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Canada Goose files for an IPO in the USA and Canada

17 February, 2017, 00:22 | Author: Paula Vaughn
  • Canada Goose brand parkas in a store in New York

Canada Goose, backed by Bain Capital, is known for its trademark $900 parkas with coyote fur-lined hoods.

The 60-year-old company - known for its down-filled jackets with coyote fur hoods like the £950 Expedition Parka - filed for a listings in NY and its home town of Toronto. Shares will trade on both the NYSE and Toronto Stock Exchange under the ticker symbol "GOOS".

The company issued a $100m (£80m) placeholder filing, but could raise as much as $300m, valuing the company at $2bn, according to Bloomberg news.

Official documents submitted to the U.S. Securities & Exchange Commission reveal some pretty fascinating details about the purveyor of luxury puffer coats, like the fact that it made a whopping $290.8 million in revenue in fiscal 2016, or that it's pulled executives from Marc Jacobs, Nike, and Red Bull. That was up from $14.4 million in net income on $218.4 million in revenue a year earlier.

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Canada Goose was founded 60 years ago.

Starting in Toronto, the brand now has a presence in 36 countries across the globe through a wide network of about 2500 wholesalers. Risks to the business include the expense of expanding into new markets and competition.

In 2013, when Bain acquired a majority stake in Canada Goose, the company was valued at about $250 million, people familiar with the matter have said.

The Canadian bank CIBC Capital Markets scored the lead advisory role, with Credit Suisse, Goldman Sachs, and RBC Capital Markets also on the deal.

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