How to Invest in Golden Goose Pre-IPO

Founded in 2000 by Alessandro Gallo and Francesca Rinaldo, Golden Goose's early collection was the Golden Boot. It was a reworking of traditional Texas boots and marked the company's official entry into the U.S. luxury consumer market.

In 2007, Golden Goose launched its signature sneakers, which remain among its top-selling products. The average pair of sneakers costs around $500 to $600, but many of its products come at a much higher price point.

By 2017, almost two decades into its business story, Golden Goose was reporting revenues of 140 million euros ($148 million) and was acquired for a third time by global investment firm Carlyle Group. In 2020, Golden Goose was bought by Permira, a British global investment firm that focuses on buyouts, growth funds, credit funds, and equity funds.

Within two years, Golden Goose's annual revenue had jumped to 500 million euros ($528 million), and it had 180 stores. The company has garnered plenty of attention from investors eager to take a slice of the action. Many retail investors might be wondering whether or when they will get a chance to invest in the company. Here's a look at what you ought to consider if that opportunity comes to fruition.

Is Golden Goose publicly traded?

Golden Goose is not currently publicly traded. Permira, the private equity firm that owns Golden Goose, had planned to take the company public on June 21, 2024. However, the firm postponed the initial public offering (IPO) on Borsa Italiana, the Italian Stock Exchange, citing concerns over market volatility caused by ongoing political elections in Europe.

That said, a specific date had not been set as of late 2025. So, retail investors cannot buy shares of the company through their brokerage accounts yet.

When will Golden Goose IPO?

Although Golden Goose's IPO has been postponed for now, Permira could decide to take the company public in the future, and management has indicated its willingness to do so. However, as of late 2025, it had not set a new date for an IPO.

The company aimed for a post-IPO market capitalization (market cap) of approximately 1.86 billion euros ($2 billion). While that market cap would have been on the low end of prior expectations, the IPO would still have been one of the largest ever to occur on the Borsa Italiana. However, all investors will just have to wait and see.

How to buy Golden Goose stock

As of late 2025, Golden Goose does not have another scheduled on the IPO calendar. However, investors can still buy shares of top footwear and apparel stocks, both in and outside the luxury sector, to gain exposure to some of the markets Golden Goose seeks to capture.

Growth in the luxury sector has slowed after numerous years of superior returns in the post-pandemic landscape. According to consultant Bain and Company, sales of personal luxury goods are set to fall 2% in 2025 and would endure a longer downswing of 5-9%.

These factors will take time to improve, but investors with a long-term buy-and-hold horizon can still find plenty of intriguing alternatives to invest in the industry in which it operates. Here are just a few choices to consider.

1. LVMH Moët Hennessy

LVMH Moët Hennessy (LVMUY +1.38%) is known for its extensive luxury goods portfolio, which features everything from wine and spirits to premier fashion, leather goods, footwear, perfume, cosmetics, and watches. Its family of brands includes well-known names such as Louis Vuitton, Moët Hennessy, Dior, Givenchy, Fendi, Celine, Kenzo, Tiffany, Bulgari, and Loewe.

A step-by-step guide to buying shares

If you want to buy shares of any of the aforementioned companies or otherwise gain exposure to the luxury and/or footwear markets, here are the steps you'll need to follow.

1. Open your brokerage app: Log in to your brokerage account where you handle your investments.
2. Search for the stock: Enter the stock ticker or company name into the search bar to bring up the stock's trading page.
3. Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
4. Select the order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
5. Submit your order: Confirm the details and submit your buy order.
6. Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

Is Golden Goose profitable?

Golden Goose isn't publicly traded, so it isn't subject to the same financial disclosures as a publicly traded entity. However, Golden Goose started reporting financials earlier in 2024 in anticipation of its IPO. Therefore, investors have some concrete financial figures to look at, even if a public offering is not a likely near-term event. As of 2025, there is no update on Golden Goose's financials.

Golden Goose has been profitable every year since 2021. For full-year 2023, the luxury footwear and apparel company reported a net income of 49 million euros ($52 million). It reported a net income of 46.4 million euros ($49.0 million) in 2022 and 87.6 million euros ($92.5 million) in 2021.

Should I invest in Golden Goose?

Because Golden Goose is not publicly traded, you can't invest in it currently. However, for investors watching this company in anticipation of a potential run at another IPO in the next few years, there are some points worth mentioning.

Golden Goose is building a track record of consistent profitability, even though net income has fluctuated significantly for the years that the company has released financial statements. On the flip side, revenue has grown steadily. In 2023, Golden Goose reported revenue of 587.2 million euros ($620.0 million), up 17% from the prior year.

Looking at the first nine months of 2024, Golden Goose brought in revenue of 466 million euros ($492 million), a 12% year-over-year increase. Selling direct-to-consumer continues to be an integral aspect of Golden Goose's growth strategy. Currently, 74% of revenues are derived from direct-to-consumer sales, while 50% are derived from repeat customers.

Golden Goose says that 48% of brand awareness comes from word of mouth rather than traditional advertising strategies. The company also attracts loyal customers through initiatives like its co-creation experiences, which allow buyers to customize their sneakers online or in-store.

Unfortunately, you can't invest in Golden Goose at the time of this article. However, buying shares in companies with exposure to the luxury and/or footwear categories can present a favorable alternative.

ETFs with exposure to Golden Goose

By investing in an exchange-traded fund (ETF), investors can gain exposure to companies similar to Golden Goose while enjoying instant diversification to other brands and companies. There are numerous ETFs worth considering that hold shares of companies like or adjacent to LVMH, Burberry Group, or Adidas.

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