Canada Goose Expanding to China
Means possibly all the collars made out of N. American Coyote may have increased demand.
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Canada Goose Announces Strategy for Long-Term Growth in Greater China
Opening Regional Head Office in Shanghai, First Two Retail Stores in Beijing and Hong Kong, and Launching e-Commerce
TORONTO--(BUSINESS WIRE)-- Canada Goose (NYSE:GOOS, TSX:GOOS) today 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.
About Canada Goose Inc.
Founded in a small warehouse in Toronto, Canada in 1957, Canada Goose has grown into one of the world’s leading makers of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic and inspired by relentless innovation and uncompromised craftsmanship. From Antarctic research facilities and the Canadian High Arctic, to the streets of New York, London, Milan, Paris, and Tokyo, people are proud to wear Canada Goose products. Employing more than 2,700 people worldwide, Canada Goose is a recognized leader for its Made in Canada commitment, and is a long-time partner of Polar Bears International. Visit canadagoose.com for more information.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements, including statements relating to Canada Goose’s strategy for long-term growth in China, the opening of retail stores in Beijing and Hong Kong, and the launch of Chinese e-commerce operations. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement, including, without limitation, risks identified under the heading “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended March 31, 2017, and filed with the Securities and Exchange Commission and the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.
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Source: Canada Goose Holdings Inc.