...September 21, 2023 During first-half 2023, Golden Goose reported sales growth of 21% year on year continuing to gain market share in its addressable market. The solid performance was supported by all geographies and distribution channels, but particularly EMEA (39% of 2022 total sales) where it posted 24% year-on-year growth on the back of solid organic demand, and the retail channel (up 37% year on year) mainly driven by mono-brand stores. The company's reported EBITDA grew by 25%, reaching 94.9 million on June 30, 2023, supported by its direct-to-customer (DTC) business expansion, which now represents about 70% of total annual sales versus 46% in 2019. Positively, Golden Goose's growth rate exceeded that of its addressable market, which should grow at a compound annual growth rate of 10%-12% between 2021-2027, according to management estimates. The high-end sneaker segment is mainly supported by trends like casualization and personalization, which further accelerated since the pandemic....
