Golden Goose Q1 2026 Results: 10% Growth, 81% DTC, IPO Next?

The regional picture in the Golden Goose Q1 2026 results was broadly positive. The Americas grew 14%, supported by a 20% increase in DTC revenues, mainly from same-store performance. APAC grew 17%, with 20% DTC growth, double-digit like-for-like performance, and expanded retail space.

EMEA grew 6%, with strong direct retail performance partly offset by sales in the Middle East being hit by the conflict in Iran during March. CEO Silvio Campara described the first quarter as a “strong start to 2026.” The Golden Goose Q1 2026 Wholesale Problem Wholesale revenue fell 16% in the quarter.

Golden Goose attributed the decline to three separate factors: a timing shift in EMEA deliveries, tougher wholesale conditions in the US market, and a deliberate reduction in South Korean e-retail partnerships. The first and third are within management’s control. The US wholesale environment is not.

Premium and luxury footwear brands have faced consistent resistance from US wholesale buyers who are managing their own inventory carefully and reducing orders on brands where full-price sell-through is uncertain. The DTC mix reaching 81% of total revenue is a notable benchmark. Only a handful of fashion…