Goose in Canada has moved from a business of utilitarian white label to a gorgeous status symbol. A company famous for Parker is a celebrity’s favorite.
If you look closely, you may find a famous goose logo (Arctic red, blue, white map) and may be uneven. The movie star will launch a brand in New York City, and the hotel Barrett chooses a heavyweight jacket that will weather the cold winter in Boston.
The combination of the charm and function of this list has helped goose in Canada to increase sales and achieve a luxury brand that is particularly challenging in the retail industry.
The company began as a private label maker in Canada, which manufactures ultrand wool vests and snowmobile suits, but has become a synonym for expensive outerwear. The hoodie is sold for more than $ 1,500 at high -end department stores such as SAKS FIFTH AVENUE and HARRODS. Family -run companies are worth about $ 1 billion. In FY2024, ending in March, revenue reached $ 930 million.
At present, the company is facing new tasks in the general decrease of luxury labels. In the past year, its shares have fallen two digits, and analysts have criticized the company for “brand heat” and lack of overrea dependence on China.
With a focus on the expansion of consumer channels and products, Canada Goose grows in both profits and range and maintains the gloss of prestige. I don’t know if it can be kept warm through this cool down.
Gacho will fly
For example, Canada Goose did not start as a gorgeous effort, like many luxury brands, such as Hermes and Burberry. It was all function. It is a private label maker established as Metro Sportswear in 1957 and sells gears with cold weather with other labels such as LL Bean and Eddie Bauer.
In the 1970s, David Reiss, the founder of the company and the current CEO’s father, Dani Reiss, invented a machine that could easily meet the jacket by the manufacturer. I did it (also known as goose, so it is the name).
“He was very good at finding functional needs and fulfilling it with a functional product,” said Dani Leasing to his father’s business insider. “We have become an expert.”
Vintage snow -goose jacket before the label was changed to Canada Goose. Alexander Calbi, Page Clark, Sarah El Casaby/Business Insider
The company that moved the feathers was the first Canadian on Mt. Everest and was selected by Antarctic scientists. The unique label at the time, called “Snow Goose”, was still far from the global name.
When Dani Leasing, who spent his lifetime in the company, from the floor to the phone in 2001, became CEO in 2001, he tried to change it. He put a brand on the “Canada Goose” and did everything that could make the brand visible.
The company gave a jacket to hockey players, Hotel Barrett and Night Club Bouncer. Immediately, Parker headed to Hollywood. The movie was first worn by the crew of the movie, and then appeared on the screen in the early AUGHTS movies such as “Tomorrow’s Day” and “Nashon Treasure”. Eventually, the celebrity was wearing his will.
This brand became a celebrity’s favorite in the 2010s. Bobby bank/GC image. Bobby Bank/Wire Image; Rich Fury/Getty Image
Think of it as a social media influencer marketing. It worked well, combined with the increase in price setting marked with the brand as a luxury. When DANI REISS officially participated in the company in 1997, the annual revenue was about $ 2.2 million. In 2008, it reached $ 16.4 million.
The cut was declared in 2015 as “Winter of Canadian Goose”, and VOGUE features A-Lister after wearing A-Lister’s signature jacket. The company has fashion now.
“Bocconi University’s fashion and luxury management professor, Professor of Luxury Management said,” First, justify yourself by prove that you can work effectively and actually bring well -performance products. I need to do it. ” “After that, you can cross cut with the gorgeous component of fashion.”
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Growing and growing
The company was released in 2017, and its shares climbed for the next few years. However, the momentum has declined. In the past 12 months, Canadian gangsters have decreased by about 11 %. In the past five years, they have decreased by 70 %.
Analysts have blamed some factors. Luxury sector declined overall in 2024, and full -fledged industry, such as LVMH and Kering, fell. In October, Wells Fargo downgraded the Canadian Goose to “Underweight,” and quoted inactive performance in social media and excessive China.
In February 2023, Goose in Canada accelerated women and generals, building a network for consumers, creating new products while expanding existing categories, and releasing a strategic plan that includes three priority fields. I did. The goal is that revenue reaches $ 2.1 billion by 2028.
“We’ve been a wholesale brand for a long time and wanted to be related to consumers. I wanted to sell online. I wanted to have a store,” said reiss. Ta.
Canadian Goose has expanded consumer channels, including opening more retail stores. Rob Kim/Getty Image
DTC is a powerful tool for controlling the image and price setting of the brand and attracting customers to other products. The department store can carry only the most popular Parker in Canada Goose. The Canadian goose store or its website has a full line. PRANDELLI said that the brand has now better understand the customer, collect data, and improve the client relationship.
This movement is not completely functioning. DTC’s revenue increased in FY2024, but decreased compared to the previous year.
This brand tried to diversify beyond winter hoodies. Alternatively, since the first spring collection was introduced, most people have urged customers to purchase multiple hoodies that are not actually needed. In response to the inventory performance questions, the spokesman pointed out that the company expanded to other categories, including eyewear, (did not comment on stock prices).
“Several symbolic works do not come out of the market, and should be part of all the collections,” said Prandelli, mentioning the Canadian goose jacket. “However, it is necessary to continue to inject new items.”
“It’s much cheaper to make money from an existing client than to keep attracting new consumers,” she added.
The company’s diversification attempts are mixed. The sales of non -heavy units, including apparel, wind wear, and footwear, increased by 20 % in the first quarter of the 2025 fiscal year, accounting for 46 % of sales in 2024 (moving from down is also Peta. The victory protested to use the Canadian Goose fur and down.
Nevertheless, Canada Goose is still leaning greatly on its signature items. In fiscal 2024, nearly 80 % of the annual EBITDA came in the third quarter.
For other luxury outer brands such as MONCLER, collaboration is one of the ways to attract a lipeter. Canadian goose is trying to do the same by appointing Hider Ackerman, a French fashion designer who led the design in Tom Ford as a creative director.
His first collection released in November was “The recordings of the record, his new capsule collection, and Snow -Goose by Canada Goose are very popular with consumers.” The spokeswoman said, but did not provide sales. 。
Achieving luxury is one thing. However, it may be found that maintaining the growth of the sector is a tracking of wild goutes.
