Published: Fri, February 17, 2017
Money | By Oscar Reynolds

Canada Goose files for an IPO

Canada Goose files for an IPO

After a dismal market for IPOs in 2016, the TSX is readying its second major IPO already in 2017.

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. In 2016, the manufacturer said they brought in almost $291 million in revenue, with more than $100 million of that sum coming from the U.S. Canada Goose initially launched in 2015, and opened its first retail store in NY previous year. The company will be valued at approximately $2 billion.

The Canadian clothing maker launched its national e-commerce platform in 2015 and then opened its first USA retail store in NY late past year.

Canada Goose is going after the public markets. Over the past three years, revenue grew at a compound annual rate of 38.3 percent, the filing shows, while net income nearly tripled over the same period. That compares to revenue of just $152 million in 2014. It will also open more stores in major cities and in premium locations.

"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.

Bain Capital has a majority ownership stake in the company and will continue to do so even after the IPO, according to sources close to the company.

Canada Goose was founded 60 years ago. It's been a nice investment for Bain.

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