Taylor Swift's Favorite Sneaker Brand Is Going Public: Golden Goose Boasts $3.3B Valuation

Author: Aaron Bry | May 29, 2024 03:32pm

Golden Goose isn't your typical sneaker brand for three reasons.

One, many of their shoes appear smudged up and as if they're dirty and already worn. Two, the shoes are casual sneakers that range from $500 to $700.

And three, the brand has lots of celebrities rocking its product. Megastars like Taylor Swift, Selena Gomez and Reese Witherspoon are sporting the shoes.

The company is aiming to go public, and it could happen as soon as this week, according to Business of Fashion. So, instead of hitting the NYSE or the NASDAQ, Venice, Italy-based Golden Goose is going public in Milan.

Former Gucci CEO Marco Bizzarri was recently elected to the board.

Investors are expected to value the shoemaker at around 11 times this year's earnings. That would put the valuation at $3.3 billion.

That makes it a much smaller company by market capitalization compared to American shoe brands like Crocs Inc (NASDAQ:CROX) which is valued at around $10 billion, and Skechers Inc (NYSE:SKX) valued at around $10 billion.

Will You Be Able To Invest? Most foreign companies are still available in U.S. markets. Many companies have a designated American listing, or American Depositary Receipts (ADRs), essentially alternative listings in the U.S.

For example, Alibaba Group Holding's (NYSE:BABA) listing on the NYSE is an ADR.

But, many foreign company ADRs are listed on the OTC Markets, which can make it a little bit more difficult to invest. Some brokerages do not list OTC stocks for customers, which can make it a little bit more difficult to invest in foreign companies.

It's likely that whether through an ADR or direct U.S. listing, you will be able to buy shares in Golden Goose once it officially goes public.

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Image: Golden Goose

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