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Golden Goose's net revenues up 12% in first quarter

Reuters
·1-min read
Sneakers of Italian high fashion sneaker brand Golden Goose are hung near its sign at its store in Beijing

MILAN (Reuters) - Italy's Golden Goose said on Tuesday its net revenues rose 12% at constant exchange rates in the first quarter while maintaining "strong margins", as the luxury sneaker maker prepares for a likely initial public offering in Milan.

The group, which is majority-owned by private equity firm Permira, added that sales in the direct-to-consumer channel grew 20%.

Golden Goose, which sells sneakers with a five-point star on the side priced at around 500 euros ($532) a pair, added that it appointed former Gucci Chief Executive Marco Bizzarri as a board member.

There was no update on the timing of its likely IPO.

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It picked Bank of America, Mediobanca, JPMorgan and UBS as joint global coordinators for a planned listing in Milan in 2024, two sources close to the matter told Reuters in December.

($1 = 0.9389 euros)

(Reporting by Elisa Anzolin; Editing by Keith Weir)