An Italian luxury retailer famous for its ‘dirty’ trainers is plotting a float on the country’s stock market, which would be its biggest listing in at least a year.

Golden Goose 'dirty' trainers

Golden Goose is famous for selling ‘dirty’ trainers

Golden Goose confirmed yesterday that it plans to float at least 25% of the company and raise €100m (£85.2m) of new money “while selling an unspecified amount of existing shares”, as reported by the Financial Times.

The float is expected to value the business at €3bn (£2.56bn) including debt.

The listing is said to be “one of the most anticipated in Europe” following a turbulent time for the luxury sector as it battles the ongoing slowdown in the market.

It will also be Italy’s largest since the flotation of gambling business Lottomatica last year.

Golden Goose chief executive Silvio Campara added that the listing on the Milan Stock Exchange was a “natural next step” for the business, which was first founded in Venice, Italy, in 2000.

Chief financial officer Paolo Dal Ferro told the newspaper that the group aims to “grow organically and deleverage the company while keeping [its] operating margins table”.

Golden Goose owner Permira Funds is reported to have drafted in banks to work on the float at the end of last year, but Dal Ferro said the “market will decide the price [and the] valuation will depend on demand and offer”.

He added: “An IPO is not a one-shot deal… it’s a long journey with investors.”

Golden Goose was first acquired by British private equity firm Permira in 2020 and its products have been worn by the likes of Taylor Swift and Selena Gomez. It is now forecasting revenues to reach €1bn (£850m) by 2029.

The news comes as listings are easing off across Europe due to “market volatility” and “lacklustre share price performance” among newly listed businesses.