Golden Goose revenues rise 18% in FY23
The retailer has attributed its performance to growth across all regions, which was driven by the direct-to-consumer channel
Italian shoe brand Golden Goose has experienced an 18% rise in net revenues to €587m (£500m) for the year ended 31 December 2023 ahead of its IPO this year.
During 2023, the group reported that adjusted EBITDA stood at €200m (£170m), spelling an increase of 19% on FY22.
The retailer has attributed its performance to growth across all regions, which was driven by the direct-to-consumer channel.
In addition, Golden Goose opened 21 new stores in 2023, bringing its total store network to 191 globally.
The news comes as Golden Goose owner Permira filed a new IPO last year, which could see the brand list in Milan in 2024.
The offering, which is said to be one of the most anticipated in Europe, is set to value the luxury sneaker business at around £2.5bn.
Permira, which acquired the footwear brand for €1.28bn (£1.07bn) in 2020, also owns Dr Martens and Reformation.
Silvio Campara, CEO of Golden Goose Group, said: “Our strong performance in 2023 – growing double digits against a challenging macroeconomic backdrop – once again demonstrates the power of our brand and the value of our people who are essential to building our long-term and sustainable vision.
“Consumers are looking to connect with more than just a luxury product, they want a business that reflects their values and to be part of a community. At Golden, we are pursuing a unique strategy, expanding our co-creation experiences and repairing products from any brand, as we celebrate everyone’s story and uniqueness.”
