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Canada Goose (GOOS) acquires Paola Confectii Manufacturing, a longstanding knitwear supplier, to support the growing apparel category. This marks the company’s first European facility and is expected to enhance product margins and supply control, while deepening in-house product expertise. Knitwear is a leading segment of the growing Apparel category, which exceeded $70 million in annual sales in fiscal 2023.
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Performance luxury brand acquires longstanding knitwear supplier to support growing apparel category
TORONTO--(BUSINESS WIRE)--
Today, Canada Goose announces the acquisition of the operating assets of Paola Confectii Manufacturing. Building upon our existing network of seven facilities across Canada, this acquisition marks the company’s first European facility, and supports our Strategic Growth Plan, specifically expanding existing categories and increasing year-round relevance.
Based in Romania, Paola Confectii has been a trusted partner in manufacturing luxury knitwear for Canada Goose since its launch in 2017, producing a range of best-selling styles including the HyBridge Knit Jacket. Knitwear is one of the leading segments of our growing Apparel category, which exceeded $70 million in annual sales in fiscal 2023. This closer partnership is expected to enhance product margins and supply control, while deepening in-house product expertise.
“Our vertically integrated supply chain has always been one of our core competencies. This strategic investment advances our renowned manufacturing infrastructure and validates the performance luxury brand we are today,” said Dani Reiss, Chairman and CEO, Canada Goose. “It also demonstrates the confidence we have in our emerging categories and our plans to develop these categories into even more meaningful contributors to our business.”
Our core down-filled products will continue to be proudly made in Canada, while apparel production will continue to be concentrated within best-in-class European facilities. As we’ve evolved and introduced new categories, we’ve strategically welcomed new world-class partners from different parts of the globe who share our values and commitment to craftsmanship.
Paola Confectii will continue to be led by Giannino Lessi, General Manager, and Paola Zaffalon, Technical Director, as a standalone entity, maintaining regular operations.
About Canada Goose
Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com for more information.
Canada Goose announced the acquisition of the operating assets of Paola Confectii Manufacturing, a longstanding knitwear supplier, to support the growing apparel category.
What is the significance of this acquisition for Canada Goose (GOOS)?
This acquisition marks Canada Goose's first European facility, supporting their Strategic Growth Plan to expand existing categories and increase year-round relevance. It is expected to enhance product margins and supply control, while deepening in-house product expertise.
What is the sales performance of the Apparel category for Canada Goose (GOOS)?
The Apparel category exceeded $70 million in annual sales in fiscal 2023, with knitwear being one of the leading segments of this growing category.
Who will lead Paola Confectii after the acquisition by Canada Goose (GOOS)?
Paola Confectii will continue to be led by Giannino Lessi, General Manager, and Paola Zaffalon, Technical Director, as a standalone entity, maintaining regular operations.
want to be a part of something awesome? at canada goose, the people we work with are just as important as the products we make. as one of the world’s leading manufacturers of outdoor luxury apparel, we surround ourselves with people who strive to be the best at what they do—and enjoy doing it. you don’t need to summit mount everest or journey to the south pole to work at canada goose, but you do need to share the passion for adventure that’s held by those who embrace life to its fullest. as we continue to spread our wings at home and around the globe, we’re seeking creative and collaborative people to join our team. do you have what it takes to become a goose person? we want to hear from you! the perks of being a goose person. our stunning, open-concept global headquarters in toronto includes a large cafeteria, private gym and beautiful showroom. when we’re not hard at work, we like to unwind at sporting events, bbqs, film festivals and friday morning breakfasts. not in toronto? our in
