Golden Goose, the prestigious Italian luxury sneaker brand, has enlisted the expertise of financial advisory firm Lazard to explore the potential of making its debut on the Milan stock market. This move comes after the brand was acquired by private equity firm Permira in 2020. Golden Goose is now eyeing a stock market listing in the first half of 2024, as reported by well-placed sources.
As of now, neither Lazard, Permira, nor Golden Goose has provided official comments on this development.
This development aligns Golden Goose with a recent trend in the footwear industry, as other brands are also venturing into the public market. Just days ago, German premium footwear manufacturer Birkenstock unveiled its intention to pursue an initial public offering (IPO) in the United States with an ambitious valuation target of approximately $10 billion. This marks a significant resurgence of companies going public following a period of relative dormancy.
Golden Goose’s signature sneakers, featuring their iconic five-point star, boast a premium price point exceeding 400 euros ($437) per pair.
Earlier this year, Golden Goose’s CEO, Silvio Campara, articulated the company’s growth strategy, emphasizing expansion beyond its core product range and a strategic shift towards bringing more of its supply chain operations in-house. In the first half of the year, the brand experienced an impressive 21% increase in net revenues, totaling 276 million euros ($289 million). This growth was driven by a deliberate expansion into direct-to-consumer sales channels and broader market coverage.
Furthermore, the company disclosed that its core profit margin for the initial six months of the year stood at an impressive 34.6% of revenues, reinforcing Golden Goose’s position as a brand on the rise in the luxury sneaker market.