Golden Goose nine-month revenue rises 16% as direct sales climb 21%

Golden Goose lifted revenue 16% to €583.3 million in the nine months to 30 September, against €517.1 million a year earlier, with all figures at constant exchange rates. Its direct-to-consumer channel climbed 21% and now delivers 82% of the total, or €479.9 million.

The third quarter alone rose 17% to €203 million. Even the wholesale channel strengthened, up 8% in the quarter, while chief executive Silvio Campara said luxury consumers are becoming increasingly selective but still respond to the brand's approach.

Golden Goose, the Italian label founded in 2000, is best known for its Super-Star sneakers and intentionally distressed styles, though the range has grown to include apparel and accessories. All three regions grew by double digits over the period.

Sales in the Americas climbed 18%, lifted by a 21% rise in DTC. Europe, Middle East and Africa advanced 17%, boosted by a 23% DTC increase, while Asia-Pacific rose 12% on a 14% DTC gain. Few in the industry have posted solid European gains.

Adjusted EBITDA rose 12% to €194.3 million, a margin of 33.3% on sales. Gross margin totalled €446.2 million, up 14%, a ratio of 76.5%. Adjusted operating cash flow amounted to €91.4 million, up 30% on the same period last year.

Stores and community as the growth engine

Golden Goose opened 10 stores in the nine months, including in Kuala Lumpur, Athens and Istanbul, taking the network to 236. Campara tied the performance to an approach rooted in the brand's unique identity rather than to any single product.

"Our performance in the first nine months of 2026 reflects the continued strength of Golden Goose's business model and brand," Campara said. "At a time when luxury consumers are becoming increasingly selective, it is clear that our unique approach, rooted in authenticity, craftsmanship and co-creation, continues to resonate."

He framed the stores as "destinations where people come together, connect and create." That ambition has a name. In April Campara told WWD he was putting authentic human relations at the centre of his next project for the brand, Arts & Crafts.

Arts & Crafts is a global programme of workshops celebrating the making of objects by hand, adding entertainment to the experience and turning stores into places to gather and make products. In Milan in September the brand held clay workshops with specialised artisans.

A new Haus opened in Istanbul's Tersane District during Contemporary Istanbul, and Golden Kids, a new format of in-store events, was introduced in Dubai and Istanbul. Campara said the stores strengthen the connection with the brand's community of Dreamers around the world.

In October last year the company opened a multicourt padel centre in Milan, in step with its community-driven approach. It has now carried the idea into China with the Xi'an SKP Arena, covering almost 18,000 square feet with two open-air padel courts, gym areas inside and out, wellness rooms, a shop and a café.

Sport, Disney and the road ahead

The community strategy leans on sport. In September Golden Goose named Swiss tennis player Belinda Bencic global brand ambassador for 2026-2027, following padel aces Marta Ortega, Juan Lebrón and Arturo Coello. Last month it launched a Mickey & Friends collection with Disney, a first collaboration of this kind.

"As we look ahead, we remain confident in our strategy by continuing delivering sustainable long-term growth, focusing on craftsmanship, creativity and co-creation, preserving the unique identity that define Golden Goose," Campara concluded. The company gave no numerical guidance for the full year.

Across the nine-month reports we have tracked, Moncler grew 6% at constant rates, Prada Group 12%, and Brunello Cucinelli 10% before raising its year forecast to 12%. Golden Goose's 16% is above each of those, on its own reporting basis.

Wholesale is the contrast. Zalando's B2B business surged 28% in the third quarter and Jimmy Choo gained 11.5% at Capri, yet Golden Goose drew only 8% growth from wholesale, because 82% of its revenue already passes through its own channel.

That mix means the selective consumer Campara describes is met by workshops, padel courts and events rather than third-party counters. The Xi'an arena, the first padel venue the group has opened in China, will test whether the model travels beyond Milan.

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