Rise and rise of Canada Goose: Big challenges lay ahead for fast growing luxury apparel brand
Despite being in business for over six decades, the rise of Canada Goose came seemingly out of nowhere. Rapid growth over the past few years has seen the company go from relatively unknown beyond niche groups to being worn by high-profile celebrities and the wealthy. Having achieved notoriety as a desirable brand at the heart of conspicuous consumption, the continued growth of Canada Goose relies upon the company overcoming a series of challenges. Although some matters are beyond control, signs are the Toronto-based firm is making the correct decisions to continue double-digit growth for the immediate future.
By kitting out entire film crews and casts working in cold climes, Canada Goose successfully launched the brand into the consciousness of the wealthy and famous.
Branching out into physical stores marks a key time in the transition the company hopes to complete, from market intruder to established presence.
A problem for a luxury brand that suddenly strikes widespread popularity is the danger of consumers over spending to gain access to the product range.
- Explores how the sudden growth occurred.
- Examines the problems caused by counterfeits.
- Looks at social attitudes towards the use of fur in apparel.
- Assesses the importance of new product lines to continued success.
- Explores the development of physical stores.
- Examines how much the company is dependent upon consumer debt.
Reasons to buy
- How did the luxury brand strike mainstream success?
- What are the threats to future growth?
- Will physical stores keep the company growing?
- Can new product lines repeat earlier successes?
Hollywood cachett provided Canada Goose extensive celebrity exposure 6
Movie stars granted Canada Goose exclusivity, fertilizing desirability 6
Relationship with film festivals attaches Canada Goose brand to rich and famous 7
Conventional advertising has proven to be highly impactful in push for widely viewed coverage 8
Product line development key to future sales growth 9
Expansion in product lines needs to be successful for long-term future 9
History shows expansion of luxury brands is a risky business undertaking 10
Greater number of products makes keeping focus on main goals harder 11
Opening Canada Goose stores represents potentially lucrative future 12
Store location selection critical for success of expansion plans 12
Inserting luxurious traits into physical stores is the correct expansion strategy 13
History suggests Canada Goose must be cautious about brand expansion 15
Consumer debt demands expansion must not be too rapid or brand will dilute 15
German car manufacturing industry revealed how to spread luxury brands without harming desirability 15
Continued use of fur presents significant long-term problems 17
Growth was dependent upon views towards fur slackening it may not remain so 17
Using fur creates business problems with potential to damage public image 18
Protestors have become commonplace at store openings more are expected 19
Counterfeits remain a threat against brand security but are diminishing 20
Global counterfeit industry is substantial, exerting pressure on luxury brands 20
Efforts directed towards educating public in fake spotting will help consumer confidence on vital issue 21
Success of Canada Goose down to clever strategy but challenges remain to secure expansion 22
Further Reading 23
Ask the analyst 24
About MarketLine 24
List of Figures
Figure 1: Daniel Radcliffe on the set of Kill Your Darlings 7
Figure 2: Canada Goose at Sundance Film Festival, 2017 8
Figure 3: Canada Goose revenues 2014 to 2017 (CADm) 9
Figure 4: Mens OVO Chilliwack Bomber 2016 10
Figure 5: Canada Goose revenue breakdown (CADm) 12
Figure 6: Canada Goose London store 13
Figure 7: BMW 3 Series 16
Figure 8: Anti-fur campaign poster 17
Figure 9: Canada Goose Chateau Parka 18
Figure 10: Canada Goose fake (left) and genuine (right) contrast 20
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