Golden Goose sees double-digit growth
Ahead of its initial public offering (IPO) on the Milan Stock Exchange, Italian luxury brand Golden Goose, known for its Superstar sneakers and distressed look, reported net sales growth of 18% year-on-year in 2023, Worldfootwear.com reports. .
The company recorded revenue growth of 18% at constant exchange rates to €587 million in 2023, up from €500,9 million in the previous year. This result was primarily driven by the expansion and strong performance of the Direct to consumer channel across multiple geographies. Last year, Golden Goose's retail network expanded by 21 stores, bringing the total number of Golden Goose stores to 191.
Golden Goose also said its adjusted operating profit rose 22% year on year to €149 million in the 12 months to December 31 last year. Adjusted earnings before interest, taxes, depreciation and amortization also rose 19% year-on-year to €200 million.
“Our strong performance in 2023 – double-digit growth against a challenging macroeconomic backdrop – further demonstrates the strength of our brand and the value of our people, who are essential to building our long-term and sustainable vision,” commented Golden Goose CEO Silvio Campara.
He noted that in response to the demand of the target audience of consumers, Golden Goose strives to offer something more than just a luxury product, in his opinion, the brand should reflect the values of consumers and be part of a community.
“At Golden Goose, we have a unique strategy to expand our experience of co-creation and refurbishment of any brand because we value the history and uniqueness of each,” explained Silvio Campara. Thus recalling the launch at the beginning of 2023 of a new Forward retail format, stores with an expanded range of services, which includes repairs, resale and processing. By the end of 2023, Golden Goose already had five Forward stores around the world.
Golden Goose's financial results were released after the brand's owner, global investment firm Permira, filed for a new IPO last year, which could see Golden Goose list in Milan in 2024.
Ahead of its initial public offering (IPO) on the Milan Stock Exchange, Italian luxury brand Golden Goose, known for its Superstar sneakers and faux...
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