Golden Goose Group S.p.A reported sales reached €466 million ($500 mm) in the nine months, up 12 percent year over year.
The growth for the Milan-based luxury streetwear and sneaker brand was driven by the direct-to-consumer (DTC) channel, where revenues jumped 18 percent to €346.1 million. DTC accounted for 74 percent of revenues, up from 71 percent in the year-ago nine months. Regionally, the DTC gains were driven by EMEA, up 37 percent on a DTC basis, and the Americas, up 14 percent.
In DTC, retail, up 20 percent, was the main contributor to growth, thanks to new openings and a mid-single-digit same-store growth.
The Wholesale channel achieved net revenues of €110.4 million, accounting for 24 percent of total net revenues in the period. This represented a 4 percent decline year-onyear, as a result of the strategic decision to continue upgrading the quality of the distribution network and the continued focus on keeping the channel clean, preserving the brand, and favoring DTC.
In terms of geographies, EMEA accounted for 49 percent of net revenues in the nine months, Americas, 38 percent; and APAC, 13 percent.
For the third quarter, consolidated growth was up 12 percent, in line with first-half results.
Silvio Campara, chief executive officer of Golden Goose Group, commented, “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. 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.”
Photo courtesy Golden Goose
