
Italy's Golden Goose posts 12% rise in first-quarter revenues
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)
© Thomson Reuters 2025 All rights reserved.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Fashion Network
38 minutes ago
- Fashion Network
Swiss sneaker brand On lifts targets as Europe, Asia fuel demand
Home › News › Business Published August 12, 2025 Download Print Published August 12, 2025 On Holding AG lifted its sales and earnings forecasts for the year after an unexpectedly strong second quarter that saw buyers in Europe and Asia snap up the Swiss sneaker maker's high-priced footwear. Tennis player Roger Federer backs On - On The Roger Federer-backed company now sees revenue growing at least 31% on a constant currency basis this financial year, above analyst estimates and three percentage points higher than the previous target. It translates to net sales of 2.91 billion Swiss francs ($3.6 billion) at current spot rates, On said Tuesday. Zurich-based On has become one of the top performers in the sneaker world, expanding from its core running shoes to other areas like tennis, training and apparel. The brand has grown rapidly since its 2010 founding, eating into market share of bigger players including Nike Inc. and Puma SE. On's shares are up nearly 17% so far this year in New York, outperforming rivals including Adidas company expects its gross profit margin to reach a range of 60.5% to 61% for the year, slightly up from its previous target despite US trade tariffs weighing on the sneaker sector. On cited better-than-expected growth at its expanding network of company-owned stores and its e-commerce channels.'The energy everywhere is so high,' Chief Executive Officer Martin Hoffmann said in an interview. 'We are in a really strong position and the whole ecosystem is supporting our aspirations.' On expects to open another five to 10 stores later this year, including one in its home of Zurich, another in Palo Alto, California, and a couple of locations in South Korea, Hoffmann said. Second-quarter sales rose more than analysts expected to 749 million Swiss francs, up 38% from a year ago in constant currency terms. The gross profit margin reached 61.5%, also better than analysts' estimates. On has the most expensive running shoes in the industry on average and began edging prices higher in the US last month, especially on lifestyle products. That approach hasn't scared off consumers so far, with strong early demand for On's new highly cushioned Cloudsurfer Max model which came to market in July, according to Hoffmann. Revenue in the second quarter jumped 43% in Europe, the Middle East and Africa and 101% in the Asia-Pacific region, significantly outperforming estimates. Growth of about 17% in the Americas was just shy of new store in Singapore generated some of the best opening-weekend business that the company has seen anywhere in the world, Hoffmann said. 'The demand there is so strong,' he said of the Asia-Pacific region. 'Much stronger than what we are willing to supply to the market.' Copyright Bloomberg Tags : Fashion Footwear Sports Business


Fashion Network
39 minutes ago
- Fashion Network
Swiss sneaker brand On lifts targets as Europe, Asia fuel demand
Home › News › Business Published August 12, 2025 Download Print Published August 12, 2025 On Holding AG lifted its sales and earnings forecasts for the year after an unexpectedly strong second quarter that saw buyers in Europe and Asia snap up the Swiss sneaker maker's high-priced footwear. Tennis player Roger Federer backs On - On The Roger Federer-backed company now sees revenue growing at least 31% on a constant currency basis this financial year, above analyst estimates and three percentage points higher than the previous target. It translates to net sales of 2.91 billion Swiss francs ($3.6 billion) at current spot rates, On said Tuesday. Zurich-based On has become one of the top performers in the sneaker world, expanding from its core running shoes to other areas like tennis, training and apparel. The brand has grown rapidly since its 2010 founding, eating into market share of bigger players including Nike Inc. and Puma SE. On's shares are up nearly 17% so far this year in New York, outperforming rivals including Adidas company expects its gross profit margin to reach a range of 60.5% to 61% for the year, slightly up from its previous target despite US trade tariffs weighing on the sneaker sector. On cited better-than-expected growth at its expanding network of company-owned stores and its e-commerce channels.'The energy everywhere is so high,' Chief Executive Officer Martin Hoffmann said in an interview. 'We are in a really strong position and the whole ecosystem is supporting our aspirations.' On expects to open another five to 10 stores later this year, including one in its home of Zurich, another in Palo Alto, California, and a couple of locations in South Korea, Hoffmann said. Second-quarter sales rose more than analysts expected to 749 million Swiss francs, up 38% from a year ago in constant currency terms. The gross profit margin reached 61.5%, also better than analysts' estimates. On has the most expensive running shoes in the industry on average and began edging prices higher in the US last month, especially on lifestyle products. That approach hasn't scared off consumers so far, with strong early demand for On's new highly cushioned Cloudsurfer Max model which came to market in July, according to Hoffmann. Revenue in the second quarter jumped 43% in Europe, the Middle East and Africa and 101% in the Asia-Pacific region, significantly outperforming estimates. Growth of about 17% in the Americas was just shy of new store in Singapore generated some of the best opening-weekend business that the company has seen anywhere in the world, Hoffmann said. 'The demand there is so strong,' he said of the Asia-Pacific region. 'Much stronger than what we are willing to supply to the market.' Copyright Bloomberg Tags : Fashion Footwear Sports Business Fashion Jobs : PUMA ADIDAS


France 24
2 hours ago
- France 24
China Evergrande Group says to delist from Hong Kong
The Hong Kong bourse's listing committee decided to cancel Evergrande's listing as it had failed to meet a July deadline to resume trading, according to an exchange filing. Once China's biggest real estate firm, Evergrande was worth more than $50 billion at its peak and helped propel the country's rapid economic growth in recent decades. But it defaulted in 2021 and became emblematic of the years-long crisis in the country's property market. A Hong Kong court issued a winding-up order for Evergrande in January 2024, ruling that the company had failed to come up with a debt repayment plan that suited its creditors. Evergrande's shares on the Hong Kong stock exchange were suspended that month. Liquidators have made moves to recover creditors' investments, including filing a lawsuit against PwC and its mainland Chinese arm for their role in auditing the debt-ridden developer. Evergrande's share listing will be cancelled on August 25, according to Tuesday's filing, which was attributed to liquidators Edward Middleton and Tiffany Wong. Middleton and Wong said in an attached progress report that Evergrande's debt load was bigger than the previously estimated $27.5 billion. "As at 31 July 2025, this claims' discovery exercise had resulted in 187 proofs of debt being submitted, by which claims of approximately HK$350 billion (US$45 billion) in aggregate have been made," the document read. This figure was not to be taken as final, Middleton and Wong added. "The liquidators believe that a holistic restructuring will prove out of reach" at this stage, the duo wrote. China Evergrande Group was a holding company and the liquidators said they had assumed control of more than 100 companies within the group. They said in the report that they were not able to "estimate the amounts that may ultimately be realised from these entities". The property behemoth's market value was only around $274 million when share trading was suspended, and its founder Xu Jiayin owned a roughly 60 percent stake at the time, Bloomberg News reported. "Whether or not there's a delisting, Evergrande's shareholders will likely have to prepare for near-total loss," Bloomberg Intelligence analyst Kristy Hung told the news outlet before the delisting was announced. "The developer's liquidation and substantial claims from creditors who are ahead in the order suggests equity holders face material risk of getting nothing," Hung said.