Small dirty shoes Golden Goose believes in Hong Kong’s consumer potential, will open 3 new stores in Hong Kong in 2019

cheap golden goose
cheap golden goose

Italian “small dirty shoes” brand Golden Goose Deluxe Brand (hereinafter referred to as Golden Goose) hopes to have a higher presence in the Hong Kong market.

According to “Women’s Wear Daily”, Golden Goose opened a brand new flagship store in Hong Kong. The store is located in K11 Group’s new project K11 MUSEA just opened by Victoria Harbour in Tsim Sha Tsui. The 1,850-square-foot (about 172-square-meter) flagship store is also a custom laboratory concept store, and is Golden Goose’s fourth global concept store after Milan, Dubai, and Tokyo.
The laboratory concept store allows brand fans to purchase limited edition and customized shoes. These shoes will be made by the brand artisans in Venice, Italy. Customers can also choose customized multi-color laces, star patterns and other decorations for the shoes.

Golden Goose’s ambitions for the Hong Kong market don’t stop there. Golden Goose CEO Silvio Campara said the brand will open two new stores in Hong Kong this year. Counting the stores that the brand has opened in Causeway Bay Harbour City and Central IFC, the total number of Golden Goose stores in Hong Kong will reach 5 by the end of 2019.

Golden Goose was founded by couples Alessandro Gallo and Francesca Rinaldo in Venice, Italy in 2000. The brand is good at reprocessing old materials and sanding, washing and painting sneakers by hand to achieve the old effect. Two pairs of shoes. ” Because of its unique hand-made label, and the endorsement of the top Italian shoemaking technology in the industry, the small dirty shoes are actually classified into the Luxury Fashion category. Its price is not cheap, and the minimum price is 3,000 yuan. Up.

However, recent protests and violence in Hong Kong have had a certain impact on the local retail industry, which will inevitably cause some brands to worry about their performance in Hong Kong. The latest data from the Hong Kong SAR Government’s Census and Statistics Department show that the value of Hong Kong’s total sales in July fell by 11.4%, of which the value of clothing sales fell by 13%.

Campara admits that the recent situation in Hong Kong has indeed affected the brand. “I cannot tell you that (Hong Kong stores) are doing very well, but the slowdown in store sales will only last for a short period of time,” he told the Women’s Wear Daily. I believe that these consumers in this city keep their stores open and keep their business going. You have to be optimistic. “

Hong Kong is very important for cheap golden goose. Campara said that the brand’s turnover has increased from 20 million euros in 2007 to 300 million euros, and Asia accounts for 36% of the company’s total revenue, which is its largest market in the world, and the Chinese mainland and Hong Kong markets account for 35% of the Asian market. Share.

South Korea is Golden Goose’s main revenue in Asia, accounting for 65% of the market. In addition, the United States accounts for 34% of Golden Goose’s revenue, and the European market accounts for 30% of Golden Goose’s revenue.

Hong Kong stores are so important to Golden Goose, because Golden Goose, which seldom advertises, attaches great importance to offline store channels.

Campara said that the brand basically communicates or advertises with the outside world only in three ways. The first is the store, the second is scarcity, and the third is word of mouth. These three methods are closely related because the brand must be selected by the store. Make sure to find the right consumers, and then let those right people recommend the brand to more suitable consumers.
In fact, despite the recent poor performance of Hong Kong’s retail industry, the Hong Kong market is still very important to most luxury brands.

Tiffany recently released the second quarter results report, showing that sales in Hong Kong suffered a double-digit decline, which has affected the decline in global brand performance. “Hong Kong is an important market for any global luxury brand,” said Tiffany CEO Alessandro Bogliolo.

Because of this, Tiffany said that the company will not stop its expansion plan in Hong Kong and consider the expansion of the Hong Kong market as a long-term investment of the company. Later, it will transform the mini-shops at Hong Kong Airport into larger duty-free stores and open a new establishment Brand flagship store with Tiffany Blue Box Café.

Judging from Hong Kong’s contribution to brand sales, Hong Kong is also a market that requires long-term investment for Golden Goose.