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Following reports that Canada Goose would quietly file a dual IPO in both Toronto and New York City, the brand officially did so today.
Official documents submitted to the US 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.
Also, and perhaps most importantly, it calls its brand ambassadors Goose People: select “adventurers, athletes, scientists and artists who embody our values and lifestyle, stand for something bigger than themselves, and inspire others through epic adventures and accomplishments.”
Buried deep inside its IPO filing is another delightful detail: Canada Goose wants to get into bedding. Your coat is now your bed is now your coat!
In the section that talks about enhancing its product offering, the brand writes that it wants to “elevate winter” (LOL) and “extend beyond outerwear,” which frankly makes sense, since its costly winter coats are pretty useless for most people after the winter months, unless you live in Alaska or the Arctic. And if you need a Canada Goose coat, you probably have one; no one needs two.
“Consumer surveys conducted on our behalf indicate that our customers are looking for additional Canada Goose products, particularly in key categories such as knitwear, fleece, footwear, travel gear and bedding,” the brand writes. “We believe offering inspiring new products that are consistent with our heritage, functionality and quality represents an opportunity to develop a closer relationship with our customers and expand our addressable market.”
Canada Goose has already tried to tackle this problem. In 2015, it began debuting spring collections, and CEO Dani Reiss previously told Racked that “as outerwear specialists we know what consumers need to protect themselves against the elements,” and so its spring assortment “is designed to handle anything Mother Nature throws at you."
That said, bedding is truly a whole new animal (do you see what I did there? Because PETA). Will it enter the category via linen? Or will it take its fur and feather proficiency one step further and make fluffy down comforters? And, most importantly, will it have a fox fur collar?