Golden Goose, the esteemed luxury fashion group, is gearing up for a game-changing move in Europe’s capital markets, aiming to raise a substantial €1 billion ($1.1 billion) through an eagerly anticipated initial public offering (IPO) in Milan. Sources reveal that Permira, the company’s majority owner, has engaged seven major banks, including Bank of America, JPMorgan, Mediobanca, UBS, BNP Paribas, Citigroup, and UniCredit, to underwrite what is poised to be one of Europe’s most significant IPOs in the coming year.
While both Permira and Golden Goose have refrained from official comments, the strategic IPO comes at a pivotal moment, injecting renewed vigor into Europe’s financial landscape amidst challenges posed by rising interest rates and the ongoing conflict in Ukraine.
Golden Goose, renowned for its distinctive, worn-looking sneakers commanding prices in the hundreds of euros, experienced an impressive 30% surge in revenue last year, reaching approximately €501 million. The IPO is anticipated to be a catalyst for revitalizing Europe’s capital markets, which have faced a slowdown in listing activities.
This strategic move by Golden Goose aligns with recent strategies adopted by other leading fashion companies. Spanish fashion retailer Tendam, backed by CVC and PAI Partners, is actively exploring a potential listing in Madrid. Meanwhile, German sandal maker Birkenstock, after its successful debut on the New York Stock Exchange in October, has witnessed positive market performance.
Golden Goose’s upcoming IPO not only aims to secure substantial capital but also positions itself as a driving force behind the resurgence of Europe’s luxury fashion sector.
