Golden Goose’s five Forward stores, which offer a range of services including product repairs, have been key to driving the demand for the brand as it ingrains customizable design and longevity into its customer journey.
The company, known for its “worn-in” footwear aesthetic, opened two new Forward stores in 2023, including its second Miami store and a location in Paris. It already had Forward stores in NYC’s SoHo, as well as in Dubai and Milan.
The Forward stores offer a range of features based on the brand’s Forward Agenda, a sustainability initiative centered on repairing, remaking, reselling and recycling footwear. This includes a full-scale repair service for sneakers and apparel from any brand. There’s also a customization station, where shoppers can add adornments, distressing or embroidery to products. And, finally, they can bring in products to resell or recycle.
In 2024, the brand plans to build on these Forward store features. On March 11, Golden Goose reported $636 million in 2023 revenue, up 18% year-over-year. The prices of its shoes start at $395.
“Physical stores play a pivotal role in delivering an experience that aligns with luxury consumers’ expectations,” said Silvia Merati, CEO of the Americas region at Golden Goose.
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“Luxury is evolving,” said Saisangeeth Daswani, head of strategy at retail innovation agency GDR. “Pre-Covid, we used to talk a lot about how physical stores were moving from a point of sale to a point of engagement. Post-Covid, we are seeing another move — from a point of engagement to a point of emotion.”
Customer engagement around Golden Goose’s customizable experiences is high, said Merati. “Our customers are reacting to Forward stores positively, as seen in our sales numbers.” Trainers account for 90% of the company’s sales, with ready-to-wear, handbags other footwear styles and accessories making up the remaining 10%. Golden Goose has 200 brand stores in 62 countries, with around 75% of its turnover coming from direct sales, with 80% of those sales coming from brick-and-mortar stores.
The brand markets its retail proposition with in-store events, which have included hosting artists providing product customizations and co-hosting sustainability panels with universities.
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In 2023, Golden Goose repaired 24,000 sneakers globally, according to the company. Other. luxury brands offering repairs for a fee include Burberry, Louis Vuitton and Gucci, though they don’t offer the service on-site in stores.
“The tools and machines used for the craft sit beautifully within each store and echo the atmosphere of an artisanal laboratory,” said Merati, pointing to the stores’ “craft” aesthetic inclusive of hand-drawn logos and wooden decor.
“We’re increasingly seeing luxury retailers embrace nonlinear models [of revenue],” said Daswani. The Forward stores’ pricing for shoe customization can reach the hundreds, he said. Repairs start at $50. “The offerings are empowering consumers to think about product longevity, because with luxury, it’s all about quality and craftsmanship. Showcasing that at the store [level] builds trust [with the customer].”
While co-creation is not new, it offers a unique, product-focused interaction with a brand. “Co-creation in luxury goes back to monogramming,” said Ana Andjelic, previously chief brand officer at Esprit. “Upper classes [once] had their monogram on literally everything; today, having one’s monogram on a Louis Vuitton bag or an Hermès bag is a continuation of this behavior. It marks customers as special and their product as unique, even if it is mass-produced. It’s less about the act of co-creation and more about status signaling and differentiation.”
In addition, on March 19, Golden Goose debuted a bag-specific customization offering, dubbed “bag lab,” at Neiman Marcus. Inside the department store’s North Park, Dallas location, customers can personalize new bags with a variety of charms and accessories. This activation runs until April 1. The brand launched bags in 2020. Priced at $600 and up, they currently make up a modest percentage of its sales.
Merati mentioned the jobs Golden Goose is providing to cobblers and repair specialists, as a result of its Forward stores. As of today, Golden Goose has about 20 cobblers across the U.S, EMEA, Korea, and the Middle East and over 120 Dream Makers worldwide.
“Responsible practices are not only a brand or company responsibility, but they’re also a people responsibility,” she said. “We must create action plans among all involved, including partners, suppliers, employees, clients and retail concepts. Encouraging sustainable behavior within our orbit with small choices each day will ladder up to create a major impact. It’s important for the luxury industry to be at the forefront of this.”
