Golden goose confirms its positive moment in the luxury: the Venetian brand known for high-end sneakers, clothing and accessories closes the first semester 2025 with solid revenue and EBITDA growth, strengthening its global presence through the expansion of its direct stores and its innovative direct-to-consumer channel. Despite the postponement of the IPO, the company continues to consolidate its strategy and enhance the relationship with consumers.
Golden Goose: First-Half 2025 Results
The Venetian brand closed the first half of 2025 with revenues Net revenues amounted to €342,1 million, up 13% compared to the same period last year. Growth intensified in the second quarter, with revenues up 14% year-on-year, compared to +12% in the first quarter.adjusted ebitda rose by 3% to 113 million, with a margin of 33%. The half-year closed with a cash position di 126 million euros and a net leverage down to 2,4x, from 2,5x at the end of the first quarter.
The direct sales channel grows with 10 new openings
Geographically, all areas recorded positive signs: Europe e Middle East lead the growth with +18% on an annual basis (and +26% in the direct-to-consumer channel), followed by Asia-Pacific (+ 9%) and United States (+8%). The channel direct-to-consumer it is confirmed as strategic, with sales up 19% compared to the first half of 2024, and now represents 77% of the total business, up from 73% in the same period of the previous year.
The network of shops direct has been further strengthened, reaching 225 stores at the end of the semester, with 10 new openings including Hyundai Jungdong, Singapore Paragon, Manila, Ibiza, Venice Airport, and a dedicated kids' store in Dubai. The brand has also developed innovative concepts like the Golden “Pescheria”, a seasonal pop-up inspired by Mediterranean fishing villages, replicated in Forte dei Marmi and the Hamptons, in the United States.
Golden Goose: Is an IPO still in sight?
The group, controlled by the private equity fund Permira, had initially foreseen the quotation at Piazza Affari in the summer 2024, then postponed. In May, the CEO Silvio Campara confirmed that Golden Goose continues to look at the Italian stock markets, "but it's not the right time yet”. During the Luxury Summit of the Sun 24 Hours, he explained: “The listing project remains fully valid, but now we want to focus above all on relationships with our consumers. We will enhance our asset when appropriate.” In January 2025, Blue Pool CapitalThe family office founded in Hong Kong by Alibaba founder Tsai has entered the capital of the Venetian group with a stake of minority of 12%.
Comments
“In a complex macroeconomic environment, our performance in the first half of 2025 remains resilient, reflecting the continued global resonance of the Golden Goose brand among its communities,” commented the CEO. Bell We achieved double-digit and high-single-digit growth across all regions, expanding our presence with 10 new innovative store openings in strategic cultural locations. These results confirm the strength of the brand, our excellent innovation-driven DTC strategy, and our ever-expanding co-creation efforts.
