The footwear segment is growing and can grow. Dr. Martens, Golden Goose, Scarpa, Giano and Cult are all brands with recorded revenue increments in 2022. They wish to continue developing their business this year, each with its own goals, strategies and investments. Here they are.
How the footwear segment can grow
Dr. Martens closed its fiscal year on March 31st and reached a turnover of 1 billion UK pounds (1.16 billion euro at current exchange rates). This equals a 10% growth on the previous period, even if profits were down. Dr. Martens claims to have sold 13.8 million pairs of shoes, down 2% from 2022, writes Footwear News. The company forecasted the first semester to be in line with the same period of 2022 (April-September) and for the entire 23/24 FY to increase revenue at a medium-high rate. The long-term goal is to reach 2 billion.
After closing 2022 with a revenue of 501 million euro (+30% on 2021), Golden Goose also saw sales increase by 20% in the first quarter of 2023. The growth, specifies the company, was mainly organic, thanks to “the continuous investments and the expansion of the retail channel”.
Scarpa’s 2022: a revenue of 169 million euro, +26% on 2021. It doubled it in 7 years. The company also mentioned 6 million euro invested in R&D, while 5.5 were paid to modernize production sites (in Italy, Serbia and Romania) through the update of machinery and other tools.
Giano (in photo) sold about 300,000 pairs of shoes and generated a revenue of 19 million euro in 2022. Thanks to the licenses from Harmont&Blaine (the most productive one), Woolrich and La Martina. Within the HQ in Torre San Patrizio (Fermo), the company employs 35 people producing about 35,000 pairs per year. The goals is to reach a turnover of 25 million euro in 2023 (source Fashion Network).
Cult also has ambitious plans. The brand controlled by Zeis Excelsa claimed to have recorded a turnover of 12 million euro in 2022. CEO Massimiliano Rossi told Corriere della Sera that he wants to double revenue by 2025 also by offering multiple products (not just shoes but total look) and retail.