Canada Goose has appointed highly respected executive Christian Konrad as Senior Vice President of Travel Retail Worldwide amid a concerted expansion drive in what the company has identified as a key growth channel.
Founded in Toronto over 65 years ago, Canada Goose has grown into one of the world’s leading makers of performance luxury apparel, driven by its core down-filled product made in Canada.
The company currently has travel retail doors at the cdf Haikou International Duty Free Shopping Complex in Hainan province (pictured below) and with DFS Group in Macau and is targeting key global airport hubs and selected downtown stores for further expansion.
The brand plans to offer travel retailers an assortment of its top-performing styles from best-selling categories in a store format.
Konrad, who joined the company last month, has more than 20 years’ experience in the luxury sector. Prior to joining Canada Goose, he served as Vice President of Henry T. Segerstrom Management, where he was responsible for project development. Earlier, he spent nearly 25 years at Bvlgari across a variety of roles.
As President of Latin America & the Caribbean, Konrad managed the Bvlgari brand for the region across multiple product categories including jewellery, watches, accessories and perfumes.
During his tenure at the Italian luxury house, he gained experience in finance, marketing, business development and commercial strategy, as well as travel retail channel management. That experience strengthened his knowledge of how to develop brands in various distribution channels, including travel retail, Canada Goose noted.
“Travel retail is a new and particularly fitting channel for Canada Goose as we continue our trajectory towards our five-year strategic growth plan,” said Canada Goose President, APAC & Travel Retail Worldwide Paul Cadman.
“We are embracing the opportunity of travel retail to meet our luxury consumers where they are – and bring more Canada Goose to more of the world. This year, we will open at least two travel retail shops within Europe, Middle East and Asia, with continued international expansion in the coming years.
“As a performance luxury lifestyle brand, our products inspire consumers to ‘Live in the Open’ and truly explore the world around us. By engaging with consumers across the busiest travel hubs, we can seamlessly equip them with the products they need to carry on their journey and thrive in the world outside,” Cadman concluded. ✈
Canada Goose posts strong growth for fiscal 2023; Bullish on 2024Canada Goose Holdings Inc (Canada Goose) today announced strong financial results for the fourth quarter ended 2 April. Total Q4 revenue rose +31.4% year-on-year (reported; +30.1% on constant currency), driven by strong growth from Asia Pacific (including the key China market) and EMEA of +65.4% and +27.3%, respectively.
The company said it expects stronger growth in fiscal 2024 revenue and profitability metrics. The growth in lightweight down (vests and jackets) and the introduction of new categories during this and coming years – including sneakers, eyewear, travel and apparel – augurs well for the company’s travel retail ambitions mentioned above. “I am pleased with our fourth-quarter results, particularly the strong revenue results generated in Greater China and EMEA,” said Chairman and CEO Dani Reiss.  “This is a testament to the strength of the brand and this momentum has continued alongside early encouraging results in North America in fiscal 2024 year to date. “Lastly, I am excited by the progress our global teams have made in advancing our strategic growth pillars – to accelerate consumer-focused growth, build out DTC, and create new and expand product categories rapidly. “We remain confident in our ability to execute and leverage these pillars, and we continue to build our brand strength to generate profitable growth, sustainable over the long term.” Reiss said that in line with Canada Goose’s strategic plan to fiscal 2028, the company intends to execute on three strategic growth pillars. 1) Accelerate consumer-focused growth: Canada Goose sees significant opportunity to grow lifetime value of longstanding and new customers with a focus on women and Gen Z. It plans to reallocate marketing investments to drive greater return on investment, conversion and ultimately lifetime value. 2) Build the Direct to Consumer (DTC) network: Canada expects to more than double its retail footprint from the 51 permanent stores at the end of Q4 fiscal 2023 by the end of fiscal 2028 while continuing to grow its digital presence, both through omnichannel and online. In fiscal 2024 the company is targeting 16 new permanent store openings, concentrated in Mainland China, the USA and Japan, the vast majority of which it expects to be operational in the second half of the year. 3) Create new and expand existing categories rapidly: Canada Goose intends to deliver year-round relevance consistent with its position as a performance luxury lifestyle brand. By the end of fiscal 2023, it had diversified its product mix such that non-heavyweight down sales represented 42.9%, up from 38.5% in fiscal 2022.  The company expects continued growth in all categories, including in heavyweight and lightweight down and accelerated growth of newer categories such as rainwear, apparel and footwear. The addition of further categories including eyewear, luggage and home will inject additional impetus. Canada Goose expects to launch sneakers this summer, targeting the discerning ‘sneakerhead’, though broader customers will also enjoy a shoe that can be worn all-year round, the company pledged. In early fall, new collections of hyper-feminine styles, ultra-flattering shaping and silhouettes as well as comfortable and new fabrics designed to transition throughout the fall and winter seasons are anticipated. |
