Italian luxury sports shoe brand Golden Goose recently announced its latest fiscal year performance data as of December 31, 2023: All markets performed well, and direct sales channels were particularly outstanding, driving the brand’s sales growth in 2023 at fixed exchange rates. 18%, reaching 587 million euros.
Golden Goose’s EBITDA (adjusted earnings before interest, taxes, depreciation, and amortization) increased by 19% year-on-year to 200 million euros in 2023; EBIT (earnings before interest, taxes, depreciation, and amortization) increased by 22% year-on-year to 149 million euros. As of December 31, Golden Goose’s net debt, including lease liabilities, was 479 million euros.
In 2023, Golden Goose’s sales increased in all markets, with the positive performance of the direct sales channel benefiting from the opening of 21 new stores. As of December 31, 2023, the total number of Golden Goose stores worldwide reached 191.
It is worth mentioning that the newly opened stores also include two “Forward stores” (an innovative retail concept that mainly provides consumers with recycling-oriented services such as repair, renovation and recycling), one in Miami (the second in the United States) Forward store) and another in Paris (the second “Forward store” in Europe). Golden Goose will launch the Forward Agenda sustainable development plan in March 2022, launching a series of projects around the four major areas of innovation, craftsmanship, humanistic care, and community support. In July 2022, Golden Goose opened its first “Forward store” in Milan (pictured below).
Brand CEO Silvio Campara said: “In a difficult macroeconomic environment, we still achieved solid double-digit growth in 2023, which is enough to prove the strength of our brand and the value created by our employees. Consumers (today) want They want to buy products that reflect their values and make them feel like they are part of a community. We are implementing a unique strategy to expand co-creation experiences and repair tasks for users. One brand product service.”
In addition, Golden Goose will continue to strengthen its internal supply chain in 2023 and completed the acquisition of all shares of the supplier Sirio Shoe Factory in November. As early as 2022, the brand has acquired 30% of Sirio’s equity. Together with Italian Fashion Team, another major supplier acquired in 2022, 50% of Golden Goose’s annual output will be produced in-house.
According to people familiar with the matter, Golden Goose plans to conduct an IPO in Milan in the first half of this year, hoping to raise approximately 1 billion euros through the initial public offering. Permira, the brand’s controlling shareholder, has hired seven banks as underwriters for the listing.
