2024 OCTOBER ISSUE
INTRODUCING
GOLDEN GOOSE
THE ITALIAN SPORTS BRAND
Written by Andrew Sia
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From the Desk of the Publisher
Golden Goose is an Italian brand based in Venice. It was founded in 2000. It is made out of premium Italian leather for durability and comfort. Each pair is uniquely made by hand with the purposely distressed or worn-out look. It is sought after by the young and affluent who look at sneaker as a status symbol. It can be a conversation piece for the sneakerhead.
Lately, we have found that the company’s IPO plan has been shelved. Perhaps it is time for the brand to diversified its product categories before a stronger come back.
Golden Goose is an Italian fashion brand known for its high-fashion sneakers. The brand was founded in Venice in 2000 by Alessandro Gallo and Francesca Rinaldo, a married couple and both are young designers. Golden Goose products are known for their modern style with a vintage feel. They are inspired by the couple’s love of art, travel. research and passion in vintage. The brand’s handmade shoes are individually pretreated with the pre-distressed look. It is becoming their signature.
Golden Goose sneakers are popular for a number of reasons:
Comfort – They are comfortable in any of the seasons.
Confidence feel – Some styles have a wedge built in the heel and that can make the wearer appears taller.
Weatherproof – The shoes can be worn with casual outfit are suitable for all seasons.
Golden Goose also offers ready-to-wear clothing, bags and accessories. Its flagship stores are found in Venice, New York, Paris, London, Milan, Tokyo, Seoul, Beijing, Beirut and St. Tropez. It has almost 200 stores trying to follow its young customers.
Its used-looking trainers at €500 a pair have seen by well-heeled celebrities like Taylor Swift and Gomez, and 50% of the business is coming from regular customers making the people wonder when the trend change. Over 90% of its revenues come from selling trainers, and its venture into other categories are only at their beginning.
I have found that all its items are overpriced after I have browsed on their website for its sneakers, clothing, bags and accessories.
But the luxury business is already stress as Kering SA said that sales at its Gucci brand fell 18% due to the lack of demand in China in the first quarter of the year. LVMH reported 2% growth in fashion, but leather goods for the first quarter down from 18% growth a year earlier.
In May 2025, Golden Goose is rolling out partnerships with creators including singer and actress Suki Waterhouse, tattoo artist Brian Woo, native American activist Quannah Chasinghorse, architect Fabio Novembre and K-pop musician Sunmi, in a cross-culture center rolling out in Venice.
Recently this luxury sneaker brand Golden Goose SpA has planned for an initial public offering in Milan has joined the listing of the Spanish beauty group Puig Brands SA. Investors are expected to value the shoemaker at about 11 times this year’s estimated earning and this would normally mean the valuation of $3.3 billion, including net debts. Permira, its current owner, bought the Golden Goose for €1.3 billion in 2020. It has reached €587 million in its annual sales last year, and it is targeting €1 billion in 2029.
At this point of time when the current market environment has made a downturn. Three weeks ago, the results of the European Parliament elections, followed the French President Emmanuel Macron’s snap decision for the parliamentary election caused political instability. Stock markets in Europe reacted poorly.
Golden Goose reduced its valuation ranging from €1.69 billion to €1.86 billion and planned to raise €100 billion from an offer of new shares. After more than ten months of preparation, the decision for the IPO was shelfed. This could have been a good decision rather than seeing the stock plunged 20% after its two week’s trading.
