Gola owner plans further international expansion following ‘record’ year

Gola owner the Jacobson Group has reported "record" financial performance for the year to 28 December 2024, citing strong performance in international markets, with expansion into China and the Middle East now being targeted in 2026.

Turnover increased by 38% to £36.4m million (versus 2023: £26.4 million) driven by Gola’s “rapidly growing e-commerce presence” and growth delivered through distribution and retail partner channels across the UK, Europe and the USA.

Profit before tax increased by 457% to £3.9 million (2023: £0.7 million), while reported EBITDA increased by 153% to £4.8 million (2023: £1.9 million) with adjusted EBITDA (excluding one off exceptional items) of £5.6 million.

Tony Evans, Managing Director of Lancashire-based Jacobson Group, which incorporates brands including Gola Classics, Gola Performance, Frank Wright, Ravel, Lotus, Lonsdale and Dunlop, said: “I am pleased to report extremely strong year-on-year growth with this excellent set of financial results.

“In 2024 the group delivered a record year for sales and EBITDA growth as a result of the continued expansion of our impressive brand portfolio on an international level.

“We are confident that our diverse business model leaves us well placed to build on this positive growth trajectory, and I am pleased to confirm we have delivered a strong first half performance for the 2025 financial year.

“Further to this, we continue to hold a solid forward order book and have appointed partners in several new territories, meaning the group remains on track to deliver another record performance in 2025.”

In 2024, Gola introduced a number of archive trainer re-releases with styles including the ‘Elan and ‘Tornado’ performing “exceptionally well” with existing and new customers.

Growth for the Gola brand has been particularly strong in the US (Gola’s strongest market), across both retail and direct-to-consumer (D2C) channels, alongside the sustained momentum delivered in the UK – which represents around 20% of business - and key European territories.

Evans added: “Our US market presence will continue to expand as we capitalise on our strong traction to date in the territory. Our D2C sales are showing a strong growth, and we will launch a Gola EU platform in 2026. With the right distribution partners, we are looking to enter new markets where we are not currently present.

“There is significant opportunity for the brand across Asia, in particular China where we plan to start trading in 2026 and the Middle East, plus further market penetration of existing territories – which include Europe, the US and UK.

“Casual footwear styling continues to hold a significant market percentage, and this will continue. Gola is able to satisfy this sector well through its individual styling, unique heritage and its commercial pricing strategy.”

Gola won several new customers in 2024, adding to its diverse range of respected retail names including John Lewis, NEXT, Schuh, Urban Outfitters, Anthropologie, Oliver Bonas, Marks and Spencer, Selfridges, Nordstrom and Bloomingdales.

The company expects continued positive trading momentum in all key markets in 2025 as well as entry into several new markets, including Central America.

The group remains “on track” to deliver another record year, with 40+% revenue growth and continued growth of EBITDA and profit before tax (PBT) in 2025.

E-commerce scalability remains a “business priority”, and the company is confident growth will be accelerated by combining its technical and marketing investment, including the upcoming launch of its European website, to capitalise on the strong momentum in the EU.

Gola celebrated its 120th anniversary in May 2025, making it one of the oldest British sports brands.