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A general view of Golden Goose Superstar “Paint Your Love” sneakers.
Icon Sportswire | Icon Sportswire | Getty Images
Italian sportswear brand Golden Goose postponed its Milan IPO on the grounds that the European Parliament elections and the call for a snap election in France have led to “significant deterioration” in market conditions.
Golden Goose, known for its worn-looking trainers which have been made popular by celebrities such as Taylor Swift, was aiming for a market capitalization of up to 1.86 billion euros ($2 billion).
The “current market backdrop is not the right environment to take the company public,” the firm said in a Tuesday statement, adding that an IPO will be reassessed in due course.