Luxury sneaker brand Golden Goose SpA plans to kick off an initial public offering in Milan as soon as this week, according to people familiar with the matter, extending a strong rebound in European listings this year.

Golden Goose may indicate its intention to float as soon as this week following positive feedback from prospective investors, said the people, who asked not to be identified as the information is private.

Golden Goose is being pitched as a comparable to puffy jacket maker Moncler SpA, and investors are expected to value the shoemaker at about 11 times this year’s estimated earnings, they said. That would value the company at about €3 billion ($3.3 billion) including net debt, according to Bloomberg calculations.

Deliberations are ongoing and details of the offering including timeline and size could still change, the people said. A representative for the company and its owner, the private equity firm Permira, declined to comment.

Golden Goose would join buyout giant CVC Capital Partners Plc and Spanish beauty group Puig Brands SA in moving ahead with listing plans in Europe, boosted by the stock market’s rally to record highs. Companies in the region have raised $12.4 billion by IPOs this year, more than double the amount in the same period last year.

Still, the company is testing the market at a time when the luxury business is slowing. Kering SA said last month that sales at its Gucci brand fell 18% in the first quarter on slack demand in China. Larger rival LVMH reported 2% organic sales growth in fashion and leather goods for the first quarter, down from 18% growth a year earlier.

Golden Goose shoes, all handcrafted in Italy featuring weather-beaten designs with a large star, are worn by celebrities including singers Selena Gomez and Taylor Swift. A pair of Ball Star Wishes sneakers for men is priced at $740 on the company’s website.

Permira bought the shoemaker for €1.3 billion in 2020. At Golden Goose IPO’s pitch meetings late last year, bankers showed up wearing the namesake sneakers with sharp suits as they tried to impress prospective clients and competed for roles on the deal, Bloomberg News reported in November.