Canada Goose shifts from practical outerwear to luxury brand as it faces market challenges

Canada Goose has transformed from a manufacturer of practical cold-weather gear to a luxury brand known for its high-priced parkas. The company, valued at about $1 billion, has seen sales growth but faces challenges, including a decline in stock and reliance on the Chinese market. Founded in 1957, Canada Goose initially produced utilitarian outerwear. Under CEO Dani Reiss, who took over in 2001, the brand gained visibility through celebrity endorsements and strategic marketing, leading to its luxury status. However, recent stock performance has raised concerns. To address these challenges, Canada Goose is focusing on direct-to-consumer sales and diversifying its product line. While non-parka sales have increased, the brand still heavily relies on winter jackets for revenue. The appointment of a new creative director aims to attract more customers.