Golden Goose expands direct sales channels after acquisition, plans to open 70 new stores in 5 years

cheap golden goose
cheap golden goose

Italian light luxury tide shoe brand Golden Goose Deluxe Brand (Chinese translation “Golden Goose”, hereinafter referred to as “Golden Goose”) is expected to achieve double-digit sales growth in 2017 and further expand the network of independent brand stores. Recently, Golden Goose celebrated the 10th anniversary of the brand’s classic Superstar sneakers in Milan with the launch of the capsule series.
Golden Goose was founded by Francesca Rinaldo and Alessandro Gallo in Venice, Italy in 2001. After being taken over by the American private equity giant Carlyle Group in March this year, Golden Goose ushered in the 10th anniversary of the birth of its iconic sneaker Superstar this week. It also identified brand new commercial and distribution goals.
The 10th anniversary event was held at Golden Goose’s flagship store at 1 Ponte Vetero Road in Milan. At the same time, a limited edition of 1,000 Superstar capsule sneakers and Tokyo-inspired landing on the moon were launched in gold A collection of t-shirts, sweatshirts and bomber jackets based on street tones and hip-hop.
In addition to selling Superstar’s 10th anniversary capsule series at the brand’s flagship store and the official e-commerce platform, Golden Goose’s business status is also remarkable. According to reports, Golden Goose’s sales in 2016 amounted to approximately 100 million euros and operating profit was approximately 32 million euros, and double-digit sales growth is expected in fiscal 2017.
Brand CEO Giorgio Presca said in an interview with Italian fashion media MF Fashion: “2018 will be a key year for Golden Goose to make adjustments. We are not only investing in footwear products that account for 75% to 80% of the brand’s business Ready-to-wear products are also our focus. We will develop more tailored tailoring for men’s and women’s clothing. Our creative directors (brand founders Alessandro Gallo and Francesca Rinaldo) hope to provide a very accurate and timeless collection, Build a complete lifestyle brand. “Giorgio Presca noted that although the brand has never organized an official launch or fashion show * collection, the ready-to-wear category contributed 18% of the brand’s sales. The brand may participate in fashion week next season.

IorGiorgio Presca was appointed as the company’s CEO after the Carlyle Group acquired cheap golden goose in March this year. He previously joined the Italian * shoe company Geox as CEO in 2012. He has 25 years of experience in the fashion industry, including CEO of Citizens of Humanity, President of VF Jeanswear International, General Manager of Brands for Diesel Group, and Brand Director of Levis Strauss & Co. Europe, Middle East and Africa. In his early years he also worked in marketing at Nordica and Lotto.

Giorgio Presca also concluded: “At present, 90% of our sales come from wholesale channels. Because of this, we have begun to build our direct sales network globally, with the goal to be in the next 3 to 5 years. Newly established 50 to 70 independent brand stores. Retail development, globalization of the brand, and further enhancement of international business are the goals we set with Carlyle. ”In fact, after being taken over by the Carlyle Group, brands have become more important. To expand the brand * ‘s two markets: Italy and the United States.

GoGolden Goose also opened a new store in Venice and opened its second store in the United States on Madison Avenue in New York (* Los Angeles). This week, the Munich and Rome stores will also open, and the London, Vienna and Zurich stores will also open in the near future. As of now, the brand has 13 flagship stores in New York’s SoHo and Upper East Side, as well as London, Paris, Tokyo, Beijing, Shanghai and other cities. “The U.S. market is doing very well, and we want to open stores in other (US) key cities, such as San Francisco, Miami and Las Vegas.” Giorgio Presca said.

Regarding the international expansion strategy, in September this year, Golden Goose took the third largest market, the South Korean distribution channel, from its partners, and acquired 19 stores. Lathan & Watkins Law Offices handed over the direct business. Provided legal assistance to Golden Goose. Golden Goose is also expanding its presence in Russia and the Middle East. The brand’s sales in these two markets increased by double digits in 2017.
2In February this year, the Carlyle Group announced that it had signed an agreement with Golden Goose * shareholders and investment company Ergon Capital Partners to acquire the entire equity of Golden Goose with a transaction value of up to 400 million euros. The transaction was led by Carlyle Group’s Italian subsidiary partner Marco De Benedetti and executed by Carlyle Group’s Carlyle Europe Partners IV, a M & A fund focused on large and medium-sized European markets, which was completed at the end of March this year. Golden Goose is the fourth major investment by the Carlyle Group in the European fashion and apparel industry. The first three investments were in Moncler, TwinSet Simona Barbieri and Hunkemoller.

In May 2015, Ergon Capital Partners II, an investment company focusing on medium-sized enterprises, acquired 75% of Golden Goose from Italian private equity fund DGPA SGR for about 80 million euros. Co-founders Alessandro Gallo and Francesca Rinaldo retain The remaining equity.