Canada Goose Acquires First European Manufacturing Facility
Performance luxury brand acquires longstanding knitwear supplier to support growing apparel category
TORONTO, November 28, 2023--(BUSINESS WIRE)--Today, Canada Goose announces the acquisition of the operating assets of Paola Confectii Manufacturing. Building upon our existing network of seven facilities across Canada, this acquisition marks the company’s first European facility, and supports our Strategic Growth Plan, specifically expanding existing categories and increasing year-round relevance.
Based in Romania, Paola Confectii has been a trusted partner in manufacturing luxury knitwear for Canada Goose since its launch in 2017, producing a range of best-selling styles including the HyBridge Knit Jacket. Knitwear is one of the leading segments of our growing Apparel category, which exceeded $70 million in annual sales in fiscal 2023. This closer partnership is expected to enhance product margins and supply control, while deepening in-house product expertise.
"Our vertically integrated supply chain has always been one of our core competencies. This strategic investment advances our renowned manufacturing infrastructure and validates the performance luxury brand we are today," said Dani Reiss, Chairman and CEO, Canada Goose. "It also demonstrates the confidence we have in our emerging categories and our plans to develop these categories into even more meaningful contributors to our business."
Our core down-filled products will continue to be proudly made in Canada, while apparel production will continue to be concentrated within best-in-class European facilities. As we’ve evolved and introduced new categories, we’ve strategically welcomed new world-class partners from different parts of the globe who share our values and commitment to craftsmanship.
Paola Confectii will continue to be led by Giannino Lessi, General Manager, and Paola Zaffalon, Technical Director, as a standalone entity, maintaining regular operations.
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.
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Contacts
Media: media@canadagoose.com
Investors: ir@canadagoose.com
