Golden Goose Group S.p.A., the Italian luxury sneaker brand, reported adjusted operating earnings rose 7 percent in the nine months ended September 30 on a 13 percent revenue gain. The gains were boosted by an acceleration of the company’s direct-to-consumer (DTC) channel in the third quarter.

9M 2025 Top Line Financial Highlights

  • Net Revenues: €517.1 million, up 13 percent vs. 9M 2024.
  • DTC Net Revenues: Up 21 percent year-on-year (YoY), representing 79 percent of net revenues vs. 74 percent in 9M 2024, driven by new retail openings and double-digit like-for-like (LFL) performance.
  • Geographies: Double-digit growth in all regions. EMEA and APAC up 15 percent, with the Americas growing 10 percent for 9M 2025.
  • Adjusted EBITDA: €173.6 million, up 7 percent YoY, with an EBITDA margin of 33.6 percent. Margin expansion in 3Q 2025 vs. 3Q 2024.
  • Solid Liquidity and Leverage: Cash position of €92 million and net leverage of 2.7×2 as of September 30, 2025.

Operational Highlights

  • DTC Engine of Growth: Up 21 percent vs. 9M 2024, growing 24 percent YoY in EMEA, and 18 percent in the Americas and APAC.
  • Store Network Expansion: The Group’s global Directly Operated Stores (DOS) network reached 227 at the end of 9M 2025, with 12 net new store openings since FY 2024. New locations include Haus Tokyo, Chengdu, Hyundai Jungdong, Mumbai, Singapore Paragon, Manila, Ibiza, Paraggi, Venice Airport, Milan, and Dubai kids
  • Iconic Launches: Opened the Golden Goose Arena in Milan’s CityLife district, with nine padel courts and immersive facilities; spotlighted its Super-Star sneaker in a campaign featuring Jane Fonda with Wimbledon finalist Jasmine Paolini; added sponsored athletes Jasmine Paolini and Zizou Bergs (tennis) and Marta Ortega and Juan Lebrón (padel).

Sustainability
Achieved LEED Gold for its Rome Fiumicino Airport T1 store; Ranked No.1 in the global Footwear sector for the second consecutive year and No.5 out of 187 companies in the Textiles & Apparel industry in the Sustainalytics 2025 ESG Rating, and included in Sustainalytics’ 2025 ESG Top-Rated Companies list for its industry; Extended the Gender Equality European & International Standard Certification (GEEIS) across its headquarters and stores in the EMEA, Americas, APAC, and Korea regions.

Company CEO Silvio Campara commented, “Golden Goose has had another strong quarter of double-digit growth across all our regions, demonstrating the resilience of our business model and the global resonance of our brand. Driven by yet another step-change in DTC, we’ve delivered another quarter of uninterrupted, profitable growth. We expanded our store network with unique openings, from Tokyo to Chengdu, reignited icons such as the Super-Star with bold new voices, launched a new sneaker silhouette, and opened the Golden Goose Arena in Milan, a place where sport, culture, and community meet. Looking ahead, Golden Goose is well-positioned to bring co-creation to new levels and to continue connecting with our growing Golden community. As always, my deepest thanks go to our Golden Family for making it all possible.”

Image courtesy Golden Goose