The company has “a lot of runway” in Europe, he said. “As we build the direct-to-consumers channel, as we lead with e-commerce, it’s also important to have some stores” as gathering places where consumers can learn about the brand. “We’re going to open stores in the best and biggest and most vibrant cities in the world,” he said, citing Tokyo and Paris as examples. The long-term goal is 15 to 20 stores, according to the IPO prospectus. The high-end clothing company, which opened its first two retail outlets in New York and Toronto last year, is targeting three more in 2018.
Employees there toasted the IPO with wine, as white balloons with GOOS - the ticker symbol - hovered over work stations. “We definitely believe that we can continue to grow,” Reiss said in an interview from his Toronto head office. With two-thirds of Canada Goose’s nearly $400 million in sales coming from Canada and the U.S., the company needs to extend to Europe and Asia, Reiss said. Bain’s stake after the IPO is worth about $1.3 billion.Īfter posting annual sales growth of 38 per cent over the past three years, Reiss is now scanning the globe for additional opportunities to expand. His partners at Bain Capital, the private equity firm, still hold a 57-per-cent stake after pocketing $123 million from selling shares, based on figures in the IPO documents. He maintains a 24-per-cent stake in the company, worth another $557 million after the stock surged 27 per cent to $21.53 on the first day of trading in Toronto. Reiss, 43, took home almost $70 million from the deal, selling 4.1 million shares at $17 each. With IPO, Canada Goose banks on all-weather migration: Jennifer WellsĬanada Goose could end drought of luxury-brands IPOs After a single day of trading, the business has a market value of about $2.29 billion.Ĭanada Goose shares soar in first day of trading His overhaul of the 60-year-old company started by his grandfather paid dividends this week with an initial public offering. Reiss skipped the writing in the end, sticking around to transform Canada Goose Holdings into one of the most valuable luxury brands in the world, selling $900 down coats to everyone from park rangers to Drake. “I wanted to be a short-story writer I wanted to write fiction.” “The last thing I ever thought I would do was work for my parents in the family business,” Reiss said in an interview last year.
He was an English literature graduate from the University of Toronto, looking for a few bucks to finance his travel plans. Dani Reiss had no intention of running a billion-dollar clothing empire when he joined his dad’s shop making winter parkas 20 years ago.
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