Canada Goose is heading to China, opening two stores and a regional headquarters as it hopes to win over more luxury shoppers for its $900 parka with the brand’s patch on its sleeve.
CEO Dani Reiss says he is making “significant investments” in China and plans to open a Beijing flagship and a shop in Hong Kong this year, along with an e-commerce business on Alibaba’s Tmall. The Toronto-based coat-maker will partner with retail management firm ImagineX Group to help.
“The opportunity for Canada Goose in China is massive,” says Reiss.
Canada Goose Holdings, which will have its China office in Shanghai, has been looking for new avenues of growth since going public last year. It already sells in China through wholesale partners.
Occupying the luxury segment of the outerwear market with some of its jackets fetching more than $1000, Canada Goose employs more than 2600 people. It has a local partner in Tokyo.