// Canada Goose plans to more than double its retail footprint as part of its new five-year strategic plan
// The luxury fashion retailer will also be adding new categories including eyewear, luggage and home
Canada Goose has unveiled some ambitious goals as part of its new five-year strategic plan, focusing on three growth pillars.
The luxury fashion retailer‘s first is to accelerate consumer-focused growth, growing the lifetime value of the brand’s longstanding and new customers with a focus on women and Gen Z.
Secondly, it aims to build its direct-to-consumer network by more than doubling its retail footprint from its current 51 permanent stores by the end of Q3 of fiscal year 2023, “while continuing to grow our digital presence, both through omnichannel and online,” it said.
The third pillar aims to create new and expand existing categories, “rapidly” – including in heavyweight and lightweight down and accelerated growth of newer categories such as rainwear, apparel and footwear – as well as adding new categories including eyewear, luggage and home.
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Canada Goose chairman and chief executive Dani Reiss said: “Today, Canada Goose is recognised around the world as a performance luxury lifestyle brand, known as a global leader in warmth and protection. Our products are iconic, our style is enduring and our brand has never been stronger. Looking ahead, we see incredible opportunity to continue the revenue growth trajectory we have experienced since the time of our IPO and deliver increasing rates of profitability.
“As we grow, we will expand our categories, geographies and capabilities with a keen eye towards investing where we see a high return, protecting our brand and delivering high quality, profitable growth.
“As I look at the next five years, I am confident in our long-term financial plan, introduced today, to reach $3bn in revenue, and an adjusted EBIT margin of 30% through the execution of our three strategic growth pillars.”
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