In the first nine months of 2024, Golden Goose’s net revenues rose by 12 percent at constant exchange rates to €466 million, driven by direct-to-consumer (DTC) sales and the Europe, Middle East and Africa (EMEA) business region. The premium Italian sneaker brand achieved 49 percent of its revenues in EMEA, 38 percent in the Americas and 13 percent in Asia-Pacific.
Sales in the sole third quarter also grew by 12 percent, in line with the first half of the year.
DTC sales increased by a currency-neutral 18 percent in the nine-month period to €346.1 million, accounting for 74 percent of total revenues. DTC sales surged by 37 percent in EMEA and by 14 percent in the Americas. DTC sales were underpinned by the brand’s retail channel, up by 20 percent at constant exchange rates, thanks to new store openings and a mid-single growth rate in like-for-like sales. The brand has over 200 stores in the Americas, Europe, the Middle East and Asia-Pacific.
In the wholesale channel, the top line dropped by a currency-neutral 4 percent to €110.4 million due to the company’s 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.”
Golden Goose’s Chief Executive Officer, Silvio Campara, added that “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.”
