Luxury parka maker Canada Goose to expand into eyewear, luggage and home categories

TORONTO –

Canada Goose Holdings Inc. says it plans to construct its buyer base with a deal with ladies and era Z and increase into new product classes like eyewear, baggage and residential because it charts a brand new five-year development path.

In a monetary outlook and strategic plan launched Tuesday, the corporate says it additionally expects to greater than double its retail footprint from the 51 everlasting shops on the finish of its final quarter, increase into new markets and develop its on-line presence.

The luxurious parka maker says it goals to achieve $3 billion in annual income by 2028 as a part of the expansion plan, which represents a compound annual development price of roughly 20 per cent.

The firm says it expects its annual income for the 2023 fiscal 12 months to be between $1.18 billion and $1.20 billion.

Dani Reiss, CEO of Canada Goose, says the corporate plans to increase its classes, geographies and capabilities “with a keen eye towards investing where we see a high return.”

He says the corporate goals to guard the Canada Goose model whereas delivering top quality, worthwhile development.