Italy’s Golden Goose posts 12% rise in first-quarter revenues

Golden Goose reported a 12% rise in net revenues at a constant exchange rate to €164.5 million ($186 million) in the first quarter, driven by a strong performance in the EMEA region, the Italian luxury sneaker maker said on Wednesday.

The company added it had opened three new stores during the quarter, with direct-to-consumer (DTC) net revenues reaching 76% of total net revenues.

Earlier this year, Blue Pool, a Hong Kong-based investment firm backed by Alibaba co-founder Joe Tsai, bought a 12% stake in Golden Goose, after the Permira-backed company abruptly pulled plans for a stock market listing last year.

($1 = €0.8828)