Golden Goose Group S.p.A (Group) CEO, Silvio Campara, said he was excited for the year ahead after a strong 2025, marked by growth across all regions powered by its direct-to-consumer (DTC) channel.

“I’m proud to be presenting our FY 25 results, looking back at yet another year of strong, consistent growth and momentum for Golden Goose,” Campara commented. “We were delighted to announce that HSG and Temasek are joining the Group as new strategic investors to help advance our international ambitions and live up to our full potential as a next-generation luxury brand.”

He said the company delivered continued financial momentum, with double-digit revenue growth and a strong EBITDA margin of 34 percent for the full year, as it further accelerates its DTC strategy and strengthens its community-driven model across regions.

Campara pointed out new sneaker models True-Star and Marathon Speed, new store openings across destinations in Mumbai, Tokyo, London Mount Street, and Naples, and the opening of the Padel Arena in Milan demonstrates the brand’s commitment to blending craftsmanship, culture and community.

“As we look ahead to 2026 and beyond, I am more excited than ever about Golden Goose’s potential and bringing even more of Italy to our community of Dreamers around the world,” he shared.

Full-Year 2025 Summary
Net revenues amounted to €734 million in 2025, up 15 percent year-over-year in constant currency terms.

DTC is seen as the engine of growth for the Golden Goose brand, with net revenues increasing 21 percent (y/y) in constant-currency and now representing 81 percent of total revenues, compared to 77 percent in 2024. The growth was reportedly driven by 17 new store openings in 2025, strong digital traffic and conversion, and continued double-digit growth across regions.

The Group’s global Directly Operated Stores (DOS) network reached 232 doors at the end of 2025. New locations include Tokyo Ginza, Mumbai, Manila, London Mount Street, Naples, and Ibiza.

All regions delivered strong performance, but the Americas still lag the global trend for the brand. EMEA posted 18 percent y/y revenue growth for 2025, APAC was up 17 percent y/y, and the Americas grew 9 percent y/y.

Adjusted EBITDA amounted to €248.3 million in 2025, with a margin of 34 percent of revenue.

Cash position of €9 4.4 million and net leverage of 2.6x as of December 31, 2025

A Big Year with Big Changes in 2025
In December, Golden Goose announced that HSG would become the majority investor, alongside Temasek as a minority shareholder, subject to customary closing conditions. The move is expected to accelerate Golden Goose’s global ambitions as a “leading next-generation luxury brand,” while preserving and further investing in its Made in Italy roots.

Early investor Permira will remain committed as a strategic minority shareholder, continuing its successful partnership with the company. In other moves, Marco Bizzarri, currently a non-executive director on the Golden Goose board, will become non-executive chairman.

Opened the Golden Goose Arena in Milan, designed by Novembre Studio. The company said the Arena is a place that redefines the sports experience through community and wellbeing, in the heart of Milan’s CityLife district. The space features nine padel courts and immersive facilities.

Golden Goose Arena

Images courtesy Golden Goose Group S.p.A