Italian trainer brand Golden Goose abandons £2.5bn Milan float amid election turmoil

Taylor made: US popstar Taylor Swift wears Golden Goose trainers during a walk in New York

An Italian luxury trainer brand has insisted it has no plans to list outside Italy after a £2.5billion flotation in Milan was abandoned amid election turmoil. 

Golden Goose, which counts pop singer Taylor Swift among its fans, said on Tuesday that it was postponing plans for an initial public offering in Milan due to European market volatility. 

The firm, co-founded by husband and wife Alessandro Gallo and Francesca Rinaldo in 25 years ago, said ‘the current market backdrop 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 any other stock markets, including London. 

‘The ‘made in Italy’ component of the brand is a huge part of its heritage so Milan is likely to remain the preferred location,’ the source said. 

Golden Goose said it had received a ‘very positive’ response from investors to its IPO process