Finance
IPO candidate Golden Goose posts 12% increase in sales
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MILAN (Reuters) – Italian luxury sneaker brand Golden Goose said on Thursday its net revenues rose 12% at constant exchange rates in the first nine months of the year, helped by new openings.
MILAN (Reuters) – Italian luxury sneaker brand Golden Goose said on Thursday its net revenues rose 12% at constant exchange rates in the first nine months of the year, helped by new openings.
In the third quarter alone revenues also grew by 12%.
“Against a backdrop of headwinds in the luxury sector, we are committed to sustaining our momentum by enhancing the shift from marketing to experience by putting our customers and community at the centre”, said Chief Executive Officer Silvio Campara in a statement.
Golden Goose, which is controlled by private equity firm Permira, shelved its initial public offering in June. At that time the group said it would reassess the IPO in due course.
(Reporting by Elisa Anzolin; Editing by Keith Weir)
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.
Net revenues refer to the total income generated from sales after deducting returns, allowances, and discounts. It reflects the actual earnings of a company from its core business operations.
Private equity refers to investment funds that acquire equity ownership in private companies or public companies that are taken private, often to restructure and improve their operations before selling them for a profit.
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