MILAN — Strong growth of online sales and an outstanding performance in the Americas propelled Golden Goose’s 2021 revenues, which jumped 45% to 385.6 million euros, representing a 46% improvement versus 2019.
The brand, best known for its Superstar sneaker, cited an acceleration in its direct-to-consumer operations and reported that its online sales climbed 328% compared to 2019. Last year, Golden Goose shifted its wholesale business model to hybrid concessions, further signaling its intent on being closer to its consumers.
“Our strategy of creating long-term value instead of short-term results has paid off and you can see that in our results — healthy profitability, positive cash generation and a strong sense of purpose. Our focus is on expansion across all geographies, in our d-to-c channels and online, with strong growth globally,” said CEO Silvio Campara.
“We believe our strength lies in our obsession with the end consumer, their engagement, their experience and delivering a high-quality, luxury product. That connection with our customers, the Golden family, is at the heart of our performance, and we’re continuing to cultivate that global community,” he offered.
The Golden Goose community sits at the core of the brand’s responsibility plan until 2025 called Forward Agenda and unveiled in March. It is centered on four key pillars including innovation, exalting craft, care for people and engagement with communities.
In the 12 months to December 2021, revenues in the Americas were driven by direct-to-consumer operations and jumped 74% compared to 2020 and 111% versus 2019, while sales in Europe, the Middle East and Africa climbed 37% versus 2020. In spite of multiple lockdowns, like-for-like revenues in the Asia Pacific region increased 21%.
“Everything we achieved in 2021 was made possible by our exceptional team, who remained connected to our customers and continued to inspire dreams despite the disruption caused by the pandemic,” Campara offered. “We entered 2022 with confidence to further strengthen Golden Goose’s position in the global luxury market.”
In 2020, the brand was acquired by private equity fund Permira from the Carlyle Europe Buyout fund with a price tag pegged at 1.28 billion euros.
This story was reported by WWD and originally appeared on WWD.com.