Golden Goose Reports Robust H1 Performance Despite Shelved IPO Plans business, fashion, fashion news

Italian luxury sneaker manufacturer Golden Goose announced a 12% increase in adjusted core profit for the first half of the year, reaching €109.2 million (US$120.57 million). This positive financial performance was driven by continued growth in net revenues, which rose 12% at constant exchange rates to €307 million.

The European, Middle Eastern, and African markets proved particularly strong for the company, accounting for 48% of total net revenue during this period.

This encouraging financial report comes on the heels of Golden Goose’s decision in June to postpone its initial public offering (IPO). Citing market volatility stemming from the European parliamentary elections and the calling of snap general elections in France, the company, which is controlled by private equity firm Permira, stated its intention to re-evaluate the IPO at a later date.

Despite this setback, Golden Goose’s strong H1 performance demonstrates the resilience and appeal of the brand within the luxury footwear market. The company continues to capitalize on the growing demand for high-end, handcrafted sneakers, solidifying its position as a key player in the industry.

While the timing for a potential IPO remains uncertain, Golden Goose’s commitment to delivering strong financial results suggests it is well-positioned for future growth and success. The company’s focus on quality craftsmanship and unique design aesthetics resonates with discerning consumers, indicating a positive outlook for its long-term prospects.