TORONTO & TOKYO — March 22, 2022 — Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) and longstanding partner Sazaby League Ltd. (“Sazaby League”) have entered into an agreement to create the joint venture Canada Goose Japan, with plans to accelerate DTC expansion, including retail stores.
This agreement will replace an exclusive national distributor arrangement between Sazaby League and Canada Goose. Commencing in April, existing distribution will be assumed by the joint venture, of which each partner will own 50 per cent. Current distribution includes a permanent Canada Goose retail store in Tokyo, a national e-Commerce site, as well as wholesale points of distribution across the country. The new operating model is expected to significantly increase revenue and gross profit per unit from the existing business. Canada Goose Japan is also expected to generate C$60m – C$65m in total revenue in fiscal 2023, which is roughly double the contribution from this market in fiscal 2022.
“Japan is one of the world’s largest and most influential luxury markets and has long been an important consumer market for Canada Goose,” said Dani Reiss, President & CEO, Canada Goose. “This new agreement sets the stage for the acceleration of our growth in Japan, across both DTC and wholesale. We are excited to expand our existing operations with Sazaby League and know their successful history building strong consumer brands in the market will help drive us forward.”
“We are proud to partner with Canada Goose and to be part of their continued growth in Japan,” said Yoji Hirai, CEO Canada Goose Japan. “Canada Goose is a global performance luxury lifestyle brand, known for their unparallel product and industry-leading sustainability commitments. We look forward continuing to tell their story in Japan and are excited about the future together.”
Posted: March 23, 2022
Source: Canada Goose Holdings Inc.