Permira-Backed Golden Goose Steps into the Spotlight with Potential €4bn IPO

The luxury Italian shoemaker Golden Goose is preparing for a potential initial public offering (IPO) on the Milan stock market, with banks proposing valuations ranging from €3bn to €4bn. In a show of support and brand alignment, over twenty investment bankers donned the company’s $600 sneakers during their pitches last week.

The move towards an IPO comes after Permira, the private equity firm that acquired Golden Goose in 2020, considered a sale earlier in June 2023 but later decided to pursue a public listing instead. This strategic shift aligns with Golden Goose’s growth ambitions and reflects confidence in the brand’s value proposition and market position.

The anticipation surrounding Golden Goose’s IPO contrasts with the recent performance of Birkenstock, which entered the US stock market in September 2023. Despite an enthusiastic debut, Birkenstock’s shares have since underperformed, mirroring wider challenges faced by newly listed companies amidst fluctuating market conditions.

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Golden Goose’s potential IPO is attracting significant interest from financial institutions eager to secure roles in the process. Last week’s confidential bakeoff saw bankers competing for a part in the luxury brand’s market entry. Some bankers even made last-minute purchases of Golden Goose sneakers to match their peers and resonate with the celebrity-endorsed image of the brand.

The interest in Golden Goose’s IPO and the valuation expectations set a positive tone for the company as it advances toward its public market debut. The final decision on proceeding with the listing and the selection of financial advisors will be pivotal moments for Golden Goose as it navigates the complex dynamics of today’s IPO landscape.

Source: Investing.com

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