Golden Goose announces £2.6bn stock market listing

The Italian stock exchange is considering a floatation of the “dirty” luxury shoes worn by Taylor Swift. This could be worth more than €3bn.

Golden Goose, a company based in Venice, has announced that it plans to raise €100m by listing at least 25% of its shares on the Euronext Milan market.

Golden Goose distressed shoes are known for their weathered, “shabby-chic” look. They look worn out but can cost up to hundreds of pounds. Super-Star trainers are available online for £445 while those with Swarovski Crystals can cost up to £1,000.

Golden Goose has been mocked on social media by users and commentators for their “dirty” appearance. The shoes’ unique appearance has drawn a number of celebrities including Taylor Swift Selena Gomez Chris Hemsworth.

The company’s website states that it likes things “that are distressed, lived-in and touched with life.”

Alessandro Gallo, a husband and wife team, founded the shoe brand in 2000. Golden Goose is owned by Permira. The private equity firm bought the brand in 2020 for €1.3bn.

The plans to list the shoemaker are despite the global downturn in the luxury goods industry, after years of rapid growth and high demand during the pandemic.

Luxury bosses complain that wealthy consumers have reduced spending due to higher interest rates. Meanwhile, an economic slowdown has impacted the demand for expensive goods on a key market in China.

Golden Goose’s net revenue was €587m last year (£500m), an 18% increase in sales. In March, when announcing the results, Silvio Campara, chief executive, said that consumers are looking for more than just luxury products. They want to be a part of an organization that reflects their own values.

Mr Campara, a spokesperson for Bloomberg, said that the proceeds of the IPO would be used to reduce debt and expand the company into new markets, including South America, Africa and the Middle East.

He said the company will also be looking to sell more personalized shoes.

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