Golden Goose CEO Silvio Campara: "The Era of Desire is Over" — How the Brand is Thriving in a Slow Market
In a retail landscape where many luxury brands are grappling with slowing sales, Golden Goose has managed to stand out with a remarkable 12% growth in net revenues for the first nine months of 2024, reaching €466 million. But it’s not just the growth in total sales that’s turning heads—the Italian luxury footwear and apparel brand has also seen an 18% surge in its direct-to-consumer (DTC) revenues, which now account for 74% of its total net revenue. This performance comes in stark contrast to a general slowdown in the fashion and luxury industries, making Golden Goose’s success all the more impressive.
At a time when other fashion brands are scrambling to adapt to shifting consumer behaviors and a tough economic environment, Golden Goose’s continued expansion and profitability are emblematic of a fresh, innovative approach to luxury. The company, known for its scuffed and distressed sneakers and bold star motifs, has found a way to connect with a customer base that demands more than just products—they seek experiences and creative involvement.
To understand how Golden Goose has achieved such success, Business Insider sat down with Silvio Campara, the company’s CEO, to discuss the vision behind its growth, the company’s focus on customer engagement, and the future of luxury fashion in an evolving market.
Golden Goose: A Brand Built on Experiences, Not Products
For Campara, the foundation of Golden Goose’s growth is simple but profound. "The problem is not the market. It’s the product. Everything is so boring. That’s why people are not consuming," he asserts. The truth, according to Campara, is that the luxury fashion industry has become increasingly stagnant, with many brands unable to adapt to the changing preferences of consumers. Golden Goose, however, has managed to tap into something deeper. "If Golden Goose is growing, it’s not because we are geniuses. It’s because we understand that the customer is the priority. They don’t just want to buy a product. They want to make their own product."
This focus on personalized experiences is one of the brand’s key differentiators. Golden Goose has transformed the sneaker into an expression of individuality, allowing customers to design their own footwear in-store. This hands-on creative process gives consumers the ability to imprint their personality onto their shoes, making the purchase feel personal and emotionally meaningful. In a crowded luxury market, where many brands rely on the mystique of exclusivity, Golden Goose’s approach stands out as refreshingly inclusive and interactive.
As Campara puts it, "We are the only place where you can make your own sneakers. The era of desire is over—we’re in the era of experience." This sentiment reflects a larger shift in consumer behavior, where experiences—rather than mere transactions—are becoming the ultimate form of luxury. People no longer want to simply buy; they want to feel connected to the brands they engage with, and Golden Goose has been able to provide that sense of belonging and creativity that today’s consumers are craving.
The Decline of Traditional Shopping and the Rise of Experience-Oriented Retail
Campara is candid about the changing dynamics in retail. "Shopping will disappear. It’s old. Nobody wants to shop anymore," he says. Instead, people want to have an experience when they go out, whether it’s enjoying a meal at a restaurant, spending time in a beautiful location like Tulum, or engaging in a meaningful activity. Social media, according to Campara, has had a flattening effect on the emotional connections we share with others, and people are looking for deeper, more authentic interactions.
It is this craving for real, human experiences that Golden Goose is capitalizing on. "When you go outside, you want an experience. This is what you do when you go to a restaurant, when you go on a beautiful weekend trip to Tulum, or when you want to enjoy life," he elaborates. "It’s not about just buying something anymore—it’s about connecting, feeling something, and having a sense of belonging."
By creating an environment where customers can feel a part of the brand’s creative process, Golden Goose has fostered an emotional connection that traditional retail lacks. Many luxury brands rely on maintaining an aura of exclusivity and desirability to attract customers, but Golden Goose has managed to break from this mold by offering customers something more meaningful—a chance to become active participants in the brand’s creative journey.
Creating Loyalty Through Connection and Creativity
This philosophy of creativity and connection has led to impressive customer loyalty. A staggering 70% of Golden Goose’s customer base are repeat buyers, despite the €500 price tag for a pair of sneakers. While many other brands in the luxury sector may struggle with customer retention, Golden Goose’s unique approach has fostered a loyal community that returns again and again. “If you can help people be creative, they are going to be loyal to you forever,” Campara explains.
Golden Goose’s direct-to-consumer model, which has experienced an 18% growth in revenues, is built around this concept of creating lasting emotional bonds with its customers. Unlike many luxury brands that depend heavily on wholesale channels, Golden Goose has made a deliberate shift to emphasize its own retail stores and e-commerce platforms. With 74% of its revenue now coming from direct-to-consumer channels, the company is positioning itself as a leader in the new retail paradigm.
The Golden Goose Growth Story: From $20 Million to $466 Million
Golden Goose’s success is especially remarkable when viewed in the context of its rapid growth over the past decade. When Silvio Campara joined the company in 2013, Golden Goose was a modest operation with just $20 million in revenues, 17 employees, and no stores. Today, the company is poised to close 2024 with 220 stores across 62 countries. By opening 25 new stores annually, Golden Goose is quickly cementing itself as a global luxury powerhouse.
Under Campara’s leadership, Golden Goose has transformed from a niche footwear brand into an internationally recognized luxury label. The company’s signature sneakers—designed with a unique distressed look and bold star motif—have become iconic, adored by celebrities and fashion enthusiasts alike. But it’s not just the design that sets Golden Goose apart; it’s the company’s ability to connect emotionally with its customer base.
The brand’s focus on creativity and personal expression has made it a favorite among fashion-forward consumers who are eager to stand out. "It’s the sense of belonging that makes the difference," Campara notes, emphasizing how important it is for customers to feel like they are a part of something bigger than just a brand.
Haus in Venice: A New Era of Creative Spaces
As part of Golden Goose’s commitment to fostering creativity and emotional engagement, the brand opened its first "Haus" space in Venice in April 2024. The 10,000-square-meter facility, which represents a €12 million investment, is much more than just a store or showroom. It is a multifunctional space where the brand can connect with its community, nurture creativity, and promote its core values.
“Haus is not a museum, it’s not a factory, and it’s not an academy. It’s a little bit of all these things,” says Campara. The space is designed to be a hub for creativity, where customers can engage with the brand’s artisanal process, learn how products are made, and get involved in design workshops. Golden Goose’s focus on creativity is integral to its business model. The company’s customers are not just passive buyers—they are creators, and Haus is designed to foster that creativity by offering workshops and masterclasses led by Golden Goose artisans.
As Campara explains, “These days, it’s not enough to just open stores. You need to open places where people can meet and recharge. Culture isn’t static, and neither is the customer. We need a place where we can connect with them and celebrate that."
The Future of Golden Goose: A Focus on Creativity, Culture, and Customer Engagement
Golden Goose’s growth over the past few years has been extraordinary, but the brand’s ambitions are far from over. As the company continues to expand, it remains deeply committed to its core principles of creativity, culture, and customer engagement. Golden Goose is not just a brand—it’s a creative community, and its future will be shaped by its ability to continue connecting with customers in new and innovative ways.
Looking ahead, Campara remains confident that Golden Goose’s success will continue to be driven by its focus on experiences rather than products. As the luxury market continues to evolve, brands that prioritize creativity, emotional connection, and a sense of belonging will be the ones that thrive. "The era of desire is over—we’re in the era of experience," Campara asserts.
With its global expansion, creative spaces like Haus, and a relentless commitment to engaging with its customers on a deeper level, Golden Goose is poised to remain at the forefront of the luxury fashion industry for years to come.
Golden Goose Redefines the Future of Luxury Fashion
Golden Goose’s remarkable growth in 2024 is not just a result of good timing, but a direct consequence of its bold vision and commitment to creating more than just products. By prioritizing customer experience, fostering creativity, and building emotional connections, Golden Goose has created a blueprint for success in the modern luxury market. As Campara puts it, "If you can help people be creative, they are going to be loyal to you forever."
The brand’s strategy of blending creativity with retail experience has made it a stand-out in a crowded and competitive market, while its focus on emotional engagement has fostered a loyal, dedicated customer base. Golden Goose isn’t just keeping pace with the changing fashion industry—it is leading the charge into a new era of luxury.
