May 4, 2022
Strong revenue growth of 45% YoY and 46% on 2019
Online sales growth of 328% in last two years
Double digit sales growth in every geography
Golden Goose S.p.A. (“Golden Goose”) has announced its full-year results for the 12 months ended 31 December 2021. Golden Goose recorded net revenue of €385.6 million in 2021, up 45% compared to 2020 and 46% compared to 2019. Growth was driven by the continued focus on the consumer omnichannel experience and development of the direct-to-consumer (DTC) strategy.
The positive performance for the year across all geographies confirms a return to strong growth momentum following the severe disruption to retail and supply chains resulting from COVID-19 restrictions.
Commenting on the results, Silvio Campara, CEO of Golden Goose, said: “Our strategy of creating long-term value instead of short-term results has paid off and you can see that in our results – healthy profitability, positive cash generation and a strong sense of purpose. Our focus is on expansion across all geographies, in our DTC channels and online, with strong growth globally. The 46% sales growth on 2019 demonstrates the strength and resilience of our strategy.
“We believe our strength lies in our obsession with the end consumer, their engagement, their experience and delivering a high-quality, luxury product. That connection with our customers, the Golden Family, is at the heart of our performance, and we’re continuing to cultivate that global community. Everything we achieved in 2021 was made possible by our exceptional team, who remained connected to our customers and continued to inspire dreams despite the disruption caused by the pandemic. We entered 2022 with confidence to further strengthen Golden Goose’s position in the global luxury market.”
The Americas saw a sharp sales increase throughout the year and reached €148.9 million, up 74% from 2020 and up 111% from 2019. The strong brand momentum in the region accelerated throughout the year, driven by the focus on DTC channels.
EMEA revenues stood at €145.6 million, up 37% from 2020 and 24% vs 2019, driven mainly by solid growth in DTC channels.
Asia Pacific sales, impacted by prolonged restrictions related to the pandemic, experienced a solid rebound in 2021. Revenues stood at €85.9 million, up 21% from 2020 and 17% from 2019.
The retail channel achieved revenues of €163.1 million in the period, up 79% from 2021, an excellent performance driven by the acceleration of sales in the Americas and EMEA regions.
Direct e-commerce, marketplaces and e-concessions fuelled the continued strong performance in digital channels. Digital channel revenue was up 109% from 2020 and up 328% from 2019. The channel now accounts for 17% of total sales.
2021 was a crucial year to define the sense of purpose of the company. In Q1 2022, Golden Goose announced its dedication to a brighter future for the next generations, pivoting around four main priorities: innovation; responsible sourcing & manufacturing; enhancing diversity; engaging and giving back to communities. The company also set 10 clear-cut goals of its sustainability plan, the Forward Agenda, to meet by 2025.
On Earth Day, 22 April 2022, Golden Goose announced its partnership with Coronet to launch the first Made-in-Italy co-action platform for sustainable innovation, which will go live at the end of 2022. The aim is to create innovations and provide positive social and economic impact, whilst maintaining the lowest environmental footprint. This partnership will allow continuous testing phases, directly verifying the results on the Golden Goose products, collecting consumers’ feedback, and subsequently making the innovations available for luxury players. As a first result of this partnership, on Earth Day, Golden Goose launched Yatay Model 1B – a sneaker which combines craftsmanship, sustainable innovation and vision. Entirely Made in Italy and crafted with animal-free materials, this gender-neutral sneaker is made of YatayTM B, a bio-based material derived from vegetable sources and components including recycled polyester and biodegradable rubber. The use of YatayTM B reduces CO2 emissions by 90% and water usage by 65% compared to leather.
Encouraged by its strong performance in 2021 and through COVID, Golden Goose has confidence for the year ahead. Golden Goose will continue to pursue a strategy focused on developing its brand, developing its DTC and digital channels and its consumers. Enhancing the consumer experience remains a key target for the business, building on the Co-Creation Experience to further integrate consumers into the Golden Goose community.
ENDS
Analyst and investor enquiries
James Olley / Woolf Thomson Jones
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Notes to editors
Born in 2000, in just a few years Golden Goose has become one of the most successful independent Italian brands of the last decade. Relying solely on Italian artisanal manufacturing, it has managed to make innovation and quality part of its recognisable traits. Golden Goose has an evenly distributed global footprint covering Asia, Europe, Middle East and America, with over 160 direct retail stores and strong online and wholesale distribution.
Please find below the link to download the FY 2021 Annual Financial Report
If you have any questions please contact the investor relations team at investors@goldengoose.com