# Italy’s Golden Goose to spread its wings beyond sneakers Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-04-04 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Golden Goose Reports 30% Revenue Growth, Eyes Expansion Meta Description: Discover how Golden Goose plans to expand beyond sneakers while maintaining customer trust with minimal price increases and strategic acquisitions. URL: https://financedigest.com/italys-golden-goose-to-spread-its-wings-beyond-sneakershtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-04-04t102139z1lynxmpej330c9rtroptp4golden-goose-results-ceo-1736814197200-compressed.jpg) By Elisa Anzolin MILAN (Reuters) – Italian luxury sneaker brand Golden Goose reported a 30% rise in revenues last [year](https://www.financedigest.com/car-sales-push-irish-retail-sales-sharply-higher-again.html) and sees scope for further growth by expanding beyond its core product range, Chief Executive Silvio Campara told Reuters. “We will keep on innovating our business, which is sneakers, but there will be something out of sneakers that is ready to be launched on the market,” CEO Silvio Campara told Reuters. Campara would not be drawn on the new product range. [Golden](https://www.financedigest.com/sneaker-maker-golden-goose-aims-to-list-in-milan-in-june.html) Goose’s sneakers, with a five-point star on the side, are [priced at over 400 euros](https://www.financedigest.com/carrefour-unveils-30-euro-shopping-basket-in-spain-after-government-price-cut-proposal.html "Carrefour unveils 30 euro shopping basket in Spain after government price cut proposal") ($437) a pair. Golden Goose has already diversified in recent years to sell clothing and accessories, with a focus on leather goods. The group reported on Tuesday revenues of 501 [million euros](https://www.financedigest.com/germanys-merck-to-invest-300-million-euros-in-us-gas-plant.html "Germany’s Merck to invest 300 million euros in US gas plant") for 2022, boosted by strong growth in the Americas, the retail and online channels. The Americas was the group’s fastest growing market last year, with a 55% [sales jump](https://www.financedigest.com/indias-tata-motors-jumps-to-a-7-month-high-on-strong-q4-jlr-sales.html "India’s Tata Motors jumps to a 7-month high on strong Q4 JLR sales"), followed by the EMEA region where sales rose by a third. [Momentum has been maintained](https://www.financedigest.com/fintechs-should-accelerate-into-edge-computing-to-maintain-momentum.html "Fintechs should accelerate into edge computing to maintain momentum"). “This year started very well through all the geographies,” Campara said. He added he was confident that the [group could increase its market share](https://www.financedigest.com/saipem-shares-drop-group-says-cannot-explain-why.html "Saipem shares drop, group says cannot explain why"), as Golden Goose only slightly raised its prices, with a total average increase of 5% to 6% in three years, much less than its competitors. This helped Golden Goose to build a big [trust with the customers,”](https://www.financedigest.com/how-to-maintain-customer-loyalty-and-trust-in-the-face-of-a-pandemic-and-digital-competition.html "How to maintain customer loyalty and trust in the face of a pandemic and digital competition") he said. The sneaker maker is planning to [open another 20 new stores this year](https://www.financedigest.com/four-years-of-open-banking-2022-may-be-the-best-year-yet.html "Four years of Open Banking: 2022 may be the best year yet "), a similar pace to the year before, Campara said. Golden Goose was acquired by [private equity](https://www.financedigest.com/4-trends-that-will-have-a-major-impact-on-private-equity-in-2021.html "4 Trends that will have a major impact on private equity in 2021") firm Permira from rival Carlyle in 2020 and the group was valued at 1.3 billion euros, sources said at the time. Last [year the group bought its top](https://www.financedigest.com/2017-cfo-outlook-top-priorities-as-new-year-gets-underway.html "2017 CFO Outlook: Top Priorities as New Year Gets Underway") supplier Italian Fashion Team, bringing in-house roughly 40% of its production, and could keep on strengthening its supply chain. What we did last [year](https://www.financedigest.com/over-50-of-businesses-increased-their-cyber-security-budget-last-year-amid-attacks.html "Over 50% of businesses increased their cyber security budget last year amid attacks") is not going to be the last one… for sure we have other acquisitions in the pipeline,” Campara said, referring to the [supply chain](https://www.financedigest.com/g7-finance-leaders-pledge-financial-stability-supply-chain-diversity.html "G7 finance leaders pledge financial stability, supply chain diversity"). He said that this allowed the company to be flexible, to adapt to good and [bad times and to secure skilled people](https://www.financedigest.com/55-of-people-who-regularly-play-sport-dont-think-being-verbally-abusive-to-another-player-makes-them-a-bad-sport.html "55% OF PEOPLE WHO REGULARLY PLAY SPORT DON’T THINK BEING VERBALLY ABUSIVE TO ANOTHER PLAYER MAKES THEM A BAD SPORT") “which are very hard to find these days”, Campara said. ($1 = 0.9154 euros) (Reporting by Elisa Anzolin; Editing by Keith Weir) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---