Canada Goose Brings Recommerce to Life in Canada and Achieves Sustainability Milestones
Canada Goose Generations expansion comes as brand reports nearly 45% YOY reduction in carbon footprint
TORONTO, July 27, 2023 /PRNewswire/ - Today, Canada Goose launched its recommerce platform – Canada Goose Generations – in Canada. Putting the company's purpose to keep the planet cold and the people on it warm into action, Generations invites consumers to trade in and purchase pre-loved Canada Goose outerwear and apparel directly from the performance luxury brand. Generations directly supports Canada Goose's Sustainable Impact Strategy, helping achieve its annual warranty waste goal, which is outlined in the company's Environmental, Social and Governance (ESG) Report, also released today.
Canada Goose is celebrated for its uncompromised Canadian craftsmanship, manufacturing function-first products that withstand the elements and the test of time. This latest sustainable endeavour, which debuted in the United States earlier this year, tangibly gives new life to its products and keeps quality pieces in circulation for decades. Consumers trade in their Canada Goose products via Generations' online portal. Once they're sent in, assessed, and authenticated, consumers will then receive a Canada Goose gift card. Powered by Trove, the industry leader in branded resale, Generations offers an assortment of renowned styles, iconic heritage pieces, coveted collaborations, and exclusive vintage items pulled from its 65+ year archive.
"Canada Goose Generations is a perfect expression of what luxury means today and defines a more sustainable tomorrow," said Carrie Baker, President of Canada Goose. "Meticulously crafted in Canada with the best materials, our products are uniquely positioned to be re-discovered and loved for a second, third and fourth time. Bringing Generations to our home market presents a meaningful opportunity for us to connect and reconnect with long-time customers in an exciting new way."
This year's ESG Report is an important milestone in Canada Goose's sustainability journey, reaching goals in advance of their target year, making significant strides in evolving its business and operations, and beginning to set its sights beyond 2025. Highlights from the ESG Report include:
MANUFACTURING & OPERATIONS
Canada Goose reduced its scope 1 and 2 emissions by nearly 45% year-over-year by investing in global renewable energy credits that address wind, hydroelectricity and solar power, and retrofitting its manufacturing plants.
As it looks ahead, Canada Goose is measuring its scope 3 emissions and planning to set targets by the end of its current fiscal year, FY 2024.
Canada Goose achieved its goal to divert 100% of its annual warranty waste through Canada Goose Generations, the Canada Goose Resource Centre Program and the Canada Goose Response Program.
MATERIALS
Canada Goose transitioned over 75% of its materials to Preferred Fibres and Materials (PFMs). PFMs include those that are recycled, organic, natural, bio-degradable and plant-based.
Canada Goose is committed to eliminating per- and polyfluoroalkyl substances (PFAS) from all of its products. The company has accomplished its goal to purchase PFAS free Arctic Tech – its proprietary fabric, used in the majority of parka styles – months ahead of schedule and with that phase completed, announced new goals:
Almost 90% of Canada Goose's packaging has been transitioned to more sustainable solutions.
"This ESG Report focuses on key issues in our industry and around the world – from material innovation to reducing our carbon footprint to our Human Rights policy," said Gavin Thompson, Senior Vice President of Corporate Citizenship, Canada Goose. "We continue to actively transform our business, while remaining true to our purpose to keep the planet cold and the people on it warm. I'm proud of our employees and thankful to our partners, who join us in our commitment to this purpose."
Generations and the annual ESG Report are part of the company's purpose platform, HUMANATURE, which unites its sustainability and values-based initiatives. To learn more about HUMANATURE, visit CanadaGoose.com/sustainability.
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.
About Trove
Trove is the market leader in branded resale and trade-in for world-class brands and retailers such as Canada Goose, lululemon, Patagonia, REI, Levi's, Arc'teryx, Allbirds, and more. Through its proprietary Recommerce Operating System, Trove is accelerating the shift toward more sustainable business models, foundational for circularity. Over the last decade, Trove has equipped leading brands with technology and operations to create and scale branded resale programs by enabling customer trade-in of items, single-SKU identification and condition grading, site build and maintenance, and customer data collection, analytics and reporting. A Certified B Corporation, Trove is pioneering a new era of retail essential to a more sustainable future. To learn more, visit Trove.com.
Cautionary Note Regarding Forward-Looking Information
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters and are necessarily based on a number of opinions, estimates and assumptions that we considered appropriate and reasonable as of the date of this press release. In particular, this press release contains forward-looking statements including, without limitation, with respect to (i) our sustainable impact strategy and vision; (ii) the goals underlying our strategy and our plans to advance such goals; (iii) our plans to manage our environmental impact, including our greenhouse gas emission target, our pledge to convert to Preferred Fibres and Materials and eliminate per- and polyfluoroalkyl substances from our products, our pledge to convert to sustainable packaging and our commitment to reducing carbon emissions; and (v) the estimated timing to achieve environmental, energy and waste reduction targets.
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 on our operations of the current global economic conditions and their evolution, and are discussed under "Cautionary Note regarding Forward-Looking Statements" and "Factors Affecting our Performance" in our Management's Discussion and Analysis as well as under "Risk Factors" in our Annual Report on Form 20-F for the year ended April 2, 2023. 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.
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SOURCE Canada Goose
