It looks like Canada Goose is making it’s way to China.
With high hopes of winning over more shoppers, the luxury brand will be opening two stores and a regional headquarters.
Dani Reiss, the brand chief executive notes that he is making “significant investments” in China and has outlined a plan to not only open up a flagship shop in Beijing but also in Hong Kong this fall. In addition to that, Canada Goose will also open up a e-commerce business via Alibaba’s online Tmall.
Canada Goose will be working alongside ImagineX Group, a retail management firm, to help with operations which include staffing as well as daily administration.
In a statement, Reiss says:
“The opportunity for Canada Goose in China is massive.”
“We have already seen exceptional demand from Chinese consumers — locally and internationally — for years.”
Since going public in 2017, Canada Goose Holdings Inc. has been looking for additional ways to grow. With that in mind, the luxury coat maker wants to be known for much more than just cold-weather gear and has released products like spring windbreakers and reflective raincoats.
And the expansion to China comes as a strategic move as many luxury brands from North America and Europe have become successful in Asia due to Chinese consumers’ newfound willingness to spend instead of save.
For example, since Moncler made its way into China, the company has seen about 40 percent of its business coming from its Asia division.