Italian sneaker brand Golden Goose is leaving the £2.5 billion Milan stock exchange amid election unrest
Taylor made: American pop star Taylor Swift wears Golden Goose sneakers while walking in New York
An Italian luxury sports shoe brand has insisted it has no plans to list outside Italy after a £2.5 billion flotation in Milan was halted due to election unrest.
Golden Goose, which counts pop singer Taylor Swift among its fans, said Tuesday it is postponing plans for an initial public offering in Milan due to volatility in the European market.
The company, co-founded 25 years ago by husband and wife Alessandro Gallo and Francesca Rinaldo, said “the current market environment is not the right environment to take the company public.”
The company added that an initial public offering (IPO) “will be reassessed in due course.”
A source close to Golden Goose said it had no plans to consider other stock markets, including London.
“The ‘made in Italy’ component of the brand is a big part of its heritage, so Milan will likely remain the location of choice,” the source said.
Golden Goose said it had received a “very positive” response from investors to the IPO process