Canada Goose. From a family company to a luxury brand
Founded in the 1950s in Toronto, Canada Goose (revenue of US$222 million for the quarter to September 2019, +28%) started as a company initially specialised in professional cold weather wear like woollen vests or raincoats. Today, it is well-known for its high-end parkas lined in goose feathers to withstand polar temperatures (US$825 to US$1,600 each). It also provides an amazing in-store experience, like its refrigerated fitting rooms where shoppers can try the parkas in a cold temperature. In the 1990’s, at the age of 27, Dani Reiss took over his grandfather’s small outerwear company.
In 2001, he became C.E.O. of Canada Goose and turned it into a luxury consumer brand. At that time, the company could not afford huge marketing campaign. Reiss chose to play on word of mouth and telling real stories by outfitting local policemen and TV crew that were shooting in cold-weather location. It also sponsored a North Pole expedition with National Geographic. In March 2017, he took the firm public.
Since then, Reiss pursued an international growth in Europe and in China and bets on “direct-to-consumer” strategy. E-commerce and its 11 company-owned stores now account for 43% of revenue (vs. 11% in 2016). By the end of 2020, Reiss aims to add 20 retail locations but says the company will never have a huge physical footprint. “We see a lot of people closing a lot of stores, and we don’t want to be that company one day,” he said.