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Golden Goose confirms IPO listing to reduce its debt

Chloe Burney
30 May 2024

After several months of speculation, Permira-backed Golden Goose - renowned for its distressed trainers - has confirmed it will launch an IPO on the Euronext Milan this year.

The footwear company aims to issue 100 million euros worth of primary shares to strengthen the group’s capital structure and reduce its debt.

Chief Executive Officer, Silvio Campara, said:  "While the fashion world is all about product desirability, consumers want to create a deeper connection with brands through shared values and culture.

"At Golden, we have built a brand that people love and are loyal to, and that has delivered strong, profitable growth with a purpose. The brand’s mission is to unleash self-expression through authenticity and uniqueness. We keep true to this through co-creation, where people can be part of the creative process together with our artisans, the Dream Makers. Our community-centred approach, combined with our iconic and high-quality products, is at the heart of how we interact with our diverse, engaged global community."

Permira bought the company, which was founded in Venice by husband-and-wife duo Alessandro Gallo and Francesca Rinaldo 23 years ago, in 2020 from rival Carlyle for approximately £1.1 billion (€1.3 billion).

Francesco Pascalizi, Head of Permira Italy, added: "Golden Goose is a category-shaping luxury company built to resonate with the new generation of luxury consumers.

"Since our initial investment in 2020, the company has consistently delivered, building on its track record of strong, resilient and profitable growth. Its committed and visionary leadership team have taken the business from strength to strength over the last four years, consistently outperforming the market. We are excited to be on this journey with them as they realize their growth strategy and launch a landmark IPO in Milan."

The listing is expected to take place in June, however, this is subject to regulatory approvals.

The IPO follows fellow European footwear brand Birkenstock's listing, which saw the German sandal maker go public in October with a £6.8 billion ($8.6 billion) listing.

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