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Bankers turn up in $600 sneakers for a chance at Golden Goose IPO, ET Retail

Bankers vying for a role on a possible initial public offering of Golden Goose showed up at pitch meetings wearing pairs of the luxury Italian shoemaker’s $600 sneakers, people with knowledge of the matter said.

Roughly a dozen banks competed last week in a so-called bakeoff for roles on a potential Milan listing of Golden Goose, according to the people. Bankers pitched valuations of ₹3 billion ($3.3 billion) to ₹4 billion for the company, they said.

At least 20 investment bankers were wearing Golden Goose sneakers while making their pitch, according to the people. One person said he had to rush to the brand’s Milan flagship store to buy a pair, only to then realise several of his competitors had already done the same.

Bloomberg News reported in June that Golden Goose’s owner, the private equity firm Permira, was weighing a sale of the business it bought for ₹1.3 billion in 2020. It’s now shifted its focus to a potential listing, the people said.

Golden Goose shoes, which feature weather-beaten designs with a large star, are worn by celebrities including singers Selena Gomez and Taylor Swift.

  • Published On Nov 24, 2023 at 08:52 AM IST

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