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Golden Goose’s net revenues up 12% in first quarter
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MILAN (Reuters) – Italy’s Golden Goose said on Tuesday its net revenues rose 12% at constant exchange rates in the first quarter while maintaining “strong margins”, as the luxury sneaker maker prepares for a likely initial public offering in Milan.
MILAN (Reuters) – Italy’s Golden Goose said on Tuesday its net revenues rose 12% at constant exchange rates in the first quarter while maintaining “strong margins”, as the luxury sneaker maker prepares for a likely initial public offering in Milan.
The group, which is majority-owned by private equity firm Permira, added that sales in the direct-to-consumer channel grew 20%.
Golden Goose, which sells sneakers with a five-point star on the side priced at around 500 euros ($532) a pair, added that it appointed former Gucci Chief Executive Marco Bizzarri as a board member.
There was no update on the timing of its likely IPO.
It picked Bank of America, Mediobanca, JPMorgan and UBS as joint global coordinators for a planned listing in Milan in 2024, two sources close to the matter told Reuters in December.
($1 = 0.9389 euros)
(Reporting by Elisa Anzolin; Editing by Keith Weir)
Net revenue is the total income generated by a company from its business activities, minus any costs associated with returns, allowances, and discounts.
An initial public offering (IPO) is the process through which a private company offers shares to the public for the first time, allowing it to raise capital from public investors.
Direct-to-consumer sales refer to a retail model where companies sell their products directly to consumers, bypassing traditional distribution channels like wholesalers or retailers.
A board member is an individual who is part of a company's board of directors, responsible for overseeing the company's management and making strategic decisions.
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