Due to the success of a number of IPOs last year, more businesses are taking a tentative look at going public. A number of fashion and beauty companies are also considering an IPO as a result of the increasing trust in the market. Italian clothing brand Golden Goose and Spanish fashion group Puig are all considering going public as soon as the first half of the year if market conditions allow, people connected with the deal said.
No final decisions have been made, and the timing and structure of the deals might change, the people, who spoke on condition of anonymity, cautioned. Still, the plans reflect warming market sentiment towards IPOs, after high interest rates and economic uncertainty all but froze transactions over the last two years.
They also illustrate how private equity groups are moving to take advantage of improving market conditions to return capital to their funders.
Permira-backed Golden Goose, known for its worn-looking sneakers, is working towards a Milan IPO in the first half, two people familiar with the plans said.
In Spain, family-owned Puig, known for brands like Carolina Herrera and Paco Rabanne, is eyeing a listing before the summer if markets allow, three people familiar with the plans said.
The plans come after the Majorca-based group – backed by Cinven, EQT and Canadian pension fund CPP Investments – explored a private sale in recent months, two other sources said. Rising momentum for deals comes as central banks have started signalling an end to interest rate rises in a boost for equity markets.
