Luxurious sneaker maker Golden Goose’s gross sales grew 13 p.c to hit €654.6 million ($714 million) final yr, the corporate stated Wednesday.
The strong development defied a broader luxurious slowdown that has weighed on the sector in latest quarters. Non-public equity-backed Golden Goose is specializing in sustaining that development momentum, slightly than revisiting a plan to go public that was abruptly postponed final yr, citing market volatility, CEO Silvio Campara stated.
“It looks like the corporate’s getting stronger however the market is getting crazier,” Campara stated.
Golden Goose took on recent funding in January, when Blue Pool, a Hong Kong-based funding agency backed by Alibaba co-founder Joe Tsai, took a 12 p.c stake. Nearly all of the Venice-based model remains to be owned by non-public fairness agency Permira.
Income development in 2024 was pushed by robust direct gross sales, supported by a variety of new retailer openings, the corporate stated. Direct-to-consumer gross sales elevated 18 p.c, serving to to offset a small decline in wholesale income as the corporate streamlined its distribution community. Earnings Earlier than Curiosity and Tax, a measure of working revenue, grew 9 p.c within the yr to €163.4 million.
The corporate is concentrating on extra development in 2025, supported by enlargement into new markets and a give attention to experiential retail that has helped it construct a loyal and younger buyer base.
“The outdated world was centered on product; we’re centered on folks, on expertise,” stated Campara. “We wish each buyer to really feel part of this model. The brand new shortage is just not with reference to having one thing, however being a part of one thing.”
The manager stated he was unfazed by the prospect of toughening market situations because of rising commerce tensions. The model has already lined up manufacturing capability within the US if wanted, he added.
Be taught extra:
Alibaba’s Tsai-Backed Agency Buys 12% of Italian Luxurious Sneaker Maker Golden Goose
The funding comes after the maker of $600 a pair sneakers abruptly pulled plans for a inventory market itemizing final yr.
