Reported 8 months ago
Due to the turbulent European political situation affecting the luxury goods market, Italian fashion brand Golden Goose announced on June 18th that it would delay its IPO in Milan. This decision was attributed to the European Parliament elections and early elections in France, leading to a 'clear deterioration' of market conditions. Golden Goose, known for its 'dirty sneakers' worn by celebrities like Taylor Swift, Gong Yoo, Song Joong Ki, Jolin Tsai, and Yang Mi, had planned to go public on the 21st with a share price set at €9.75, at the lower end of its target range of €9.50 to €10.50, aiming for a valuation of €1.86 billion. The company's shareholder, private equity firm Permira, planned to sell 30% of its stake for up to €558 million, including Invesco's agreed investment of €100 million. Golden Goose expressed that current market conditions, influenced by the European elections and early French elections, were not suitable for the IPO and stated that they would reassess the timing in the future.
Source: YAHOO