Italian shoe brand attributes success to direct-to-consumer channel
- Golden Goose revenues rise 18% in FY23
- Adjusted EBITDA increases by 19% on FY22
- Growth across all regions driven by direct-to-consumer channel
- 21 new stores opened in 2023, bringing total to 191 globally
- Golden Goose IPO expected in 2024, valuing the brand at £2.5bn
Italian shoe brand Golden Goose has experienced an 18% rise in net revenues to €587m (£500m) for the year ended 31 December 2023 ahead of its IPO this year. The group also reported a 19% increase in adjusted EBITDA to €200m (£170m) compared to FY22. The retailer attributes its strong performance to growth across all regions, driven by the direct-to-consumer channel. Golden Goose expanded its store network by opening 21 new stores in 2023, bringing the total to 191 globally. The brand’s owner, Permira, filed for an IPO last year, with the offering expected to value Golden Goose at around £2.5bn. The IPO is set to take place in Milan in 2024. Permira, which acquired Golden Goose in 2020, also owns Dr Martens and Reformation. Silvio Campara, CEO of Golden Goose Group, highlighted the brand’s unique strategy of co-creation experiences and product repairs, emphasizing the importance of connecting with consumers on a deeper level.
Factuality Level: 9
Factuality Justification: The article provides specific and verifiable information about Golden Goose’s financial performance, attributing it to growth in various regions and the direct-to-consumer channel. The details about adjusted EBITDA, store openings, and the upcoming IPO are all clearly stated without any bias or misleading information. The quotes from the CEO add context to the company’s strategy and vision.
Noise Level: 3
Noise Justification: The article provides relevant information about the financial performance of Golden Goose, including revenue and EBITDA growth, store expansion, and upcoming IPO. It stays on topic and supports its claims with specific data and quotes from the CEO. However, it lacks in-depth analysis, accountability of powerful people, or exploration of consequences. Overall, the article is focused and informative but lacks deeper insights.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets may be impacted by the IPO of Golden Goose, as it could attract investor attention and potentially affect the valuation of the luxury sneaker business. Companies impacted include Permira, the owner of Golden Goose, Dr Martens, and Reformation.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the financial performance of Golden Goose and its upcoming IPO, indicating its relevance to financial topics. There is no mention of any extreme events.
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