Company type | Public |
---|---|
TSX: GOOS NYSE: GOOS | |
Industry | Retail |
Founded | 1957 |
Founder | Sam Tick [1] |
Headquarters | , Canada |
Area served | Online, retail stores: Chicago, New York, Boston, Minneapolis, Toronto, Montreal, Calgary, Edmonton, Vancouver, Tokyo, London, Paris, Frankfurt [2] |
Key people |
|
Products | Outerwear Knitwear |
Revenue | CA$1.22 billion (2023) |
CA$136 million (2023) | |
CA$69 million (2023) | |
Total assets | CA$1.59 billion (2023) |
Total equity | CA$478 million (2023) |
Owner | Bain Capital and others |
Number of employees | 4,760 (2023) |
Website | canadagoose |
Footnotes /references Financials as of April 2,2023 [update] [4] |
Canada Goose is a Canadian holding company of winter clothing manufacturers. The company was founded in 1957 by Sam Tick, under the name Metro Sportswear Ltd. [5]
In 1957, Polish-Jewish immigrant Sam Tick founded Metro Sportswear, the company that would later become Canada Goose. [1] [6] The company's first products were wool vests, raincoats, and snowsuits. [1] Tick's son-in-law David Reiss joined Metro Sportswear in 1972 and introduced a down-filling machine that allowed the company to more efficiently produce winter jackets. [7] [8]
By the late 1970s, the company was supplying parkas to police, corrections officers, park rangers, and other public sector workers under the Snow Goose brand name. [9] [5] It also sold designs to larger apparel manufacturers such as L.L. Bean and Eddie Bauer. [9] [5] In 1982, Reiss succeeded Tick as the company's CEO. [8] [7] In 1985, Reiss acquired a majority stake in the company and changed its name to Snow Goose. [9] [7]
In 1997, David's son Dani Reiss joined the company, initially working in sales. [1] [5] In 2000, at Dani Reiss's urging, the company changed its name from Snow Goose to Canada Goose. [10] The following year, Dani Reiss took over from his father as CEO of the company. [5] [6]
Under Dani Reiss' leadership, the company discontinued its private label operations to focus mainly on consumer products. The manufacturing continued solely in Canada. [5] The business saw rapid growth around the turn of the millennium and revenues increased from roughly $3 million in 1991 to roughly $17.5 million in 2008. [11]
In 2010 Canada Goose opened an office in Stockholm, Sweden, for its European operations. [12] In 2011, Canada Goose acquired a new plant in Winnipeg, Manitoba, Canada. [13] As global growth continued, Canada Goose moved its Winnipeg operations into a larger facility in 2013. [14]
In December 2013, Boston-based private equity firm Bain Capital acquired a 70% equity stake in Canada Goose at a $250 million valuation. [15] [16] The deal included a commitment to keep manufacturing in Canada. [17] At the time, the company had grown to approximately 1,000 employees and had recently opened new manufacturing plants in Toronto and Winnipeg. [18] In December 2014, Canada Goose opened a showroom and sales office in New York City. [19] [20] From 2001 to 2014, the company's sales revenue had grown from $3 million to $200 million. [21] Canada Goose also acquired a factory in the former city of York in Toronto formerly owned by ACCO Brands' Hilroy stationery.
In January 2015, Canada Goose acquired a second manufacturing facility in Scarborough and opened a second factory in Winnipeg that November. [22] [23] In late 2016, Canada Goose opened a store in Toronto's Yorkdale Shopping Centre. [24] [25]
The company announced preparations in November 2016 for an initial public offering, [26] reporting that it generated $291 million in revenue and $27 million in profit in 2016 and had $278 million in debt. [27] On March 16, 2017, shares of the company began trading on the Toronto Stock Exchange and New York Stock Exchange under the ticker symbol GOOS. [28] The IPO was composed of 20 million shares selling for around $13 per share, and raised approximately $255 million in new revenue. [29] [30]
In June 2017, Canada Goose opened its first manufacturing facility in Quebec, a 95,000 square foot facility in Boisbriand. [31] In October 2017, Canada Goose opened its second United States flagship store on the Magnificent Mile in Chicago. [32]
A third Winnipeg-based Canada Goose manufacturing plant opened in September 2018. [33] This facility brought Canada Goose's employee count in Winnipeg to 1,700 workers. [33] Two months later, the company expanded into China, despite calls to boycott Canadian products over the arrest of Huawei CFO Meng Wanzhou in Canada. It established a store in Beijing, [34] opening in December 2018. [35]
In May 2019, the company opened its eighth Canadian production facility and first in Montreal. [36] [37] At this time, the company had grown to approximately 3,800 employees and its apparel was being sold in 40 countries. [38]
Canada Goose is headquartered in Toronto, Canada, [39] with manufacturing facilities in Canada. [18] It has stores in Toronto, New York, Chicago, and Beijing. [40] [34] It is a publicly traded company, with Bain Capital owning a majority stake. [18] Its CEO, Dani Reiss, has been in his position since 2001. [5] Its current president is Carrie Baker, who moved into her role in March 2022. [41] As of December 2022, Canada Goose had approximately 3,850 employees. [42]
Canada Goose manufactures outerwear and apparel, including coats, parkas, knitwear, hats, gloves and footwear. [43] [44] Its longest-running products are its parkas, which are meant to keep the wearer warm in freezing temperatures. [1] [45] These coats have been worn by researchers in the United States Antarctic Program and in dogsledding events such as the Iditarod and the Yukon Quest [46] [47] In November 2018, the company acquired the bootmaker Baffin. In November 2021, Canada Goose launched its first-ever footwear collection. [48] [49]
The brand is known for its distinctive logo, which resembles an arctic map of the North Pole encircled by red text that reads "CANADA GOOSE" on top and "ARCTIC PROGRAM" along the bottom. This badge is usually placed on the upper arm of a coat or jacket. [50] The company does not outsource its manufacturing or license its brand to other manufacturers, and brands its products as "Made in Canada". [51] [52]
To combat counterfeiting, Canada Goose has set up a web page that verifies whether Canada Goose goods sold by a particular vendor are authentic or not. [53] Fake Canada Goose Jackets are one of the many counterfeit items being handled by Project Chargeback, a collaboration between the Canadian Anti-Fraud Centre, credit-card companies, and banks, to scrutinize online merchant accounts. [54] In 2011, as an anti-counterfeiting measure, Canada Goose began sewing hologram trademarks into its jackets as proof of authenticity. [55]
In October 2012, Canada Goose won a legal battle against counterfeiters in Sweden. The District Court of Stockholm found five individuals guilty of felony fraud, trademark infringement, and customs offences. The Court sentenced two of the defendants to serve time in prison and awarded Canada Goose damages of 701,000 SEK (approximately CAD$105,000). [56] [57]
Canada Goose has been criticized by animal rights groups and anti-fur advocates for the use of goose down and coyote fur in the construction of its jackets. [58] [59] In 2015, a group called Animal Justice Canada filed a complaint with the Competition Bureau of Canada claiming that the trapping methods used by Canada Goose's coyote fur suppliers were inhumane. [58] In March 2017, PETA bought 230 shares of the company so it could propose a shareholder resolution at Canada Goose's next annual meeting to "ask them to abandon the cruel use of fur and feathers." [60]
In April 2020, the company announced that by 2022, all of the fur in its jackets would be sourced from reclaimed coyote fur already existing within supply chains. [61] In June 2021, Canada Goose amended that plan, announcing it would stop using fur entirely by 2022. [62] PETA subsequently suspended its international campaign against Canada Goose, while still urging the manufacturer not to use goose down in its jackets. [63] In November 2021, the company's goods achieved the Responsible Down Standard, a certification that ensures feathers in Canada Goose jackets are sourced, according to certifying body the Environmental and Ethical Certification Institute, from "farms that respect animal welfare". [64] [65]
In 2023, the company launched Generations, a platform intended to keep its products in circulation by allowing consumers to trade in and purchase previously owned Canada Goose apparel. [66] [67]
Canada Goose has several competitors in the high-end outerwear market, a segment which grew considerably between 2011 and 2017. [68] Moose Knuckles, contrasting with Canada Goose's low key advertising which relies heavily on social media, has run controversial ads, including the FUQ (Fédération unilatérale du Québec) parodying the terrorist separatist group Front de libération du Québec (FLQ) which received complaints and resulting in the brand being dropped by a retailer, [69] [70] and another one mimicking Kate Upton's Sports Illustrated cover where she wore a white Canada Goose Parka. [71] [72] Mackage, Moncler, Nobis (whose founder Robin Yates was previously a vice president at Canada Goose), Parajumpers, and Woolrich are also frequently mentioned rivals. [73] [74]
In January 2012, Canada Goose launched a lawsuit against International Clothiers in the Federal Court of Canada for trademark infringement. Canada Goose alleged International Clothiers of intentionally designing a logo and positioning it on jackets to mimic the Canada Goose Arctic Program trademark. The International Clothiers product lines in question were the foreign-manufactured Canada Weather Gear and Super Triple Goose. [75] Canada Goose claimed that unfair business practices were used including publishing print advertisements to promote the jackets as Canada Goose products. [76] A settlement was reached in November 2012. [77]
Triple F.A.T. Goose, owned by Turbo Holdings, a privately held company, with other brands Vaiden, and First Down, compete. [78] [79] [80] [81]
Canada Goose has used product placement to promote its products. [82] [83] The jackets have been worn in several films, starting with The Day After Tomorrow . [46] American model Kate Upton appeared on the cover of the 2013 Sports Illustrated Swimsuit edition in a bikini bottom and a Canada Goose parka. [84]
In 2016, rapper Lil Uzi Vert released a mixtape featuring a song titled "Canadian Goose". [85]
Professional athletes have also promoted Canada Goose. During Boston Red Sox designated hitter David Ortiz's final trip to Toronto during the 2016 Major League Baseball season, Toronto Blue Jays players José Bautista and Edwin Encarnación each gave Ortiz a custom-made Canada Goose jacket, valued at US$1000. [86] [87]
In 2020, amidst the COVID-19 pandemic, actor Ryan Reynolds and Canada Goose donated parkas for 300 students in Arctic Bay, Nunavut. [88]
The Hudson's Bay Company is a Canadian retail business group. A fur trading business for much of its existence, it became the largest and oldest corporation in Canada, and now owns and operates retail stores across the country. The company's namesake business division is Hudson's Bay, commonly referred to as The Bay.
Winnipeg is the capital and largest city of the province of Manitoba in Canada. It is centred on the confluence of the Red and Assiniboine rivers, near the longitudinal centre of North America. As of 2021, Winnipeg had a city population of 749,607 and a metropolitan population of 834,678, making it Canada's sixth-largest city and eighth-largest metropolitan area.
Tim Hortons Inc., commonly nicknamed Tim's or Timmie's, is a multinational coffeehouse and restaurant chain based in Canada with headquarters in Toronto, it serves coffee, donuts, sandwiches, and other fast-food items. It is Canada's largest quick-service restaurant chain, with 5,701 restaurants in 13 countries, as of September 2023.
Hudson's Bay, also known as The Bay, is a Canadian luxury goods department store chain. It is the flagship brand of the Hudson's Bay Company (HBC), the oldest and longest-surviving company in North America as well as one of the oldest and largest continuously operating companies in the world.
Sears Canada Inc. was a publicly-traded Canadian company affiliated with the American-based Sears department store chain. In operation from 1952 until January 14, 2018, and headquartered in Toronto, Ontario, the company began as Simpsons-Sears—a joint venture between the Canadian Simpsons department store chain and the American Sears chain—which operated a national mail order business and co-branded Simpsons-Sears stores modelled after those of Sears in the U.S. After the Hudson's Bay Company purchased Simpsons in 1978, the joint venture was dismantled and Hudson's Bay sold its shares in the joint venture to Sears; with Sears now fully owning the company, it was renamed Sears Canada Inc. in 1984. In 1999, Sears Canada acquired the remaining assets and locations of the historic Canadian chain Eaton's. From 2014, Sears Holdings owned a 10% share in the company. ESL Investments was the largest shareholder of Sears Canada.
The Sports Network (TSN) is a Canadian English language discretionary sports specialty channel owned by CTV Specialty Television, owned jointly by Bell Media (70%) and ESPN Inc. (30%), itself a subsidiary of The Walt Disney Company. TSN was established by the Labatt Brewing Company in 1984 as part of the first group of Canadian specialty cable channels. TSN is the largest specialty channel in Canada in terms of gross revenue, with a total of CA$400.4 million in revenue in 2013.
Shaw Communications Inc. was a Canadian telecommunications company which provided telephone, Internet, television, and mobile services. The company was founded in 1966 as Capital Cable Television Company, Ltd. by JR Shaw in Edmonton. The company was acquired by and amalgamated into Rogers Communications in 2023; most operations were rebranded to the Rogers brand beginning in July of that year.
Cineplex Inc. is the largest cinema chain in Canada.
Fur clothing is clothing made from the preserved skins of mammals. Fur is one of the oldest forms of clothing and is thought to have been widely used by people for at least 120,000 years. The term 'fur' is often used to refer to a specific item of clothing such as a coat, wrap, or shawl made from the fur of animals.
Arc'teryx is a Canadian high-end design company specializing in outdoor apparel and equipment headquartered in North Vancouver, British Columbia. It focuses on technical apparel for mountaineering and Alpine sports, including related accessories. The company's name and logo reference the Archaeopteryx, the transitional fossil of early dinosaurs to modern dinosaurs (birds). Arc'teryx is known for its waterproof Gore-Tex shell jackets, knitwear, and down parkas.
Starter, Inc. is an American clothing manufacturer, focusing on major league sports teams. Starter's current licenses include MLB, NBA, NFL, and NHL teams. Non-sports agreements include a partnership with Coca-Cola.
The 2010–11 NHL season was the 94th season of operation of the National Hockey League (NHL). The Boston Bruins defeated the Vancouver Canucks in the Stanley Cup Finals four games to three, being the sixth Cup win in Bruins' franchise history. For the fourth consecutive season, the season started with games in Europe. The 58th All-Star Game was held at RBC Center in Raleigh, North Carolina, home arena of the Carolina Hurricanes, on January 30, 2011.
Nygård International was a Canadian clothing brand, based in Winnipeg, Manitoba, that was founded and named after Peter Nygård. It was the largest producer of women's apparel in Canada.
Target Canada Co. was the Canadian subsidiary of the Target Corporation, the eighth-largest retailer in the United States. Formerly headquartered in Mississauga, Ontario, the subsidiary was formed with the acquisition of Zellers store leases from the Hudson's Bay Company (HBC) in January 2011. Target Canada opened its first store in March 2013, and was operating 133 locations by January 2015. Its main competition included Walmart Canada, Loblaws, Shoppers Drug Mart, and Canadian Tire.
OVO Sound is a Canadian independent record label, founded in 2012 by rapper Drake, producer 40, and manager Oliver El-Khatib. Between 2012 and 2022, it operated as a subsidiary of Warner Records.
StarMetro was a chain of Canadian free daily newspapers published in Calgary, Edmonton, Halifax, Toronto, and Vancouver. The chain was a joint venture between the Canadian publishing conglomerate Torstar and Swedish global media company Metro International. The chain was originally branded as Metro prior to rebranding on April 10, 2018. StarMetro was not affiliated with the French-language Métro newspaper published by TC Transcontinental in Montreal.
Casper Sleep Inc. is an e-commerce company that sells sleep products online and in retail locations. Headquartered in New York City, the company has showrooms in New York City, Chicago, and elsewhere. Its mattresses are manufactured in Georgia and Pennsylvania.
Archaeological evidence indicates that the use of Inuit clothing extends far back into prehistory, with significant evidence to indicate that its basic structure has changed little since. The clothing systems of all Arctic peoples are similar, and evidence in the form of tools and carved figurines indicates that these systems may have originated in Siberia as early as 22,000 BCE, and in northern Canada and Greenland as early as 2500 BCE. Pieces of garments found at archaeological sites, dated to approximately 1000 to 1600 CE, are very similar to garments from the 17th to mid-20th centuries, which confirms consistency in the construction of Inuit clothing over centuries.
Victoria Kakuktinniq is a Canadian Inuk fashion designer from Nunavut. Under her label Victoria's Arctic Fashion, Kakuktinniq hand-stitches clothing such as parkas, kamiit, and other accessories. Her work has been described as a major influence in contemporary Inuit fashion. Kakuktinniq has described her work as a means of preserving Inuit traditional skills of sewing and clothing production, which has historically been a significant aspect of Inuit culture. In particular, she advocates for handmade fur garments as sustainable fashion.
Dani Reiss is a Canadian businessman. He is best known for his role as CEO of Canadian clothing company Canada Goose. As of April 2021, his net worth was estimated at US$1.2 billion.