Permira's Golden Goose in talks with banks over potential New York IPO

The company is considering a listing in New York and is in touch with a series of banks including Credit Suisse, Goldman Sachs, Bank of America, Barclays and IMI, three of the sources said.

These banks all worked on a EUR 480m senior secured bond to repay an acquisition related bridge facility last year, the sources said.

A Golden Goose spokesperson said, “This is inaccurate speculation. We are not currently actively exploring options with any banks and have no timetable.”

Credit Suisse, Goldman Sachs, Barclays did not return requests for a comment. Bank of America, IMI and Permira declined to comment.

The crisis in Ukraine means an imminent IPO is unlikely, one of the sources said, noting that the company might have to target a timeframe later in the year, if not 2023.

Carlyle, Golden Goose's previous owner, had considered listing the company but it later decided to sell privately to Permira in 2020, the same source added.

Golden Goose proved its resilience during the pandemic, generating revenues of EUR 265m in 2020, a rise of 2% compared to EUR 262m sales in 2019, another source said.

The company is viewed as financially solid and is performing well in one of the fastest growing segments of the luxury space, the sneakers market, making it an enticing IPO candidate, the same source added.

Italian luxury shoe manufacturer Tod’s and Italian fashion company Ferragamo could be used as listed peers because of similarities in their products and international exposure, the sources said.

In April 2021, Golden Goose CEO Silvio Campara disclosed that the firm was considering an IPO as a logical step given that the fashion house created significant value for its private equity shareholders, as reported.

Founded in 2000 by Alessandro Gallo and Francesca Rinaldo, the Italy-based company is best known for producing luxury sneakers but also sells t-shirts, knitwear, pants, jeans, jackets, coats, suits, boots, shoes, bags, and purses for women, men, and kids.

Golden Goose sells to customers in the US, Europe and Asia, according to public company information.

[Editor's Note: The fourth paragraph has been updated post publication to include Golden Goose's statement.]

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