In the first quarter of June 30, Canada Goose, the luxury down brand, performed well, with sales up 44% year-on-year to $22.8 million and net loss reduced from $14 million in the same period last year to $12.1 million. The company currently has a valuation of US$2.5 billion 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 US dollars. In 2008, it was only a small brand with annual sales of less than 20 million US 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 Canada Goose.
图/vanityfair
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 The number of stores it owns has increased sixfold to 8.3 million Canadian dollars. This is mainly due to the increase in the e-commerce business of the brand in North America, France and the United Kingdom and the newly opened stores in Toronto and New York. Last fall, Canada Goose opened its first flagship store in Toronto and New York.
CEO Dani Reiss declined 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's second branded store in Canada. At the same time, stores in London and Chicago will also be opened in the second half of this year.
Figure / tumblr
Although Canada Goose is already 60 years old, he has been cautious about expansion of 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, opened stores in the United States in 2015, and opened stores in the UK and France in 2016.
Canada Goose is mostly open in city department stores and shopping malls. For example, the company’s 11 stores in the Boston area are located in department stores such as Saks Fifth Avenue. This time the Prudential Center is the top shopping mall in New England and will be The first independent store in the New England area.
Prudential Center Figure / gameonmom
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, and now we can respond faster to Asian customer issues and allow them to interact directly with our brands,†said CEO of Canada Goose. Dani Reiss said: "We are also very excited that the company will continue to expand in North America. We know that the brand's Canadian heritage and unparalleled product innovation will evoke resonance among locals and tourists."
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.
Topic: wsj
Reprinted from: Curiosity Daily
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