Strong DTC growth boosts Golden Goose revenues by 12 percent

Golden Goose net revenues for the nine month period of 466 million euros, increased by 12 percent driven by 18 percent growth in DTC revenues to 346.1 million euros. Revenues in the third quarter also increased by 12 percent.

DTC channel witnessed 37 percent increase in EMEA and 14 percent in the Americas. The company said that in DTC, retail was the main contributor to growth with a 20 percent increase due to new openings and mid-single digit like-for-like performance.

Commenting on the company’s trading update, Silvio Campara, chief executive officer of Golden Goose Group, said in a statement: “Our performance today shows the power of our determination, innovation, and ambition. 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 centre.”

The company’s wholesale channel achieved net revenues of 110.4 million euros during the nine months, a 4 percent decline year-on-year, as a result of the strategic decision to continue upgrading the quality of the distribution network and the continued focus on keeping the channel clean, preserving the brand, and favouring DTC.

In terms of geographies, EMEA accounted for 49 percent of net revenues in the period, Americas accounted for 38 percent, and APAC accounted for 13 percent.