MILAN — The expansion of direct-to-consumer sales and investments in consumer experience contributed to a solid growth of Golden Goose across geographies in the primary nine months of the yr.

Revenues of the Italian brand rose 19 percent to 421 million euros within the period ended Sept. 30. Compared with 2021, sales climbed 60 percent. Within the third quarter of 2023, revenues were up 16 percent to 144.6 million euros compared with the identical period last yr.

Profitability continued to grow with the earnings before interest, taxes, depreciation and amortization margin rising to 34.8 percent. Within the third quarter, the adjusted EBITDA increased by 18 percent year-on-year.

“Our performance today shows the facility of our determination, innovation and ambition,” said chief executive officer Silvio Campara. “In the primary nine months of 2023, we’ve opened latest stores all over the world and continued to interact with our global community in latest ways through initiatives akin to the Haus of Dreamers. Against a backdrop of well-documented headwinds, the Golden Goose brand and community have really shown their resilience and are what’s going to carry us from strength to strength in the long run.”

Compared with the primary nine months of 2022, sales within the Americas rose 7 percent, accounting for 40 percent of the full. Revenues within the Europe, Middle East and Africa region climbed 27 percent, representing 43 percent of the full, and sales in Asia Pacific were up 9 percent, accounting for 17 percent of the full.

The direct-to-consumer expansion continued and, as of Sept. 30, accounted for 69 percent of total sales. The retail channel has grown in all regions, driven by an outperformance of the EMEA market and reaching 55 percent of sales.

The digital channel accounts for 16 percent and wholesale for 29 percent of the full.

As reported, last month, during through the WWD x SKP Fashion & Beauty Global Summit in Chengdu, China, Campara said that “today it’s about giving voices to a whole lot of people, which we commonly call communities, but inside a framework of values,” speaking of the brand’s luxury proposition, which focuses on the commitment to innovation, the valuation of craft, take care of people and engagement with communities.

The corporate’s leverage has been reduced to 2.6 times, despite a recent supply chain insourcing.

Earlier this month, the group reached an agreement to take full control of Sirio, certainly one of its footwear suppliers, after acquiring a 30 percent stake in the corporate in 2022, leading key manufacturing competences to be insourced, promoting the expansion of the following generation of artisans.

Campara has long voiced the brand’s commitment to its handmade and artisanal tradition and within the fourth quarter last yr, the corporate continued to speculate in its vertical integration by acquiring its major supplier, Italian Fashion Team.

With this investment, about 40 percent of Golden Goose’s total production was to be brought in-house and produced by local talent in Apulia’s Salento footwear district. It also allowed the corporate to scale up production capability for the following phase of growth and to oversee a big portion of the availability chain to make sure efficiency, sustainability, responsibility and transparency.

An academy will open next April in the corporate’s birthplace of Venice. 

The corporate on Wednesday declined to offer information or a comment a couple of potential sale or an initial public offering, although market sources in Milan say Golden Goose has tapped Lazard as an adviser. The Permira-owned Golden Goose is viewed by many as a possible IPO candidate.

Campara, who joined the corporate as industrial director in 2013 and has now grow to be a major shareholder, is open to the thought of taking the company public, he said in Chengdu. “We have now all the time been owned by an investment fund, so technically, the connection between dreaming and executing has all the time been quite strong and well executed,” Campara offered. “By going public, it’ll be simply to make this dream part available to a much bigger audience.”

Earlier this yr, Golden Goose expanded its footwear repair, remake, resell and recycling program Forward Stores, launched in 2022 and applicable to products from any brand, to its e-commerce platform. “Our idea is that Golden Goose might be the following Levi’s 501, the following Ray-Ban, it might probably be the product that you just never throw out, you never resell, because there is just too much of you to be given away,” the CEO said on the summit. He also revealed that the posh shoemaker already reached 600 million euros in sales this yr. Greater than 12 million pairs of Golden Goose sneakers have been sold up to now 10 years.

Currently, 196 Golden Goose stores, or 80 percent of its retail network, have repairing capability. The corporate can be opening two latest factories, one in Venice and one within the U.S., to expand its shoe repair program.

In September, the brand celebrated the reopening of its Paris flagship store on Rue des Saints-Pères, after a renovation that expanded the shop to 4,000 square feet, with 10 expansive windows and a repair bar. It also brought its Haus of Dreamers, an all-encompassing cultural concept, to Paris Fashion Week, staging a series of mini-takeovers within the French capital. It was first introduced in Venice in May and has helped heighten global brand awareness.

The corporate has been engaging with its community also through the Haus of Dreamers events, based on the Haus creative global platform. At the top of August, it presented the fourth collection, Dreamed By, with K-pop artist Sunmi, comprising 25 Venetian masks embellished with Swarovski crystals. A capsule included a loose polo with “Run After Your Dreams” spelled out on the back, and Marathon sneakers with a silver ripstop, red glittering details and Lurex laces.

Haus of Dreamers collections have also been launched with Suki Waterhouse, Quannah Chasinghorse, Dr. Woo and Fabio Novembre.

Golden Goose will proceed its cultural drive with the opening of the Haus concept in Marghera, outside of Venice, which is able to open its doors in May through the Art Biennale.

The brand was established in 2000 and is best known for its successful Superstar sneakers and intentionally distressed styles. In 2020, the corporate was acquired by the private equity fund Permira from the Carlyle Europe Buyout fund. The worth tag was pegged at 1.28 billion euros.