Canada Goose is opening new stores in Toronto and New York and announcing further openings in London and Chicago for the autumn.
Canada Goose has announced several new stores in North America for the end of 2017: one in Calgary, Canada, inside the Cadillac Fairview Chinook Centre, and another inside Boston’s Prudential Center. One of the highlight events will be the inauguration of Canada Goose’s first Japanese store. In a press release, the label wrote that “the new, 300 m2 flagship store will be run by the company’s distribution partners, and will be located in the Sendagaya district, recognised as one of the hubs of high-end fashion in Japan.”
Undeniably, Canada Goose’s revenue growth is being driven by its direct-to-consumer expansion. In the first quarter, closed at the end of June, the label posted strong sales growth, notably thanks to its monobrand stores and to e-tail. Sales grew from CAD12.5 million to CAD28.2 million (€18.8 million), while gross margin skyrocketed, rising from 29.7% to 46.9%. Despite this, operating income remained in the red, with losses for nearly CAD15 million in the quarter, the same as in the previous fiscal year.