On September 12, Golden Goose Deluxe Brand (GGDB) from Italy launched its first direct-operated store in the Midwest.
GGDB was founded in 2001 in Venice, Italy by Francesca Rinaldo and Alessandro Gallo. Its name is inspired by the famous story “Goose laying golden eggs” in Aesop’s fables. The cheap golden goose can bring good luck to the brand. The word Deluxe also goes beyond the dazzling luxury of general cognition, but emphasizes through design Inspired by experience and creation learned from travels around the world, every consumer can use Venice’s GGDB products to experience the refined and traditional culture of Venice and the attention and energy of fresh things.
GGDB has flagship stores in many cities around the world, including Venice, New York, Paris, London, Milan, Tokyo, Seoul, Beijing, Beirut, Saint-Tropez, Amsterdam and more.
First brand to upgrade sneakers from streetwear to luxury
GGDB is best known for those leather shoes that are deliberately old and look dirty but of high quality, which has basically become one of the most common singles of celebrity clothing. Designers Alessandro Gallo and Francesca Rinaldo, although not trained, have designed their own souls. The logo of the half star is very high. Each pair of GGDB is sewn by the old craftsman with a stitch and a thread, and is made by a special distressing process. Therefore, each pair of shoes has a unique existence. What is required is This kind of shameless coolness.
In addition to shoes, GGDB also launched women’s and men’s clothing, which also combines simplicity, street, avant-garde and a little out of the way. Every season, the designer will present to the consumer new works produced and perfectly tailored by famous Venetian artisans, including a complete collection of bags, belts and accessories.
Valuation exceeds 1 billion Euros, GGDB will launch a new round of capital
In September of this year, industry insiders revealed that Carlyle Group, a U.S. private equity investment giant, is entrusting Bank of America to carry out preparations and plans to sell or hold an IPO in the Italian light luxury tide shoe brand Golden Goose Deluxe Brand .
At present, the matter is still at an early stage of discussion, and the outcome is still unknown. GGDB was acquired by Carlyle Group, a U.S. private equity investment giant in 2017, with a transaction valuation of up to 400 million euros at the time, which was Carlyle’s fourth major investment in the European fashion and clothing industry. Down jacket brand Moncler, Italian fashion brand Twin Set and Dutch underwear veteran Hunkemöller).
In 2016, GGDB reportedly achieved sales of approximately 100 million euros and operating profit of approximately 32 million euros. In 2017, after being acquired by Carlyle, GGDB formulated a new business expansion and distribution plan to maintain stable growth in the sports shoe business. On the basis of this, we will strengthen the development of the ready-to-wear business, while improving the sales network and opening more directly-operated stores.
In 2018, GGDB reportedly had a net sales of 185 million euros and a profit before interest, tax, depreciation and amortization of about 80 million euros. According to estimates by people familiar with the matter, GGDB is now valued at more than 1 billion euros.