As the company prepares for potential IPO, former Gucci CEO brings expertise to Golden Goose’s strategic board
Golden Goose has announced a robust start to the year with first-quarter revenues rising 11 percent, alongside strategic boardroom enhancements, as former Gucci President and CEO Marco Bizzarri joins its board of directors. This move comes at a pivotal time for the Italian luxury brand, known for its distinctive footwear, as it positions itself for an expected initial public offering.
The company, which has not disclosed specific dates for the IPO, reported that its revenue growth was particularly strong in the Europe, Middle East and Africa region, as well as the Americas. The first quarter saw revenues reaching 148 million euros, a substantial increase from the same period in 2023. Adjusted for constant exchange rates, sales saw a growth of 12 percent.
Silvio Campara, CEO of Golden Goose Group, highlighted the value Bizzarri will add to the brand, noting his “world class expertise and visionary approach to reinventing luxury are unprecedented. I am sure he will give a timeless contribution to the brand.” Bizzarri himself expressed enthusiasm about joining Golden Goose, remarking, “I have been following the successful story of Golden Goose over the past 10 years, and I’m impressed with the unique culture, products, and community they’ve been able to build on a global scale.”
The direct-to-consumer sales channel also showed significant strength, growing 18 percent, driven by robust performances in key regions. At constant exchange rates, this channel’s revenue was up 20 percent. By the end of 2023, Golden Goose had expanded its retail presence to 191 stores, having opened 21 new locations during the year.
Financially, the company has continued to perform well, with sales in 2023 totaling 587 million euros, an 18 percent increase from the previous year. Adjusted earnings before interest, taxes, depreciation, and amortization rose 19 percent to 200 million euros, while adjusted operating profit climbed 22 percent to 149 million euros.
Beyond its corporate achievements, Golden Goose is actively engaging in cultural initiatives. Over the weekend, the brand unveiled its latest Haus of Dreamers in Marghera, Italy. This cultural hub aims to elevate the brand’s global presence, having hosted events in cities like Paris and Los Angeles since its inception in May of the previous year.
Marco Bizzarri, who left Gucci in September last year, has been diversifying his professional activities, engaging in investments and advisory roles across the fashion and design industries. His involvement with Golden Goose marks a significant addition to the company’s strategic direction as it navigates potential market expansions and financial initiatives.
This strategic reshuffle, including Bizzarri’s board appointment and ongoing global expansion, underscores Golden Goose’s commitment to growth and innovation as it continues to strengthen its market position and prepare for future financial endeavors.