Italian luxury sneaker maker Golden Goose Group reported adjusted EBITDA grew 9 percent year over year in the first half as sales advanced 15 percent, boosted by accelerated DTC growth. Growth was up double-digit across regions, with the Americas ahead 18 percent; EMEA, 14 percent; and APAC, 17 percent.

H1 2026 Financial Highlights

  • Net revenues: €380.4 million ($441 mm), up 15 percent, with Q2 net revenues growing 19 percent year-on- year
  • Direct-to-consumer (DTC) net revenues: €309.6 million, up 22 percent yearon- year;
  • DTC represented 81 percent of total revenues (vs. 77 percent in 1H 2025)
  • Adjusted EBITDA: €122.9 million, up 9 percent year -on- year, with an adjusted EBITDA margin of 32.3 percent
  • Gross margin: 75.8 percent in 1H 2026, representing 12 percent YoY growth
  • Cash position: €86.8 million as of June 30, with adjusted operating cash flow of €46.3 million
  • Net leverage ratio: 2.7x as of 30 June 2026

Business Highlights

  • New ownership structure: HSG became majority shareholder in Q2, joined by Temasek as a minority investor, with Permira remaining a strategic shareholder providing continuity. Leveraging their international experience, HSG and Temasek “will support Golden Goose’s continued global expansion and innovation strategy, while preserving the brand’s distinctive identity and Made in Italy roots.”
  • Continued delivery of DTC strategy with revenue growth of 22 percent: Retail sales continued to be the key driver of growth, thanks to double-digit like-for-like performance and space effect. Digital performed strongly in 1H 2026, delivering growth in the mid-teens. Wholesale revenues declined by 6 percent in 1H 2026, while returning to positive growth with 5 percent in the second quarter, as the company continued to execute on its selective wholesale strategy.
  • Strong double-digit performance across regions. Americas saw 18 percent growth, supported by DTC growth of 22 percent. EMEA’s sales expanded 14 percent, with strong DTC performance despite the impact of the conflict in the Middle East. APAC’s sales grew 17 percent, supported by DTC growth of 19 percent.
  • Store network , openings and experimental retail: The Group’s global directly operated stores network stood at 230 at the end of June 2026.
  • New products: The half saw the global launch of the Marathon Speed, following its exclusive launch in China and South Korea in 2025
  • Tennis and sports: Golden Goose signed tennis players Gabriel Diallo and Dayana Yastremska as global brand ambassadors for 2026.
  • Employee engagement recognition: Golden Goose was recognized as a Top Employer 2026, receiving the certification for the fifth consecutive year in Italy, the fourth in the United States, the third in China and the second in South Korea.
  • Sustainability Plan 2026 -2030: Having met most of the targets under its first sustainability plan, Golden Goose has defined the next chapter of its journey, with the launch of the new Forward Agenda (2026 -2030), building on four strategic drivers: “We Innovate, We Craft, WeCare and We Share.” Over the last few years, Golden Goose said it “has transformed its responsible ambition into tangible actions through meaningful projects and measurable results, with the recognition of the “A” Score from CDP Climate Change and ranked first in the Sustainalytics’ ESG rating for the Footwear Sector as of March 2026.”

Silvio Campara, chief executive officer of Golden Goose, commented: “We are pleased to deliver another set of strong results for Golden Goose, with revenues growing 15 percent in the first half and accelerating further in the second quarter, demonstrating sustained momentum. Driven by double-digit growth across every region, this performance reflects yet again the global appeal of our brand and the strength of our community -led model.

“Among the milestones, our retail stores turned into places to gather and make products together through Arts & Crafts, a global workshop s program which celebrates the art of crafting objects with your own hands.

“We are excited to welcome HSG and Temasek to our Family as our majority investor and minority shareholder this quarter, along with our longstanding partners at Permira remaining strategic shareholders, providing continuity .”

Image courtesy Golden Goose