Golden Goose takes step towards listing in Milan next year - sources
Reuters
Published Oct 03, 2023 11:30AM ET
MILAN (Reuters) - Italian luxury sneaker brand Golden Goose has picked Lazard (NYSE:LAZ) as financial adviser to explore a potential stock market listing in Milan, two sources close to the matter said on Tuesday.
The company, which was acquired by private equity firm Permira in 2020, is aiming for a listing in the first half of 2024, the sources added.
Lazard, Permira and Golden Goose declined to comment.
If it launches, Golden Goose would be the latest footwear brand to seek a public market listing.
German premium footwear maker Birkenstock said on Monday it was seeking a valuation of roughly $10 billion in its U.S. initial public offering (IPO) as it joins a rush of other companies that are going public after two quiet years.
Golden Goose's sneakers, with a five-point star on the side, are priced at over 400 euros ($437) a pair.
Earlier this year Golden Goose's Chief Executive Silvio Campara said the group saw scope for further growth by expanding beyond its core product range as it brought more of its supply chain in house.
Its net revenues rose 21% in the first half to 276 million euros ($289 million), helped by the expansion of direct to consumer sales and covering more regions.
The group's core profit reached 34.6% of the revenues in the first six months, the company added in a statement last month. ($1 = 0.9560 euros)
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Written By: Reuters
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