Canada Goose sales soared unexpectedly this past quarter, returning the luxury parka purveyor to growth first time since the pandemic began.
Increasing online sales, store expansions in China, and expanding product diversification ushered the company’s third-quarter revenues to $474 million, up from $452.1 million a year earlier with a profit of $107 million. In addition to the return of the puffer jacket as a fashion trend, Tmall, an online Chinese language e-commerce website contributed to Canada Goose’s success during the quarter. Finally, the coat maker launched its new Standard Expedition Parka recently, its biggest push into sustainable fashion.
Before the boost, the brand had seen better days, having received mixed rankings between Challenged and Average amongst Gartner’s Digital IQ Index: Activewear and Gartner’s Digital IQ Index: Luxury. That said, because Canada Goose markets itself as both an activewear and a luxury apparel brand, it’s possible that its lack of nicheness lead to some confused consumers. That in mind, it’s no wonder that the most popular puffer jacket of the moment is from none other than The North Face, a staunchly activewear apparel brand. Given that athleisure experienced a surge in popularity amidst lockdowns, this makes sense. Unsurprisingly, The North Face scored a Gifted position in Gartner’s ranking this year.
If Canada Goose really wants to get a wing up on its surprising success without potentially comprimising its luxury image, it might want to continue leaning into sustainability—another one of this year’s biggest trends.