Golden Goose Looks to Grow Business Beyond Sneakers — Retail Bum

Italian luxury sneaker brand Golden Goose is looking to expand its business beyond its core product range, following a 30% increase in revenue last year.

“We will keep on innovating our business, which is sneakers, but there will be something out of sneakers that is ready to be launched on the market,” said CEO Silvio Campara.

Last year, the brand generated €501 million in revenue, driven by growth in the Americas and its retail and online channels. The company saw a 55% increase in sales in the Americas, while sales rose by nearly 33% in the EMEA region.

“This year started very well through all the geographies,” Campara said.
The company expects to grow its market share by 5% to 6% in the next three years, significantly lower than its key competitors, according to Reuters. It has set a goal of opening 20 new store locations in 2023, keeping up with the pace of store openings last year.

Golden Goose, known for designing sneakers with a five-point star on the side, was bought by private equity firm Permira in 2020 for $1.3 billion.
Post-acquisition, the company acquired its supplier Italian Fashion Team to strengthen its supply chain, bringing 40% of its production in-house.

“What we did last year is not going to be the last one… for sure we have other acquisitions in the pipeline,” Campara said.

Originally published at https://retailbum.com on April 5, 2023.