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Tag: Canada Goose

  • Canada Goose China appoints Larry Li as new president

    Canada Goose China appoints Larry Li as new president

    Canada Goose has appointed Larry Li as president, China, effective immediately. In this role, Li will oversee all business activities in the Mainland China market, including commercial, marketing and finance. He will be based out of the company’s regional headquarters in Shanghai and report to Paul Cadman, president of Asia Pacific, Canada Goose.

    Li joins Canada Goose with nearly 20 years of experience in the luxury sector, having held regional senior leadership positions across retail, operations, and finance. Most recently, he was managing director, China at Dunhill, part of the Richemont group, and was instrumental in the brand’s repositioning and new product direction. Prior to that, he was with LVMH group and worked at brands including Louis Vuitton, Givenchy and Kenzo in Shanghai and Tokyo, holding various senior management roles, the company said in a press release.

    This announcement comes as Canada Goose continues its expansion in the China market, which the company entered in 2018. Mainland China is home to Canada Goose’s largest retail network, with 16 stores. In addition to the store that opened in Xi’an in May 2022, Canada Goose plans to open another three this fall in Tianjin, Qingdao and Chengdu. The brand will continue its category expansion, having launched its inaugural footwear collection last fall, and deepen its ties with local design talent, exemplified by its upcoming collaboration with Feng Chen Wang and Xu Zhen for Fall/Winter 2022.

    “Li is a proven strategic leader with an entrepreneurial mindset and exceptional business development skills. Running China from China has been pivotal to our success in the market. Li’s luxury expertise in China makes him uniquely suited to lead the local team, drive our business forward and seize the strategic opportunities that we see ahead,” Dani Reiss, chairman and CEO, Canada Goose, said.

    “I am honoured to join Canada Goose, as the business enters an exciting new phase of expansion in China. Canada Goose’s functionality, purpose and design in performance luxury have deeply resonated in China. I look forward to building on this great foundation and bringing the company vision to life,” Li said.

  • Canada Goose ramps up Japan expansion with Sazaby League

    Canada Goose ramps up Japan expansion with Sazaby League

    Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) and longstanding partner Sazaby League Ltd. (“Sazaby League”) have entered into an agreement to create the joint venture Canada Goose Japan, with plans to accelerate DTC expansion, including stores.

    This agreement will replace an exclusive national distributor arrangement between Sazaby League and Canada Goose. Commencing in April, the existing distribution will be assumed by the joint venture, of which each partner will own 50 per cent. Current distribution includes a permanent Canada Goose retail store in Tokyo, a national e-Commerce site, as well as wholesale points of distribution across the country. The new operating model is expected to significantly increase revenue and gross profit per unit from the existing business. Canada Goose Japan is also expected to generate C$60m – C$65m in total revenue in fiscal 2023, which is roughly double the contribution from this market in fiscal 2022.

    “Japan is one of the world’s largest and most influential luxury markets and has long been an important consumer market for Canada Goose,” said Dani Reiss, President & CEO, Canada Goose. “This new agreement sets the stage for the acceleration of our growth in Japan, across both DTC and wholesale. We are excited to expand our existing operations with Sazaby League and know their successful history building strong consumer brands in the market will help drive us forward.”

    “We are proud to partner with Canada Goose and to be part of their continued growth in Japan,” said Yoji Hirai, CEO of Canada Goose Japan. “Canada Goose is a global performance luxury lifestyle brand, known for their unparallel product and industry-leading sustainability commitme

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  • Canada Goose under fresh fire in China over no-return policies

    Canada Goose under fresh fire in China over no-return policies

    China’s top consumer protection organization has warned Canada Goose Holdings Inc against “bullying” customers in China with its return policies, just three months after the winterwear brand was fined for false advertising.

    The premium down jacket manufacturer has been a hot topic on Chinese social media in recent days over its handling of a case involving a customer who wanted a refund of her purchases amounting to 11,400 yuan (US$1,790.17) after finding quality issues.

    She said she was told by Canada Goose that all products sold at its retail stores in mainland China were strictly non-refundable, according to her account which went viral online.

    State-backed media such as the Global Times newspaper later cited Canada Goose as denying that it had a no-refund policy and that all products sold at its retail stores in mainland China were refundable in line with Chinese laws. The company did not respond to Reuters’ request for comment.

    That has not failed to quell criticism of the brand.

    “No brand has any privileges in front of consumers,” the government-backed China Consumer Association (CCA) said in an opinion piece posted on its website on Thursday morning.

    “If you don’t do what you say, regard yourself as a big brand, behave arrogantly and in a superior way, adopt discriminatory policies, be condescending and bully customers, you will for sure lose the trust of consumers and be abandoned by the market,” the CCA said.

    Representatives of the brand were summoned for talks on Wednesday by the Shanghai Consumer Council to explain its refund policy in China.

    The dressing-down of Canada Goose comes as tension between China and Western countries has fuelled patriotism and driven some shoppers to turn to home-grown labels.

    Canada Goose was also fined 450,000 yuan in September in China for “misleading” consumers in its ads.

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  • Canada Goose names new Asia-Pacific president

    Canada Goose names new Asia-Pacific president

    Canada Goose has appointed Paul Cadman as its new president for the Asia-Pacific region.

    In his new role, Cadman will oversee the business’ activities including commercial, financial, and marketing across Apac markets, including Greater China, Japan, South Korea, Australia, and New Zealand.

    “Paul is a trusted brand advisor, having consulted for us for years,” said Dani Reiss, president, and CEO of Canada Goose. “His extensive knowledge in the luxury sector and his deep experience in developing brands across the region has provided our team with a valuable perspective.”

    Cadman has more than 30 years of strategic luxury goods experience and held leadership positions with global brands, including Salvatore Ferragamo, Asprey & Garrard, Bvlgari, and Estee Lauder.

    “Paul’s experience, entrepreneurial nature, and regionally-specific industry knowledge make him the best fit for the role as we strengthen our brand presence and further execute against our long-term growth strategy,” said Reiss.

    Cadman also founded PMC Global Hong Kong, a strategic management and business consultancy focused on the luxury goods industry.

    The appointment is in line with Canada Goose’s strategy to deepen its influence in the Apac region, including its recent store openings in Harbin, Nanjing, Ningbo, Beijing, Taipei, and Macau.

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  • Canada Goose appoints an APAC president

    Canada Goose appoints an APAC president

    Canada Goose announced the appointment of Scott Cameron as president, Asia-Pacific (APAC), effective April 1 and the appointment of Michael D. Armstrong, executive vice president, ViacomCBS, to its Board of Directors as an independent director, effective immediately.

    Cameron joined Canada Goose in 2016 as chief strategy and business development officer and most recently served as president of the Greater China region. During his tenure, Cameron was responsible for the development and growth of the brand’s direct-to-consumer global channels, successfully established Canada Goose’s presence in Asia and assembled its team in the region. In this new role, he will oversee all marketing and commercial activity within the expanded APAC region, which includes Greater China, Japan, South Korea, Australia, and New Zealand.

    “Scott has been instrumental in ensuring the highest level of operational excellence throughout our stores globally, building our business in Greater China and providing an exceptional level of support to the executive team for the past five years,” said Dani Reiss, president and CEO of Canada Goose. “This appointment is a reflection of his relentless efforts and the success he has helped to drive in the region.”

    Armstrong, a 22-year veteran of ViacomCBS Global Distribution Group, manages relationships with third-party studios and oversees the international sales teams for formats and CBS Newspath service. Previously, he served as general manager of BET Networks, where he oversaw strategy and operations, content acquisitions, multi-platform scheduling, marketing, corporate communications, strategy, finance, research, and audience science. Armstrong is on the board of PRX and a member of the Board of Trustees at his alma mater Hampton University.

    “I look forward to Michael’s contributions as a Canada Goose board member, drawing on his extensive expertise in business development and operations throughout the entertainment industry and the world,” said Reiss. “I am confident that his vast entertainment experience will provide a valuable perspective as we continue to execute on our long-term growth strategy.”

    “I am honored to join the Board of Directors at Canada Goose, which has grown into one of the world’s most coveted lifestyle and performance luxury apparel brands. I look forward to working hand in hand with my fellow Board members and the management team to continue to propel the brand’s growth,” said Armstrong.

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  • Canada Goose revenues surge more than 50%

    Canada Goose revenues surge more than 50%

    Canada Goose Holdings announced its financial results for the third quarter, highlighting a surge in revenues after new store openings both physical and online. For the quarter ended December 31, 2018, the North American outdoorwear company said total revenues increased by 50.2% to $399.3m from $265.9m, or 49% in constant currencies.

    Direct-to-consumer sales totalled $253.3m from $131.7m last year, driven by the strong online and in-store sales. Canada Goose said it opened five new stores during the quarter and an online store.

    Wholesale revenue increased to $164m from $134.2m, on the back of higher order values from existing partners, coupled with earlier shipment timing relative to last year.

    The Toronto-based company reported net income came in at $103.4m, or $0.93 per diluted share, compared to $63m, or $0.56 per diluted share. The 64% increase was due to higher operating income and a lower effective tax rate, said Canada Goose.

    Adjusted EBITDA was $151.1m, compared to $94.7m.

    “Fiscal 2019 is shaping up to be another year of impressive results. In our peak selling season we continued to deliver when and where it matters most, while also strengthening our foundation for future success on the global stage,” said Dani Reiss, Canada Goose President & CEO.

    “We have successfully entered new markets, introduced new product, and increased capacity to meet growing demand in both channels. We remain deeply confident in the long runway we have ahead.”

    Looking ahead for 2019, annual revenue growth is projected to be in the mid-to-high thirties on a percentage basis, compared to at least 30%.

    Annual growth in adjusted net income per diluted share is now predicted to be in the mid-to-high forties on a percentage basis.

    Founded in 1957, Canada Goose is today one of the world’s leading makers of performance luxury apparel. The Made-In-Canada advocate employs more than 3,400 people worldwide.

    In Asia, the Canadian brand has flagships in Tokyo, Beijing and Hong Kong.

  • Canada Goose opens store in Beijing

    Canada Goose opens store in Beijing

    Winter clothing firm Canada Goose has finally opened its first Mainland Chinese store in Beijing. In a launch rumoured to be delayed due to political tensions between China and Canada – and dismissed by the firm as the result of construction delays – extensive queues saw shoppers waiting for over an hour for the opportunity to purchase the CNY9000 (US$1300) parka jackets.

    The brand has previously enjoyed significant popularity in Hong Kong.

    An email from the firm to news agency Reuters read “We are proud of our newest store in China and look forward to welcoming our fans”.

    Calls to boycott the brand were made on social media following Canada’s arrest of Huawei Technologies’ CFO Meng Wanzhou, a situation that has sparked a 37 per cent drop in the value of Canada Goose shares in Toronto.

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  • Richemont joins Alibaba’s IP alliance on brand protection

    Richemont joins Alibaba’s IP alliance on brand protection

    Global luxury group Richemont has joined the Alibaba Anti-Counterfeiting Alliance, a partnership between the e-commerce giant and brands that works to protect intellectual property rights on Alibaba’s platforms. Geneva, Switzerland-based Richemont is now among the 115 members from 16 countries and regions that are a part of the IP alliance, as well as the latest from the luxury sector to partner with the e-commerce giant on brand protection. Richemont said it would share its technology, expertise and other information to support the Alliance’s efforts.

    Richemont owns 17 luxury brands, including Cartier, Montblanc, Piaget, Van Cleef & Arpels, Watchfinder & Co and Chloe, in addition to Yoox Net-A-Porter Group, the online retail platform. YNAP runs four different websites — Net-A-Porter, Mr Porter, lifestyle-goods destination YOOX and affordable-fashion seller The Outnet — as well as online flagship stores for leading fashion brands, such as Armani, Moncler and Valentino.

    The announcement comes a month after Alibaba and YNAP partnered to bring the site’s high-end goods to Chinese consumers. A joint venture between Alibaba and YNAP will launch a mobile app for the Net-A-Porter platform and menswear site Mr Porter, in addition to opening flagship stores for Net-A-Porter and Mr Porter on Tmall Luxury Pavilion, a channel that connects premier brands with China’s digital-first consumers.

    Richemont, along with New Balance, General Motors and McDonald’s, were the latest global brands to join the AACA. The alliance’s membership has more than tripled from the original 30 founding brands at its launch last year, and now includes  names, such as Bose, Canada Goose, Honda, Samsung, Mars, Adobe, Danone, Hasbro and L’Oreal, in 12 industry categories. They work with Alibaba in six key areas — proactive online monitoring and protection, a product test-buy program, offline investigations and enforcement actions, industry-law enforcement workshops, litigation tactics and public awareness campaigns — in the fight against IP infringement.

    In September last year, the AACA established an advisory board so that brands could provide feedback to Alibaba in areas related to IP enforcement. Alibaba has since upgraded its Intellectual Property Protection Portal as well, delivering faster navigation and a better user experience on the site, where rights holders report suspected infringing listing and share information with Alibaba. In addition, Alibaba’s Good Faith program, which is open to brands with a track record of accurate notice and takedown filings, has streamlined the reporting process.

    The IP alliance does not restrict its brand-protection efforts to the online space. Alibaba and its brand partners also work to find and eliminate fakes at their source. In the luxury sector, Alibaba and Louis Vuitton – one of the first members of AACA – conducted an offline investigation that resulted in the seizure in May of approximately RMB 100 million ($14.4 million) worth of counterfeit goods.

    “The protection of intellectual property rights requires all stakeholders to work closely together and share their expertise. The AACA will continue its efforts to establish industry best practices for IP protection by creating effective collaboration among brands, platforms and law enforcement,” said Michael Yao, Alibaba’s senior VP and head of Brand Protection and Cooperation.

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  • China Canada Goose flagship opening delayed after Meng arrest

    China Canada Goose flagship opening delayed after Meng arrest

    The arrest of Huawei CFO Sabrina Meng Wanzhou in Canada has prompted down jacket retailer Canada Goose to delay launching its Chinese flagship store. Diplomatic tensions between the two countries have already contributed to a 20.6 per cent drop in the brand’s share price this month amidst calls for a boycott in China and the Meng arrest only worsened the situation.

    The brand had been poised to open the 600sqm flagship in fashionable Taikoo Li Sanlitun this Saturday, following a pop-up event last month and a promotional campaign on Alibaba’s Taobao online mall. It opened a branch in Hong Kong last month, and is planning a regional office in Shanghai.

    “Our Beijing store has been delayed slightly due to ongoing construction. We look forward to opening our newest store in the near future.”

    A statement published : “Our Beijing store has been delayed slightly due to ongoing construction. We look forward to opening our newest store in the near future.”

    The Meng arrest took place at the request of the US on fraud charges related to alleged breaches of Iran sanctions.

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  • Canada Goose debuts in Hong Kong market

    Canada Goose debuts in Hong Kong market

    Canadian clothing manufacturer Canada Goose has opened its first Hong Kong store. Located in the IFC mall, the inaugural greater China store follows a partnership struck in May with Alibaba to launch the brand on the mainland. Canada Goose’s CEO in China Scott Cameron said the brand chose to open in Hong Kong because of its status as China’s fashion capital, as well as its strategic location between the mainland and the rest of the world.

    The brand’s new 2018 fall products are available in store as well as its classic down jacket and “Fusion Fit” collection for Asian wearers.

    The Alibaba partnership was created in part to ensure consumer access to genuine products in a market category frequently assailed by counterfeiting.

  • Canada Goose shares jump on smaller-than-expected loss

    Canada Goose shares jump on smaller-than-expected loss

    Luxury parka maker Canada Goose reported a smaller-than-expected first-quarter loss on Thursday, amid growing revenue from its direct-to-consumer business.

    The Toronto-based company reported a net loss of $18.7-million, or 17 cents, in the quarter ended June 30, narrower than analyst expectations for a loss of $22.3-million, or 21 cents. It posted a loss of $12.1-million, or 11 cents, a year earlier.

    Canada Goose shares surged as much as 6.5 per cent in Toronto in early trading and were up 4.6 per cent at $76.07 at 9:34 a.m. ET (1334 GMT).

    The maker of $900-parkas has been focused on expanding margins by taking more control of its manufacturing and retail sales. Largely cushioned from the retail industry’s struggles by its luxury pedigree, it is opening more of its own stores, pushing into China and Hong Kong, and has expanded into new product lines including knitwear.

    The company’s gross margin jumped to 64 per cent in the quarter from 47 per cent a year earlier.

    Canada Goose maintained forecasts for its 2019 fiscal year of annual revenue growth of at least 20 per cent and adjusted net income per share expansion of at least 25 percent.

    Investors have rewarded the company, with its shares up 83 per cent this year, versus a minuscule gain of 0.6 percent in the Toronto Stock Exchange’s S&P/TSX composite index.

    The company operates seven stores around the world, with another three set to open in North America by year-end.

    It said in May it will open a store each in Beijing and Hong Kong with partner ImagineX Group this fall, and will start e-commerce sales in China through Alibaba Group’s Tmall. It has said it plans to open up to 20 stores by the end of 2020.

    “Productivity across our retail store network in this off-peak period was exceptional, reducing the loss impact of our strategic growth investments and giving us a favorable tailwind for the rest of the year,” Chief Executive Officer Dani Reiss said in a regulatory filing.

    Revenue grew 58.5 per cent to $44.7-million in the first quarter, driven by the direct-to-consumer division — its own stores and online sales — which rose to $23.2-million from $8.3-million a year earlier. Wholesale revenue increased to $21.5-million from $19.9-million.

  • Canada Goose announces long-term growth strategy in China

    Canada Goose announces long-term growth strategy in China

    Canada Goose announced its expansion plans for Greater China, including establishing a regional head office in Shanghai and appointing Scott Cameron as President, Greater China.

    To meet growing consumer demand, Canada Goose will also launch its direct-to-consumer business including opening two retail stores — in Beijing and Hong Kong — with operating partner ImagineX Group, and e-commerce operations via Alibaba Group‘s Tmall, China’s largest consumer platform for brands and retailers, in fall 2018.

    “As the world’s largest luxury market, the opportunity for Canada Goose in China is massive. We have already seen exceptional demand from Chinese consumers — locally and internationally — for years, and we are excited to bring our authentic and immersive retail and e-commerce experience directly to our fans there,” said Dani Reiss, President & Chief Executive Officer. “We are making significant investments and putting the right people and partners in place now, to drive long-term brand affinity and a sustainable business for years to come.”

    Establishing a Foundation for Success, Expands Operational Footprint

    To grow national market development efforts, Canada Goose has appointed Scott Cameron to President, Greater China and will open a regional head office in Shanghai, which will be home to a cross-functional business unit, with local expertise and capabilities in marketing and commercial operations.

    Scott previously served as EVP, eCommerce, Stores and Strategy where he was responsible for all operational elements of the Canada Goose direct-to-consumer business, and led the Strategy team. Under his leadership, the company successfully established and grew its direct-to-consumer channels globally, including the launch of the company’s first six retail stores and opening e-commerce in 9 new markets. Scott joined Canada Goose from McKinsey & Co., where he was a principal focused on luxury and apparel retail brands.

    Bringing the Canadian Arctic to Asia, Launches DTC Channel

    With strategic wholesale distribution partners in the market, Canada Goose has seen positive local demand for its authentic heritage, premium craftsmanship, and timeless, function-first designs for a number of years. To build on that and enable consumers to experience the brand’s full assortment, Canada Goose will open a flagship store in Beijing in the prestigious Taikoo Li Sanlitun North Mall. The company will also open a store in ifc mall, a world-class business and leisure destination in Hong Kong. Both stores will open in fall 2018.

    With premier locations, curated store assortments and high touch personal service, the stores will serve as gathering places for fans to explore the company’s rich heritage and discover the latest collections through the brand’s unique and unfiltered lens. Canada Goose has selected ImagineX, a retail brand management and distribution company that is part of The Lane Crawford Joyce Group — Asia’s pre-eminent luxury lifestyle group specializing in fashion retail, brand management and distribution, to support the operational buildout of its retail presence. ImagineX will be responsible for staffing world-class retail brand ambassadors and managing day-to-day retail operations.

    Building on the successes and learnings of its cross-border e-commerce pilot project in China, Canada Goose will transition its online Chinese distribution to a flagship store in the luxury pavilion of Alibaba Group’s Tmall platform, in fall 2018.

    The Company intends to provide additional details regarding these initiatives and investments when it releases fourth quarter and fiscal year results.

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  • Find Out ‘It’ Winter item in Korea

    Find Out ‘It’ Winter item in Korea

    Choosing the right padded jacket — this winter’s ‘it’ item — is a much more complicated task than one may think. It is not just design and color, but the type of insulation also has to be decided — goose, duck or synthetic materials, as well as their composition ratios, waterproof or not and even the overall weight.

    For many South Koreans, however, it all seems to come down to a choice between luxury and cost-effective alternatives.

    On the high-end side, with brands like Canada Goose, Nobis, Herno and Moncler, the jackets are priced at well over 1 million won (US$920).

    As for Moncler, the retail prices of long padded jackets for women hover around 2-3 million won. But some of the popular models have been sold out since summer and there’s a long waiting list still, an employee at a Moncler shop in Seoul said.

    The passion for the French fashion brand is high, as a growing number of people are purchasing online instead and have them delivered directly from Europe.

    “The price is 20-30 percent cheaper,” said Oh Su-hyun, who bought a Moncler coat this year via a Paris-based online shopping mall.

    “It cost me around $1,800, including tax. But I think it as an investment. Winter is long and you can wear it for many years because it’s Moncler.”

    More cost-conscious consumers have turned to more affordable options, chief among which is the PyeongChang Winter Olympic official down jacket, which was offered only in limited numbers.

    High-performance yet stylish and affordable, the PyeongChang coat has become an instant top seller.

    Since its launch on Oct. 26, people have been lining up for the coat which costs 149,000 won. But no more jackets are available now as the 300,000 pre-ordered items are completely sold out. The coats were manufactured by a local company in request by the nation’s retail giant Lotte, a licensed partner to the PyeongChang Olympics, to commemorate the global sports event.

    Some of the coats are being traded online, with a mark-up of 2-3 times the original price.

    The long padded coat craze seems to have led to an overall increase in winter coat purchases.

    According to Lotte Department Store, the sale of winter clothes surged 70 percent this month, while other retailers Hyundai and Shinsegae saw sales growing 12.7 percent and 13.4 percent, respectively.

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  • Canada Goose wings way to Japan

    Canada Goose wings way to Japan

    Canadian winter-clothing brand Canada Goose, which listed last year, has already opened a store in Japan with plans also for a flagship.

    Its maiden store is for men only, opened in Tokyo’s Hankyu Department Store in Yurakucho, Chiyoda-ku, last week.

    The company says on its Facebook page that it launched Canada Goose Hankyu Men’s Tokyo because of demand created by severe cold in Japaan.

    Meanwhile, its planned 300sqm flagship, to be run by its distribution partners, will be in Tokyo’s Sendagaya district, reports Fashion Network.

    After listing last year, the brand launched in Toronto, following up with a New York store within a few months. It is also planning outlets in London and Chicago.

    Specialising in high-end down jackets and parkas, Canada Goose is also expanding at home with a store in Calgary before the end of year.

    In its first quarter, to the end of June, the label says it had strong sales growth, notably because of its monobrand stores and e-commerce. Sales grew from CAD$12.5 million (US$9.8 million) to $28.2 million, while gross margin rose 29.7 to 46.9 per cent.

    However, operating income was on the other side of the ledger with losses of nearly $15 million, the same as in the previous fiscal year.