Canada Goose Inc. is a Canada-based apparel and textile manufacturing firm. The Toronto firm designs and manufactures coats, hats, snow pants, gloves, and raincoats; for children, women, and men. The establishment of Canada Goose Inc. was by Sam Tick in 1957. Under Dani Reiss as the Executive President and CEO, Canada Goose Inc. has become the leading brand in Canada in the manufacture of outerwear and knitwear.
The firm sells its products in wholesale and also direct to retailers. Today, Canada Goose Inc. has more than 1,688 employees, whose commitment has contributed to annual sales worth approximately $721.38 million. With the advancement of technology, the company has embraced e-commerce by selling through its online store while still maintaining its offline stores.
Canada Goose Inc.’s Background
Canada Goose Inc. was formerly known as Metro Sportswear Ltd during its establishment in 1957. The Polish-Jewish immigrant started the firm in a small warehouse. David Reiss, Sam’s son-in-law, joined the company in 1972 as its CEO. The duos got tenders to supply heavy-duty parkas and coats to the City Police Department, Municipal workers, Ministry of Environment, Ontario Provincial Police, and Canadian Rangers.
The 1980s saw Metro Sportswear tremendously expanding and widening its markets to the rest of European countries. With the acquisition of majority shares by David Reiss and its new markets in Europe, Metro Sportswear Ltd changed its name to Canada Goose Inc. in the 1990s. Dani Reiss succeeded his father as the company’s CEO in 2001 after joining the company in 1997.
Canada Goose Inc. under Dani Reiss
Dani Reiss, current Canada Goose Inc.’s CEO, stopped outsourcing the attires from Asian companies and opted to produce them in Canada. The company revenues had increased from $3 million, in 1991, to more than $17.5 million in 2008. By 2010, Canada Goose Inc. decided to go global, opening a new office in Stockholm, Sweden. The company also acquired the Winnipeg factory in Canada in 2011 and ACCO Brand’s plant in 2013. The launching of the New York City offices in 2014 saw the realization of the company’s global growth plan.
Dani Reiss led Canada Goose Inc. towards its first Initial Public Opening in 2016. The company started trading in the New York Stock Exchange and Toronto Stock Exchange in 2017, a year when Canada Goose Inc. opened the Chicago office, the second office in the US. In 2018, the company opened new stores in Beijing, China, with long queues during the first day.
Canada Goose Inc. continues to support the Toronto International Film Festival and the Sundance Film Festival. According to Dani Reiss, every stakeholder anticipates Canada Goose Inc. to continue its growth and expansion plan. The 2017 gross profit of $347.6 million is just the beginning of its growth plan.
