Golden Goose ended its 2022 year up 30% year-over-year. The Veneto-based brand of sneakers and clothing totaled revenues of 501 million euros in the fiscal year, up 88% on 2020. The performance was mainly driven by the Americas and the EMEA area, in addition to the progressive expansion of the direct-to-consumer channel , now representing 70% of total sales.
The American market, specifically, was the “largest and fastest growing”, with an increase in terms of sales, which stood at 230.4 million euros, by 55% compared to 2021; the EMEA area, on the other hand, recorded a growth of 33% compared to the previous year, with revenues of 193.1 million euros driven by both the retail and digital channels, “thanks to solid internal demand”.
Asia-Pacific was down, with revenues down by 4% to 82.4 million euros “due to the strategic consolidation of the wholesale customer portfolio”, completed in 2022. The direct-to-consumer channel, on the other hand, grew by 10%, showing signs of recovery, underlines the company, after the progressive easing of the anti-Covid restrictions.
Openly pleased with the CEO Silvio Campara, who comments in the margins of the financial results: “The incredible results we achieved in 2022 demonstrate the value of our team in building a long-term and sustainable vision. In 2023 we will continue to build on our successes through the launch of new products, new places to connect with communities and an innovative platform to celebrate them”.
In the fourth quarter of 2022 Golden Goose has acquired its main supplier Italian Fashion Teamfrom the founder and CEO Michele Zonno and by his family, thus internalising 40% of its production. A significant move which, the player anticipates, “will allow the group to increase production capacity for the next phase of growth”, overseeing a large portion of its supply chain.
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