On November 27, Italian luxury sneaker brand Golden Goose released key financial data for the first nine months of fiscal year 2025, ending September 30. Net revenue grew 13% year-on-year to €517 million (approx. USD 561 million), with the Asia-Pacific market increasing by 15%.
During the period, the brand maintained steady revenue growth, with Direct-to-Consumer (DTC) business accelerating in Q3. DTC net revenue rose 21% year-on-year, accounting for 79% of total net revenue. Growth was driven by new store openings and strong double-digit same-store sales.
Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 7% year-on-year to €173.6 million (approx. USD 188.3 million), with an EBITDA margin of 33.6%. The EBITDA margin in Q3 2025 improved compared to the same period in 2024.
All regions delivered double-digit growth. The EMEA (Europe, Middle East, and Africa) and APAC (Asia-Pacific) markets each grew by 15%, while the Americas recorded a 10% increase.
Golden Goose CEO Silvio Campara stated, “Golden Goose delivered strong double-digit growth across all regions, once again demonstrating the resilience of our business model and the global appeal of our brand. Driven by another leap in our DTC channel, we achieved consistent quarterly profitability growth. We continue to expand the brand’s boundaries through unique store openings (from Tokyo to Chengdu), revitalizing iconic lines like Super-Star with influential ambassadors, launching new sneaker models, and unveiling the Golden Goose Arena in Milan—a space that blends sport, culture, and community. Looking ahead, Golden Goose is fully prepared to elevate Co-Creation to new heights and deepen connections with our growing Golden community. As always, I extend my heartfelt thanks to our Golden family, who make all of this possible.”
This month, Golden Goose announced a collaboration with Google Pixel and the Google Gemini AI platform, adding high-tech digital elements to its Co-Creation program. With Google’s support, consumers can use Google Pixel devices to interact with the Gemini AI platform to receive design inspiration and suggestions for co-created sneakers. The AI tool will generate digital renderings, which Golden Goose artisans will then transform into personalized physical products.
Golden Goose also highlighted its strong liquidity and leverage levels. As of September 30, 2025, the company had cash reserves of €92 million (approx. USD 99.8 million) and a net leverage ratio of 2.7x.
Key operational highlights during the reporting period include:
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DTC remained the key growth engine, with year-on-year growth of 24% in the EMEA region and 18% in both the Americas and Asia-Pacific;
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The store network continued to expand. By the end of the third quarter, the group operated 227 Directly Operated Stores (DOS) globally, with a net increase of 12 stores since the beginning of the year.
To further drive brand development and enhance engagement with the Golden Goose community, the group implemented several initiatives, including:
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Opening the Golden Goose Arena in Milan, designed by Novembre Studio. Located in the heart of the CityLife district, the arena redefines the sports experience through community interaction and wellness concepts. It features nine padel courts and immersive facilities;
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Expanding presence in the sports world: tennis stars Jasmine Paolini and Zizou Bergs, as well as padel legends Marta Ortega and Juan Lebrón, joined as global brand ambassadors;
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On the product side, the brand launched a campaign centered on the iconic Super-Star sneakers, featuring legendary actress Jane Fonda, and released the new True-Star collection in collaboration with tennis player Jasmine Paolini.
Golden Goose also shared its latest progress in sustainability initiatives:
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Its store in Terminal 1 of Rome Fiumicino Airport received LEED® Gold certification, marking the group’s first such recognition and underscoring its commitment to sustainability and human-centric space design;
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In the 2025 ESG ratings by Sustainalytics, Golden Goose ranked first in the global footwear sector for the second consecutive year and placed fifth among 187 textile and apparel companies. The group was also included in Sustainalytics’ list of 2025 ESG Industry Top Rated companies;
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The group expanded its European and international GEEIS (Gender Equality European & International Standard) certification to its headquarters and stores across the EMEA, Americas, Asia-Pacific, and South Korea, highlighting Golden Goose’s ongoing global efforts to foster an inclusive and equitable environment.
｜Source: Official financial report, official press release, Luxe.CO archives
｜Image Credit: Brand official website
｜Editor: LeZhi
