Golden Goose continues to report ‘robust growth’ on DTC sales especially in EMEA

Golden Goose reported a 12 percent increase in sales to €466 million for the first nine months of the year, as the luxury Italian sneaker brand “continues to demonstrate robust growth amid a volatile market landscape.”

The Milan-based company said double-digit sales growth for the nine months ending September 30 was driven by a strong performance in its direct-to-consumer (DTC) channel, growing 18 percent year-on-year to €346.1 million, thanks largely to a 37 percent uptick in DTC sales in Europe, the Middle East and Africa (EMEA), and a 14 percent gain in the Americas. In DTC, retail was the main contributor to growth, up 20 percent, thanks to new openings and mid-single digit like-for-like performance.

The company’s digital channel also performed strongly, thanks to positive traffic dynamics, while wholesale revenues fell 4 percent to €110.4 million, as a result of the firm’s ongoing strategic reviewing of its distribution network, as well as a favouring toward DTC. By geographic market, the EMEA region accounted for 49 percent of revenues in the period, Americas accounted for 38 percent, and APAC accounted for 13 percent during the nine months.

Contributing to the strong sales growth, revenues for the firm’s recently ended third quarter were also up 12 percent, said Golden Goose in a statement.

“Our performance today shows the power of our determination, innovation, and ambition. In the first nine months of 2024, we opened Haus in Marghera, Venice, a place which celebrates product, arts and craftsmanship and reconfirms our effort at fostering the new generation of artisans through our new Academy,” said ​Silvio Campara, chief executive officer of Golden Goose Group.

“We opened new stores around the world, including Haus in Mexico City which witnesses our strong engagement with local communities. Against a backdrop of headwinds in the luxury sector, we are committed to sustaining our momentum by enhancing the shift from marketing to experience by putting our customers and community at the center. I am confident that this will carry us from strength to strength in the future.”

In June this year, Golden Goose said it would postpone its initial public offering on the Milan bourse because of market volatility arising from political uncertainty in Europe.