canada goose business plan

As Chief Digital Officer, Matt Blonder will be responsible for the strategy, implementation and adoption of all consumer-facing digital platforms. He will drive the brand’s digital innovation and manage the teams responsible for developing the company’s digital roadmap across existing – and new – channels, as well as the company’s IT and Insights teams. Matt joins Canada Goose with over 20 years of experience in omni-channel, direct-to-consumer and digital marketing, most recently serving as President of Global E-commerce at Wolverine Worldwide, where he oversaw the digital and e-commerce strategy across its portfolio of brands.

Juliette Streichenberger will serve as President of CGAG and EMEA, responsible for Canada Goose’s growing business in the internationally influential region. With performance luxury strongly resonating with EMEA consumers, Juliette’s focuses will include expanding the brand’s e-commerce business and store footprint. Juliette brings nearly 30 years of global luxury expertise to the role, having led teams at Prada and LVMH. She joins Canada Goose from Hermès, where she held the role of European Managing Director and more than doubled the business’ turnover during her tenure. Juliette takes over for Pat Sherlock, who is departing, having played a pivotal role at Canada Goose for more than 10 years.

Ana Mihaljevic first joined the company in 2015 and has been critical to the growth trajectory of Canada Goose’s commercial business, having established the planning and sales operations functions. As Head of Global Stores, she will lead the long-term roadmap for the brand’s retail expansion and oversee global retail excellence, championing Canada Goose’s plans to more than double its footprint over the next five years.

Daniel Binder, who has been engaged in consulting and interim roles with Canada Goose, is assuming the position of Chief Transformation Officer and EVP, Sales Operations & Planning. Dan will lead transformation objectives, overseeing the development and execution of the company’s efforts to ensure scalable growth. Prior to Canada Goose, Dan held senior roles at DFS, a division of LVMH, and Macy’s, and has led large performance improvement projects with global organizations in his role as an external consultant. Dan brings more than 35 years of global retail expertise to Canada Goose, leading high-performing teams with intense focus on business process, performance improvement and organizational design.

Having joined in 2017, Patrick Bourke previously led Canada Goose’s Investor Relations and Strategy functions. In his new role as SVP of Strategy & Corporate Development, his responsibilities will include the development, oversight and execution of Canada Goose’s corporate priorities, as well as new business opportunities. This builds upon the experience acquired during his tenure with the company, which includes supporting the Baffin acquisition and the creation of Canada Goose Japan.

About Canada Goose Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com for more information.

Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements, including statements that refer to expectations, intentions, projections or other characterization of future events or circumstances relating to the execution of our proposed strategy, including statements relating to our five-year strategic growth plan. These forward-looking statements generally can be identified by the use of words such as “believe,” “could,” “continue,” “expect,” “estimate,” “may,” “potential,” “would,” “will,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Our business is subject to substantial risks and uncertainties. Applicable risks and uncertainties include, among others, the impact of the ongoing COVID-19 pandemic and the extent and duration of related disruptions to our operations, as well as the evolution of the global economic conditions, are discussed under the headings “Cautionary Note regarding Forward-Looking Statements” and “Factors Affecting our Performance” in our Management’s discussion and analysis of financial condition and results of operations for the third and three quarters ended January 1, 2023 , as well as in our “Risk Factors” in our Annual Report on Form 20-F for the year ended April 3, 2022. You are also encouraged to read our filings with the SEC, available at www.sec.gov , and our filings with Canadian securities regulatory authorities available at www.sedar.com for a discussion of these and other risks and uncertainties. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.

Media: [email protected] Investors: [email protected]

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The luxury parka-maker is set to add new categories, like home, while doubling its store count.

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Dani Reiss has his sights set on bringing a lot more Canada Goose to the world — with a little more of everything, from stores to product categories. 

In Canada Goose Holdings’ first investor day since its 2017 IPO, the president and chief executive officer laid out plans to grow revenues to 3 billion Canadian dollars in fiscal 2028, up from the nearly 1.2 billion Canadian dollars expected in the fiscal year ending in April 2. 

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Reiss first became CEO of the company in 2001, when the firm founded by his grandfather, Sam Tick , had just $2 million in sales. The next two decades saw the Canadian player transform into a powerhouse. 

“We are a brand like no other Canadian-based and -built in the European style of iconic luxury brands,” Reiss said. “We take annual price increases and we don’t have discounts. Our supply chain is vertically integrated. Our [direct-to-consumer] margins reflect that we control our distribution and we create icons….My vision for this brand was to take the decades of experience that we had in making the warmest outdoor [gear] in the world and to create a luxury consumer brand. We didn’t realize at the time how daring that vision was.” 

It’s an approach that had the brand keep its manufacturing in Canada and, with others like Moncler, refashion what was the relatively sleepy outerwear category.

Now, the company sells in 62 countries with more than 1,500 wholesale accounts and 51 stores. 

To realize the next leg of growth, Reiss said Canada Goose would: 

• accelerate its “consumer-focused growth” by building deeper relationships with customers, growing their lifetime value to the brand and expanding with women shoppers and Gen Z;
• more than double the brand’s retail footprint while also growing the digital side of the business, and  
• expand into new categories while growing in the existing offering. That means more heavyweight and lightweight down and quicker growth in apparel, rainwear and footwear as well as the addition of eyewear, luggage and home.

“It’s important to note that, as we execute against our strategic growth levers, that we do so responsibly,” Reiss said. “We will focus on investing where we see high return, protecting our brand and delivering high-quality profitable growth, just as we have since our IPO through the pandemic.”

The plan has Canada Goose’s revenues continuing to grow at a compound annual growth rate of about 20 percent as regional sales balance out with an “equitable split” between the North American region, Europe, the Middle East and Africa, and the Asia Pacific area. 

Adjusted earnings before interest and taxes are slated to stand at 30 percent in 2028. That marks a big swing up from the expected EBIT margins of 14.2 percent to 15.3 percent for the year ending in April, an outlook that assumes heavy strategic investments in leadership hires, digital and strategic initiatives.

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The CEO of Canada Goose on Creating a Homegrown Luxury Brand

Worldwide, the company is a champion for “Made in Canada.”

After working at his family’s coat manufacturing company for a few years, the author realized that high-end coats made in Canada could become a luxury product globally. Targeting European consumers first, he introduced the brand and then marketed it in innovative ways, including outfitting polar explorers and TV and film crews who were shooting in remote cold-weather locations. Perhaps most important, he committed to domestic manufacturing and opened factories across Canada along with training centers for sewers. This paved the way for phenomenal growth and a successful IPO.

Today the company has stores in 12 cities around the world and runs an international e-commerce business. Its focus on delivering an exceptional experience inspired the creation of “cold rooms” in the stores where shoppers can test products in temperatures as low as –25 Celsius before they make a purchase.

As Canada Goose expands organically and through acquisition, Reiss says, the company will continue to make its coats in Canada and other products wherever it can get the highest-quality products at the scale it needs.

I clearly remember the exact day in 2001 when I decided that Canada Goose, the small family business I’d recently taken over from my parents, would commit to always making our signature parkas in Canada. I was sitting at my desk, upstairs from our Toronto factory (the only one we had at the time), reading that morning’s newspaper headlines, and I saw that two North American apparel companies were moving their manufacturing abroad. Their leaders gave two reasons: First, the high cost of domestic labor had been squeezing their margins, so it was just good business to pursue higher profits elsewhere. Second, they didn’t believe that customers cared where products were made so long as the brand and the quality remained the same.

• DR Dani Reiss is the CEO of Canada Goose.

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Canada Goose's made-in-Canada marketing strategy translates into success

Dani Reiss talks about how Canada Goose's brand goodwill was built through grassroots marketing and a bit of old-fashioned made-in-Canada style envy

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Under the stewardship of chief executive Dani Reiss since 2001, Toronto-based Canada Goose Inc. has grown close to 4,000% and become the country’s premier brand of outerwear. Mr. Reiss, whose grandfather, Sam Tick, founded the company in 1957, talked with the Financial Post ‘s Hollie Shaw about how the brand goodwill was built through grassroots marketing and a bit of old-fashioned made-in-Canada style envy.

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Q How did you take the Canada Goose brand to where it is today?

Canada Goose's made-in-Canada marketing strategy translates into success Back to video

A When I started here our factory produced all kinds of stuff [and] we decided to focus on the Canada Goose [outerwear] part of the business and growing it around the world. When I got involved the product was worn by people who lived and worked in the coldest places on Earth, and that is still the case. The 21st century has become the era of the brand and in some cases the era of the fake brand. It makes sense that a down-filled jacket — a quintessentially Canadian product — is made in a factory here.

And ironically where it started to work well first as an urban brand was Europe in the late 1990s. In Canada it was a harder go at first because the people who had heard of it thought of it as this utilitarian brand. The retailers in Europe had a different take on it — to them it was almost a luxury outdoor brand. We used the success in Europe to bring it back to Canada.

People look at retail windows around the world and they would go to Italy and see guys on their scooters in Canada Goose bombers. We made sure that we showed [the Canadian retailers] those images, and whenever we got PR in magazines we demonstrated that to them. We wanted to accelerate the process of them recognizing what was going on.

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Q So manufacturing in Canada became an important message in your marketing?

A It is one of the pillars of our foundation. Ten years ago a lot of Canadian brands thought people didn’t care about ‘Made in Canada’ at all and to that extent they left Canada and produced offshore.

We took that opportunity to stay in Canada and by doing that we became successful. The strategy of sticking around [helped] the perception that we are the champions for ‘Made in Canada’ and people appreciate that. You can’t be a luxury brand without the history and the heritage.

I believe a lot of brands have lost an element of their soul by outsourcing to Asia. If you look at some of the world’s greatest brands, like Louis Vuitton — it is all made at 27 factories in France. It was a calculated risk for us, but the truth is, had we decided to go offshore and manufacture like everyone else was doing, I am certain that we would not be where we are today. In Europe, nobody would have been interested because they have their own European brands that are made in China. At the end of the day, what is your point of differentiation? What makes you special?

Q How do you market the brand? How much traditional advertising do you do?

A One of the powers of our brand is that we make the best and warmest jackets on Earth, so the product is its own advertising, and the logo is so recognizable. We do a little bit of print media but not a lot. We do a lot of sponsorships and direct-to-consumer stuff. It’s lots of word-ofmouth and we support that by sponsorships and partnerships.

In the early days we did things like put jackets on people in the cold like bouncers or scalpers who were cold because they were standing outside all night. Nowadays we have a partnership with Fairmont Hotels and they are a great Canadian brand — a traditional, authentic Canadian luxury brand. All of their front-facing people — the doormen, bellmen, anybody working outside – wears a Canada Goose jacket. That is a direct interaction with consumers.

Q How important a marketing strategy are digital and social media?

A Social media [are] very important because of the way people communicate about our product.

People have this experience of extreme warmth and then they go talk to somebody else about it. Our Facebook page is very active and engaged and [the growth] was organic. It is not commercial, it is social. We tell our stories a lot more than we push our products. We are not going to take out some ad just to get millions of [Facebook] fans.

Q What has counterfeiting done to the brand from a marketing perspective? Does the controversy help in any way, or does it always hurt? You have also filed suit against International Clothiers for trademark violations over using a similar logo. Is the resulting publicity good for you?

A I don’t want to get into [the case] because it is before the courts right now. If I could choose between having the counterfeit problem and not having the counterfeit problem, I [would choose not having one]. The fact that we are being counterfeited speaks to the presence that our brand has in the global marketplace. I think that it is up to us to turn it into a positive thing however we can. The most important thing we can do is to educate consumers about counterfeiting. A lot of people go online and buy a jacket and think that it is ours and it is not, so we want to make sure to get the message out in any way we can and hopefully that will happen less and less.

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Our History

Founded in 1957 in a small warehouse in Toronto, Canada Goose has grown into one of the world’s leading manufacturers of performance luxury apparel.

Sam Tick immigrates to Canada bringing a strong entrepreneurial spirit. In 1957, he founds Metro Sportswear Ltd. in Toronto specializing in woolen vests, raincoats and snowmobile suits.

David Reiss, Sam Tick’s son-in-law, joins the company and launches a new era for Metro Sportswear with the invention of a volume-based down filling machine. David also establishes the label Snow Goose, which later becomes Canada Goose. 

Inspired by one of the coldest places on earth, the Expedition Parka is developed to meet the unique needs of scientists at Antarctica’s McMurdo Station. It becomes standard issue and gains the nickname “Big Red.” 

In 1982, Laurie Skreslet makes history as the first Canadian to summit Mt. Everest, wearing a custom parka designed and manufactured by Metro Sportswear. In 2011, this iconic “Big Mountain” jacket is re-released as the Skreslet Parka. 

Dani Reiss, son of David Reiss and grandson of Sam Tick, joins the company in 1997 and in 2001, becomes President and CEO. Dani ignites the company’s growth and pledges to remain “Made in Canada.”

Today, the brand owns and operates seven manufacturing facilities across the country.

Embracing Arctic adventure, Canada Goose partners with musher, Lance Mackey. He wins the Iditarod and the Yukon Quest dog sled races four times each, making monumental world records along the way.

Canada Goose, which has long been the (un)official jacket of film crews everywhere, makes its on-screen debut in two key films: The Day After Tomorrow and National Treasure. 

With two-thirds of the world’s polar bears living in Canada, Canada Goose joins forces with Polar Bears International (PBI), the only non-profit organization dedicated solely to the conservation of Polar Bears and the sea ice they depend on.

The brand also launches the PBI Collection, a capsule of parkas, lightweight jackets and accessories where a portion of the proceeds from every sale is donated directly to PBI to support their important research, education and outreach

Goose Person, Ray Zahab, enters the Guinness Book of World Records for his un-supported trek to the South Pole. He completes the journey on foot, without the use of skis, in 33 days, 23 hours and 55 minutes—the fastest time ever. 

The first Canada Goose Resource Centre events are held in Pond Inlet and Iqaluit. In partnership with Canadian North, Canada’s Northern airline, Canada Goose delivers free fabric donations and materials to remote communities in Canada’s North, helping them to continue in their traditional ways of sewing with modern technical materials.

The brand later expands this program in 2020 to also include donations of repurposed parkas, many upcycled from its warranty program.

Canada Goose continues to innovate by launching lightweight products suitable for diverse climates and high-intensity activities, including the HyBridge® Lite jacket, which wins the “Best Backcountry Jacket” in the prestigious Gear of the Year awards from Outside Magazine. 

Canada Goose launches its Canadian e-commerce site, the first time the previously wholesale-only brand connects directly with consumers. Online stores in the United States, Europe and Asia follow in the consecutive years.

Canada Goose launches its first official Spring collection – a pivotal moment for the brand as it extends its functional expertise into rainwear and windwear. 

Canada Goose opens its first two flagship stores, located in Toronto and New York City. The stores weave together Canada Goose’s Arctic heritage with modern innovation and offer consumers the widest selection of product, from the broadest range of colours and styles to one-of-a-kind exclusives.

Canada Goose goes public in March, listing on the New York and Toronto Stock Exchanges.

Canada Goose also breaks new ground with the launch of its Knitwear Collection, bringing purpose-driven design and prowess in crafting function-first apparel to luxurious Merino wool garments.

Canada Goose acquires Baffin Inc., a Canadian designer and manufacturer of performance outdoor and industrial footwear. Baffin shares a passion for making gear that allows people to thrive in the outdoors.

That same year, Canada Goose expands into China, with an e-commerce channel and its first stores in Beijing and Hong Kong

The Journey: A Canada Goose Experience opens at CF Sherway Gardens Mall in Toronto. This Concept Store is the first of its kind for the brand, redefining luxury shopping with a guided, fully interactive and experiential environment that immerses guests in the spirit of the outdoors. The store also houses the next generation of the brand’s award-winning Cold Room, surrounded by Arctic landscapes – and real snow. 

Later that year, Project Atigi is established, a social entrepreneurship program celebrating the legacy, craftsmanship and traditions of Inuit design. The program continues to expand, launching additional collections in 2020 and 2022 with proceeds benefiting Inuit communities across Canada through Inuit Tapiriit Kanatami (ITK).

Canada Goose announces its Sustainable Impact Strategy, published in its first-ever Sustainability Report. Among its goals, the brand is committed to achieving net zero scope 1 and 2 emissions by the end of 2025.

The brand’s HUMANATURE purpose platform also launches this year, as does its most sustainable parka to date, the Standard Expedition Parka.

Driven by its HUMANATURE purpose and commitment to innovation, Canada Goose achieves certification under the Responsible Down Standard (RDS) as both a brand and Manufacturer.

The company also announces it is going fur-free, ending the purchase of all fur in 2021 and ceasing manufacturing with fur in 2022.

Later that year, the inaugural Canada Goose Footwear Collection launches with the Snow Mantra and Journey Boots.

Canada Goose joins forces with long-time partner, Sazaby League Ltd., to create the joint venture Canada Goose Japan. 

Canada Goose puts its purpose into action, launching its recommerce platform, Generations , in the USA and Canada.

Building on the brand’s global reputation for making the highest quality, function-first outerwear and apparel, Generations offers an authorized reselling platform that keeps its products in circulation, giving them a second, third and fourth lifetime.

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Leadership in Action: Being a purpose-driven brand

Leadership in Action  > Being a purpose-driven brand

How Canada Goose CEO Dani Reiss made purpose and authenticity the cornerstone of his business’ digital success and global expansion.

T oday, societies demand greater responsibility from the organizations they work for, buy from and invest in—and that’s driving a lasting shift in what defines long-term value. They want businesses to express their brand purpose at every level, from the business strategy and workplace culture to the consumer experience and community investment.

“This year’s  EY Future Consumer Index  found the pandemic caused consumers to double down on the importance of long-term value and ESG,” says Jad Shimaly, chairman and CEO of EY Canada. Commitment to a strong environmental, social and governance (ESG) platform is essential to success.

Consider Canada Goose. The fashion brand offers a prime example of navigating this increasingly digital, increasingly human era. Since CEO Dani Reiss took the helm two decades ago, the company has grown from a local apparel startup in Canada to a globally recognized, direct-to-consumer brand. And its stock has nearly tripled since its 2017 initial public offering.

Reiss made ESG a core element of his strategy, and has applied it not only to the outerwear manufacturer’s brand, but also to its digital transformation, direct-to-consumer pivot and expansion into global markets. Under Reiss’s leadership, the company committed to manufacturing exclusively in Canada, and has sourced materials in more sustainable ways, partnering with environmental groups such as Polar Bears International. The platform is a perfect fit for Canada Goose—a Canadian company producing cold-weather clothing and dedicated to protecting the frozen North from the threat of climate change. The company also initiated Project Atigi, an entrepreneurial partnership with Inuit designers that celebrates their expertise and craftsmanship in a unique parka collection, with proceeds from sales going to Inuit communities.

Canada Goose has really embraced its purpose: to keep the planet cold and people warm

Jad Shimaly

Chairman and CEO, EY Canada

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“We know the apparel industry is one of the most polluting industries on the planet,” Reiss says. “We want to help change that. I think companies that don’t have that same mentality aren’t going to survive the next few decades. Consumers these days want to buy products from companies that are good for the planet. It’s fundamental.”

“Canada Goose has really embraced its purpose: to keep the planet cold and people warm,” Shimaly says. “Their commitment to the environment is deeply rooted in who they are, the products they develop, and how they operate in the communities they work in.”

The company embraced its purpose at the outset of the pandemic and stepped up to address gaps and new market challenges by converting Canada Goose’s manufacturing facilities to prepare personal protective equipment for Canadian front-line workers.

Reiss brought the company’s purpose to the forefront and put the right systems in place to make positive contributions to society, while also building their brand awareness and helping them achieve trust as an industry leader.

Digital transformation has had a further benefit in enabling the company to deepen an authentic expression of purpose, Shimaly says. “It increases the level of engagement companies have with all their stakeholders, including employees, consumers and suppliers.”

Digitalization and direct-to-consumer sales are revolutionizing business around the globe, forcing firms to reimagine their organizational structure, workforce and relationship with consumers. Amid those changes, it may be easy to lose sight of the human element. “Yes, this is the digital era,” says Kim Billeter, People Advisory Services leader for EY Americas. “But the human is still at the core.”

“Now is the time to take that ESG-focused approach,” Billeter says. “The key is consistency and authenticity around your message. That’s how you get what you want out of your transformation.”

This is part of  Leadership in Action  — a master class series featuring prominent CEOs highlighting the decisive moment where bold decision-making has made a material impact on their company and career.

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Canada Goose Holdings Inc.

Ca1350861060, apparel & accessories.

• Canada Goose Presents Its Updated Strategic Growth Plan and Five-Year Financial Outlook

Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) (NYSE: GOOS, TSX: GOOS) will host an Investor Day today, February 7, 2023 at the Company’s headquarters in Toronto. In conjunction with the event, the Company is announcing five-year financial targets and providing an update on its strategic priorities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230207005261/en/

Canada Goose Presents Its Updated Strategic Growth Plan and Five-Year Financial Outlook (Photo: Business Wire)

“Today, Canada Goose is recognized around the world as a performance luxury lifestyle brand, known as a global leader in warmth and protection. Our products are iconic, our style is enduring and our brand has never been stronger. Looking ahead, we see incredible opportunity to continue the revenue growth trajectory we have experienced since the time of our IPO and deliver increasing rates of profitability.” said Dani Reiss, Chairman and CEO.

“As we grow, we will expand our categories, geographies and capabilities with a keen eye towards investing where we see a high return, protecting our brand and delivering high quality, profitable growth,” Mr. Reiss continued, “As I look at the next five years, I am confident in our long-term financial plan, introduced today, to reach $3 billion in revenue, and an adjusted EBIT margin of 30% 1 through the execution of our three strategic growth pillars.”

As part of its strategic plan, the Company intends to execute on the following three strategic growth pillars:

• Accelerate Consumer Focused Growth : We have significant opportunity to grow lifetime value of our longstanding and new customers with a focus on women and Gen Z.
• Build our DTC Network : We expect to more than double our retail footprint from the 51 permanent stores at the end of Q3 fiscal 2023 while continuing to grow our digital presence, both through Omnichannel and online. We see opportunity in new markets around the world and expect to increase our DTC penetration within existing markets and will evolve our distribution structure in others.
• Create New and Expand Existing Categories, rapidly: We intend to deliver year-round relevance consistent with Canada Goose’s position as a performance luxury lifestyle brand. We expect continued growth in all categories including in heavyweight and lightweight down and accelerated growth of newer categories such as rainwear, apparel and footwear as well as the addition of further categories including eyewear, luggage and home.

Long-Term Financial Outlook

In fiscal 2028, the Company expects to achieve:

• Revenue of $3 billion representing a CAGR of approximately 20%, in line with the historical performance for revenue CAGR from fiscal 2017, during which the company completed its IPO, through its expected revenue of between $1.175 billion and $1.195 billion in fiscal 2023. This growth is expected to be driven by the acceleration of the consumer-focused growth initiatives, the buildout of the DTC network and the creation of new and more rapid expansion of existing categories as described above. Across geographies, the Company’s strategy is focused on continuing on the luxury trajectory path with growth moving regional revenue as a percentage of total towards an equitable split between North America, EMEA 2 and Asia-Pacific.
• 30% adjusted EBIT margin 3 : The Company’s adjusted EBIT margin target is expected to be delivered through the disciplined execution of its strategy, which actively balances headwinds and tailwinds to maintain gross margin, which is anticipated to continue to benefit from favorable channel mix, pricing and leverage of manufacturing overhead. Selling, General and Administrative expenses (“SG&A”) are expected to leverage from increasing scale and the Company’s proactive approach to invest ahead of growth. The expense structure is also expected to benefit from actions being taken to increase efficiencies and reduce direct costs of goods, improve sourcing costs and leverage technology, among other initiatives. Taken together, the Company expects to achieve $150 million in saved and avoided operating costs by the end of fiscal 2028 while focusing increased spend on the expansion of new categories and business initiatives.

Within the meaning of applicable securities laws, the foregoing financial outlook for the Company’s ongoing 2023 fiscal year and financial guidance for the Company’s 2028 fiscal year and related long-term targets constitute “financial outlook” and “forward-looking information”. The purpose of this financial outlook is to provide a description of management's expectations regarding the Company's annual and long-term financial performance and may not be appropriate for other purposes. Actual results could vary materially as a result of numerous factors, including the risk factors referenced below under “Forward-Looking Information”.

Assumptions

The financial outlook for fiscal 2028 and related long-term targets are based on the following key assumptions for the period from the end of fiscal 2023 to the end of fiscal 2028, among others:

• The assumptions discussed above in relation to our long-term targets and strategic growth pillars, including our ability to realize on the initiatives noted therein
• Our ability to increase permanent retail store count to between 130 and 150 with growth across Asia Pacific, EMEA and North America
• Our ability to increase store productivity and e-Commerce sales with year-round product assortments, pricing and an elevated retail and digital experience
• Our ability to optimize wholesale and other distribution, including the introduction of travel retail and the buyback of key distributor markets
• DTC revenue representing approximately 80% of total revenue in fiscal 2028
• Our ability to achieve and maintain DTC gross margin in the mid 70% range and Wholesale gross margin in the mid to high 40% range with heavy weight down, light weight down and other product categories representing approximately 50%, 25% and 25% of revenue, respectively, in fiscal 2028
• SG&A costs decreasing to approximately 40% of revenue with marketing costs increasing slightly faster than revenue as the Company generates more efficiency from its overhead costs and improves store productivity
• Taxation rates consistent with historical levels
• No material fluctuations in foreign exchange rates relative to current levels

The Company’s outlook is based on its best assessment of the current macroeconomic environment, including ongoing global supply chain and inflationary pressures, foreign currency volatility, the war in Ukraine, COVID-19 variants and other COVID-related disruptions. Over the course of its long-term outlook, the Company expects the recovery of retail environment strength to pre-pandemic levels, decrease in inflationary pressures to normalized levels and stability of other economic factors in the regions in which the Company operates.

The financial outlook for fiscal 2028 and related long-term targets also incorporate the Company’s previously announced fiscal 2023 financial outlook. Please refer to the press release issued on February 2, 2023 under “Full Year Fiscal 2023 Outlook” for a description of the material factors and assumptions used to develop financial outlook for the Company’s ongoing 2023 fiscal year.

The financial outlook for the Company’s ongoing 2023 fiscal year and financial outlook for the Company’s 2028 fiscal year and related long-term targets excludes certain anticipated restructuring related and other net charges as described under (or as incorporated by reference under) “Non-IFRS Financial Measures and Other Specified Financial Measures”.

Investor Day Webcast

The investor meeting will be streamed live and can be accessed on the Company’s Investor Relations website at http://investor.canadagoose.com beginning at 10 A.M. Eastern Standard Time on Tuesday, February 7, 2023. A replay of the event and presentation materials will be available on the website for approximately one year after the event. The Company will present its strategic growth plan, and several members of management will speak including:

Dani Reiss, Chairman and CEO; Penny Brook, Chief Marketing and Experience Officer; Carrie Baker, President; Paul Cadman, President Asia Pacific; Ana Mihaljevic, President North America and Executive Vice President Sales Operations and Planning; Woody Blackford, Chief Product Officer; John Moran, Chief Operating Officer; and Jonathan Sinclair, Executive Vice President and Chief Financial Officer.

About Canada Goose

Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com for more information.

Forward-Looking Information

This press release contains forward-looking statements, including statements that refer to expectations, intentions, projections or other characterization of future events or circumstances contained in this press release. These statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Forward-looking statements can be identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “predict,” “project,” “potential,” “should,” “will,” “would,” and other similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. They appear in many places throughout this press release and include statements regarding our intentions, beliefs, or current expectations concerning, among other things, our results of operations, financial condition, business prospects, expectations regarding industry trends and the size and growth rates of addressable markets, our business plan, and our growth strategies, including plans for expansion to new markets and new products and expectations for seasonal trends. The financial outlook for the Company’s ongoing 2023 fiscal year and financial outlook for the Company’s 2028 fiscal year and related long-term targets also constitute forward-looking information as described above under “Long-Term Financial Outlook”.

Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Certain assumptions made in preparing the forward-looking statements contained in this press release include: our ability to continue operating our business amid the societal, political, and economic disruption caused by the ongoing COVID-19 pandemic and recent and ongoing geopolitical events; limited disruption to our DTC channel, including store closures, however caused, including due to recent and ongoing geopolitical events, the COVID-19 pandemic and economic disruptions or other events; our ability to implement our growth strategies; our ability to maintain strong business relationships with our customers, suppliers, wholesalers, and distributors; our ability to keep pace with changing consumer preferences; our ability to protect our intellectual property; and the continued absence of material global supply chain disruptions to our business and ability to fulfill demand and maintain sufficient inventory levels, which we continue to monitor; and the absence of material adverse changes in our industry or the global economy. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We believe that these risks and uncertainties include, but are not limited to, those described in the “Risk Factors” section of our Annual Report on Form 20-F for the year ended April 3, 2022 and those referred to under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Factors Affecting our Performance” in our Management’s discussion and analysis of financial condition and results of operations for the third and three quarters ended January 1, 2023 (“Q3 2023 MD&A”). These risks are not exhaustive and other unknown and unpredictable factors could also have a material adverse effect on the performance or results of the Company.

Although we base the forward-looking statements contained in this press release on assumptions that we believe are reasonable, we caution readers that actual results and developments (including our results of operations, financial condition and liquidity, and the development of the industry in which we operate) may differ materially from those made in or suggested by the forward-looking statements contained in this press release. Additional impacts may arise that we are not aware of currently. The potential of such additional impacts intensifies the business and operating risks which we face, and these should be considered when reading the forward-looking statements contained in this press release. In addition, even if results and developments are consistent with the forward-looking statements contained in this press release, those results and developments may not be indicative of results or developments in subsequent periods. As a result, any or all of our forward-looking statements in this press release may prove to be inaccurate. No forward-looking statement is a guarantee of future results. Moreover, we operate in a highly competitive and rapidly changing environment in which new risks often emerge. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements. You should read this press release and the documents that we reference herein completely and with the understanding that our actual future results may be materially different from what we expect. The forward-looking statements contained herein are made as of the date of this press release (or as of the date specifically indicated), and we do not assume any obligation to update any forward-looking statements except as required by applicable laws. For greater certainty, references herein to “forward-looking statements” include “forward-looking information” within the meaning of Canadian securities laws.

Non-IFRS Financial Measures and Other Specified Financial Measures

This press release includes certain financial measures that are “non-IFRS financial measures” and certain financial measures that are “non-IFRS ratios”, including adjusted EBIT margin. These financial measures are employed by the Company to measure its operating and economic performance and to assist in business decision-making, as well as providing key performance information to senior management. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the Company’s operating and financial performance. These financial measures are not defined under IFRS nor do they replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures.

Additional information including definitions of non-IFRS financial measures and other specified financial measures and reconciliations of non-IFRS financial measures to the nearest IFRS measure can be found under the heading “Non-IFRS Financial Measures and Other Specified Financial Measures” in our Q3 2023 MD&A, as filed on SEDAR at www.sedar.com and with the SEC at www.sec.gov , which section is incorporated by reference in this press release.

The Company is not able to provide, without unreasonable effort, a reconciliation of the guidance for non-IFRS adjusted EBIT to net income, the most directly comparable IFRS measure, because the Company does not currently have sufficient data to accurately estimate the variables and individual adjustments included in the most directly comparable IFRS measure that would be necessary for such reconciliations, including (a) income tax related accruals in respect of certain one-time items (b) the impact of foreign currency exchange and (c) non-recurring expenses that cannot reasonably be estimated in advance. These adjustments are inherently variable and uncertain and depend on various factors that are beyond the Company's control and as a result it is also unable to predict their probable significance. Therefore, because management cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results in accordance with IFRS, it is unable to provide a reconciliation of the non-IFRS measures included in the forward-looking guidance included herein.

1 See “Non-IFRS Financial Measures and Other Specified Financial Measures”. Operating income as a percentage of revenue was 14.3% for the fiscal year ended April 3, 2022 2 EMEA comprises Europe, the Middle East, Africa and Latin America 3 See “Non-IFRS Financial Measures and Other Specified Financial Measures”. Operating income as a percentage of revenue was 14.3% for the fiscal year ended April 3, 2022.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005261/en/

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eTail Toronto 2024

September 25 - 26, 2024

Hyatt Regency Toronto, ON

Canada Goose “Goes Retail” with Latest Marketing Strategy

It’s becoming something of a global phenomenon. Increasingly, more and more brands are deciding to spread their wings and “go retail”, either by opening online stores or, as is the case with Canada Goose , actual physical locations on the high street.

The world’s leading maker of Arctic luxury apparel opened its first two retail stores in the fall of 2016 – the first at Toronto’s Yorkdale mall, and a second in New York City. The move into bricks-and-mortar follows the successful launch of the company’s ecommerce site just twelve months previously – and it’s something that we’re seeing more and more of.

Nike, Apple, Amazon, Under Armour, Lindt & Sprungli – the list goes on and on. What’s perhaps most interesting to note, however, is the growing number of pure online players that are moving into the bricks-and-mortar space. Birchbox, Bonobos , and Warby Parker all come readily to mind when we think about such online-to-offline expansions .

The question, then, is what is the incentive for such wide-scale adoptions of the “going retail” strategy?

Why Go Retail?

For one thing, providing customers with a physical location in which they are able to shop, play, learn and develop an emotional connection with the brand is a pretty darn good reason in itself. Indeed, such opportunities are almost impossible to supply when dealing through online channels alone.

But, as the Elbetoft Group’s latest report – ‘ Brands Going Retail ’ – reveals, “going retail” offers brands many other significant benefits. When focussing on an in-store space, selling only a single brand of merchandise (their own), brands are finding that they have much more control over their marketing, their image, and the experiences of their shoppers.

In addition, brands with their own retail space find that they are able to sell a broader range of goods to customers and increase their margins. Data collection , new product testing, and greater independence from third-party retailers are also revealed as notable advantages.

A Marketing Investment

Canada Goose’s expansion into retail with just two stores signifies that the move isn’t simply about opening up a couple of new channels that will enable a few more sales. As Retail consultant Jim Danahy, CEO of CustomerLAB, observes , flagship stores are often used by manufacturers "in order to show the full array of products since many retailers don't carry the full array.”

He adds that “Time will tell whether [Canada Goose] are using bricks and mortar retail as a significant sales channel. When you only open a couple … that's more marketing than it is sales."

Indeed it is. As President and CEO Dani Reiss explains , the new stores are not meant to detract from the core model of the Canada Goose business.

“We’re a global brand. […] When we have these gathering places for Canada Goose fans, it builds and adds to the global halo of the brand. Wholesale is a very important part of our business, and it will continue to be important. But we are able to create the perfect experience and the perfect reflection of the Canada Goose brand.”

[Source: Canada Goose ( @canadagoose )]

The new stores serve to deliver an experiential environment featuring the company’s heritage and culture, a full assortment of all seasonal collections, and world-class service. They feature Arctic imagery as well as photographs and stories of the “Goose People” – the adventurers who act as spokespeople for the brand, lending authenticity to the overall brand message. Reiss says that he sees the stores as a marketing investment.

“We’re not looking to go to 150 stores tomorrow. We’re not becoming a retailer, specifically,” he said, though adding that the company does hope to open more in the future. “It will be important to open stores in places where there are large concentrations of Canada Goose fans … there are lots of potential markets for that.”

Spreading Those Retail Wings

Canada Goose is targeting three more stores in 2018, with the long-term goal being a network of around 15 to 20 stores. “We’re going to open stores in the best and biggest and most vibrant cities in the world,” Reiss said in the Financial Post , citing Tokyo and Paris as examples. “As we build the direct-to-consumers channel, as we lead with e-commerce, it’s also important to have some stores”.

Indeed, as Canada goose seeks to expand more internationally, the company has been spending a lot of extra dollars on marketing initiatives. This includes a video marketing campaign, which featured a short film by Hollywood director Paul Haggis. The video attracted about 1.5 million views on YouTube alone.

But, the company says that when factoring in the campaign’s website, paid placement, and Facebook promotions, the video was viewed more than 30 million times and increased web search traffic for Canada Goose by 500%. View it below.

Flightpath to the Future

“Going retail” for Canada Goose doesn’t mean that it is completely changing its business model. Rather, the new stores are just part of a growing marketing initiative as the company seeks to reach new customers and expand to a global market.

In the end, Canada Goose has realised that it’s not just wholesale, not just digital, and not just retail that marks out a flightpath to the future, but a fusion of all three. The last word goes to Reiss.

“There’s a lot of talk about e-commerce and ‘omni-channel’ [sales] and people are starting to recognize that bricks-and-mortar stores are the foundation of that. The future is not just online or just bricks and mortar. It’s a combination.”

Make sure to also  download the eTail Canada agenda  to check out all of the great activities, speakers, & sessions planned for this year.

About John Waldron: John Waldron is a technology and business writer for markITwrite digital content agency, based in Cornwall, UK. He writes regularly across all aspects of marketing and tech, including SEO, social media, FinTech, IoT, apps and software development.