Luxury sneaker maker Golden Goose postpones IPO citing political turmoil in Europe

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.