In the first quarter of June 30th, Canada Goose, the luxury down brand, performed well, with sales up 44% year-on-year to $22.8 million and net losses down from $14 million in the same period last year to $12.1 million. The company currently has a valuation of 2.5 billion U.S. dollars and employs 2,000 people worldwide.
The down jacket of this luxury down brand has an average price of 900 US dollars. In FY 2016, its sales reached 290 million U.S. dollars. In 2008, it was only a small brand with annual sales of less than 20 million U.S. dollars.
In the last two years, from Emma Stone, Rihanna, Beckham, Lee Min Ho to Russian President Vladimir Putin and Canadian Prime Minister Justin Trudeau have become fans of CanadaGoose.
In the most recent quarter, Canada Goose attributed the growth of the wholesale channel business to the adjustment of delivery time. This part of sales increased by 38.2% to 19.9 million Canadian dollars, while the direct retail channel sales (including the company e-commerce platform plus its own The store was up six times to 8.3 million Canadian dollars, which was mainly due to the growth of the brand's e-commerce business in North America, France, and the United Kingdom, as well as new stores opened in Toronto and New York during the period. Last fall, CanadaGoose opened its first flagship store in Toronto and New York.
CEO Dani Reiss refused to provide performance forecasts for the second quarter or the entire fiscal year, but revealed that it will open flagship stores in Calgary (western Canadian cities), Boston, and Tokyo in the second half of this year. The new store in Calgary will be Canada Goose. Canada's second brand store. At the same time, stores in London and Chicago will also be opened in the second half of this year.
Although CanadaGoose is already 60 years old, it has been cautious in expanding its independent stores. For a long time, they have played more of a manufacturer's role. Turning to retailers is actually the most recent thing. The company launched its e-commerce website in Canada in 2014. It opened a store in the United States in 2015 and opened stores in the UK and France in 2016.
Canada Goose is mostly open in the city's department stores and shopping malls. For example, the company's 11 stores in the Boston area are located in department stores such as SaksFifth Avenue. This time, the Prudential Center is the top shopping mall in the New England region and will be the New England region. An independent shop.
Tokyo’s flagship store will also be located near Tokyo’s high-end fashion district, Sendagaya, and will be operated by the company’s local channel partners. “Opening flagship stores in Tokyo is very exciting, because Japan has always been one of our fastest growing markets. Now we can respond more quickly to Asian customers' problems and allow them to interact directly with our brands,†said CanadaGooseCEODaniReiss: “We are also very excited that the company will continue to expand in North America. We know that the Canadian tradition of the brand and unparalleled product innovation will resonate with local people and tourists.â€
The company stated that it plans to launch e-commerce platforms in 7 markets in Europe this year. Currently, it has settled in 4 and China will be the next key promotion market for the brand.
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