”
Golden Goose plans to sell at least 25% of its shares in this transaction, marking a new stage in its journey since its foundation in Venice in 2000.
British investment fund Permira, which acquired a majority stake in 2020, also plans to sell part of its stake in the company.
“It’s not just the financial aspect that needs to be emphasized, but above all the entrepreneurial aspect. Golden Goose is the success story of the evolution of a family business into a managerial enterprise”, says Silvio Campara.
The Italian brand is preparing to reach this milestone in June.
Dazzling growth
Last December, the Venetian manufacturer of worn-out luxury sneakers enlisted the help of seven banks to prepare its listing on the Milan Stock Exchange. They estimated the company’s value at between 3 and 4 billion euros.
Golden Goose has won over a demanding international clientele. With a loyal base of 1.5 million “Dreamers”, including renowned personalities such as Taylor Swift and Michelle Obama, the brand has established itself in over 80 countries worldwide.
This expansion is also illustrated by the doubling in the number of its boutiques since 2019, from 97 to 195.
In terms of sales, the brand is showing impressive growth, with an increase of 18% at constant exchange rates in 2023, reaching 587 million euros . Golden Goose is now targeting revenues of one billion euros by 2029.
Models of success
This decision to go public comes at a propitious economic time, marked by a dynamic recovery in European financial markets. Indeed, between 2022 and 2023, the number of IPOs fell sharply, while central banks raised interest rates to counter inflation, discouraging investors from engaging in operations deemed risky.
However, the market is now in a recovery phase, with year-to-date fundraising of $12.4 billion (€11.46 billion) via new capital market entries this year, more than double that of the same period last year. In 2024, the number of offerings exceeding $100 million (€92.44 million) rose by around 19%.
The company aims to join other luxury sector players who have recently gone public, such as the Spanish Puig Group, with its Nina Ricci, Paco Rabanne and Jean Paul Gaultier brands.
Let’s not forget that in October, Birkenstock, the German brand renowned for its high-end, thick-soled sandals, failed in its IPO on the New York Stock Exchange. The stock closed below its IPO price, marking a setback for the company.
Golden Goose’s IPO represents one of the largest deals in Europe this year. According to Bloomberg News projections, the footwear brand’s value should be equivalent to around eleven times its estimated annual profits.
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Featured photo : © Golden Goose
