Canada Goose has taken a big coronavirus hit, but the president and ceo wants to take advantage of the “opportunity” in the market.
And even though Canada Goose Holdings has taken a big coronavirus hit, the president and chief executive officer is looking to take advantage of the “opportunity” in the market so the brand, which was hot before the pandemic, comes “through the other side stronger.”
The wholesale channel accounted for 74.2 percent of Canada Goose’s sales in the quarter and the company said shipments were “materially lower” as stores reopen. “Through all of this we’ve not been promotional,” Reiss said of the COVID-19 shutdown and slow restart. “We’ve not discounted any product. It’s important to build a strong brand and maintain our identity, and I think that through this we’ve done that.”
It could be a little glass half full, but part of that means ramping up digital capability — something most brands are doing — and expanding in China, which is a bright spot in the consumer world right now. The move in China could help Canada Goose avoid some of the pain of what is expected to be a nearly complete shutdown in tourism as people stay close to home to social distance or simply avoid outbreaks abroad.
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