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Canada Goose Holdings Inc.

  • Overview
  • Financial statements
  • Metrics
  • Quarterly earnings
  • Similar companies
  • History
    • 21st century
  • News
  • Insider Transactions

Company history

In 1957, Polish- Jewish immigrant Sam Tick founded Metro Sportswear, the company that would later become Canada Goose. The company's first products were wool vests, raincoats, and snowsuits. 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.

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. It also sold designs to larger apparel manufacturers such as L.L.Bean and Eddie Bauer. In 1982, Reiss succeeded Tick as the company's CEO. In 1985, Reiss acquired a majority stake in the company and changed its name to Snow Goose.

In 1997, David's son Dani Reiss joined the company, initially working in sales. In 2000, at Dani Reiss's urging, the company changed its name from Snow Goose to Canada Goose. The following year, Dani Reiss took over from his father as CEO of the company. Under Dani Reiss' leadership, the company discontinued its private label operations to focus mainly on consumer products. 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.

21st century

In 2010 Canada Goose opened an office in Stockholm, Sweden, for its European operations. In 2011, Canada Goose acquired a new plant in Winnipeg, Manitoba, Canada. As global growth continued, Canada Goose moved its Winnipeg operations into a larger facility in 2013. This growth occurred when the luxury parka market grew significantly, with Canadian luxury apparel brands, including Canada Goose, aggressively marketing their parkas to young Canadians.

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. Canada Goose claimed that unfair business practices were used including publishing print advertisements to promote the jackets as Canada Goose products. A settlement was reached in November 2012.

In December 2013, US private equity firm Bain Capital acquired a 70 per cent equity stake in Canada Goose at a $250 million valuation. The deal included a commitment to keep manufacturing in Canada. At the time, the company had grown to approximately 1,000 employees and had recently opened new manufacturing plants in Toronto and Winnipeg. In December 2014, Canada Goose opened a showroom and sales office in New York City. From 2001 to 2014, the company's sales revenue had grown from $3 million to $200 million.

In January 2015, Canada Goose acquired a second manufacturing facility in Scarborough and opened a second factory in Winnipeg that November. In late 2016, Canada Goose opened a store in Toronto's Yorkdale Shopping Centre.

The company announced preparations in November 2016 for an initial public offering, reporting that it generated $291 million in revenue and $27 million in profit in 2016 and had $278 million in debt. 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. The IPO was composed of 20 million shares selling for around $13 per share, and raised approximately $255 million in new revenue.

In June 2017, Canada Goose opened its first manufacturing facility in Quebec, a 95,000 square foot facility in Boisbriand. In October 2017, Canada Goose opened its second United States flagship store on the Magnificent Mile in Chicago.

A third Winnipeg-based Canada Goose manufacturing plant opened in September 2018. This facility brought Canada Goose's employee count in Winnipeg to 1,700 workers. 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, opening in December 2018. In May 2019, the company opened its eighth Canadian production facility and first in Montreal.

In May 2024, Canada Goose appointed Haider Ackermann as its first creative director.

Source: Wikipedia
  • Overview
  • Financial statements
  • Metrics
  • Quarterly earnings
  • Similar companies
  • History
    • 21st century
  • News
  • Insider Transactions