Golden Goose, the Italian fashion brand worn by Taylor Swift, Selena Gomez and Reese Witherspoon, is determined to chart its own course by focusing on the consumer, not fashion trends.
CEO Silvio Campara told Yahoo Finance he’s “consumer obsessed”, allowing the brand – known for its deliberately scuffed $500 sneakers – to focus on the customer and evolve from the.
“The magic thing is that we never offered this product to these celebrities,” Campara said. The shoe is meant to make “everyone feel special”, he added. “These celebrities wearing them have just been a great amplifier for a message that’s simple and not just limited to our small community…it’s really open to a larger community.”
Campara admits that in the early days of the brand, launched in 2000, there were questions about the unique design.
“People were a little skeptical at first, like, why do I have to spend $500 on a dirty pair of shoes? but the intention to get people talking worked.
More than 22 years later, the brand, acquired by Permira Holdings LLP for 1.3 billion euros in 2020, is entering a “new frontier” of the consumer industry that Campara calls.
“We don’t really look at the fashion trend. We really look at the consumer trend and there is something that is certain. The KPIs [Key performance indicator] consumers are looking at is not EBITDA, is not cash conversion, is not revenue, but is really like NPS [net promoter score] customer’s purchase. It’s really the ability of the company and the brand to retain and engage with those communities.”
Despite rising inflation again, this luxury brand is not slowing down.
“I can tell you that from an American perspective, we didn’t see a recession last year,” Campara said.
During the first half of fiscal 2022, sales in the United States increased by 85% on an annual basis, bringing in 98.5 million euros (95.7 million dollars) against 53.3 million euros ($51.8 million) in the same period last year.
Campara is confident in the direction of the brand – the consumer – and says the brand will always stand out in all the noise.
“In general, the business…has performed incredibly well…Why? Because again, we’re not really looking at the fashion trend. We’re really looking at the consumer trend.”
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