Canada Goose expands into footwear via acquisition
Canada Goose Holdings is spreading its wings.
The high-flying premium outerwear company has made its first foray into footwear, acquiring Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. The transaction was put at C$$32.5 ($24.8 million).
As a wholly owned subsidiary of Canada Goose, Baffin will continue to operate on a stand-alone basis out of its headquarters in Stoney Creek, Ontario. Baffin specializes technically advanced, high quality products for adventure and work. The company predominantly sells its products through distributors and retailers in Canada and the United States.
“I have known and admired Baffin president Paul Hubner for years, and watched as he has developed innovative new designs and built a thriving business that is known for making the best and warmest boots,” said Dani Reiss, president & CEO, Canada Goose, Toronto. “The Arctic heritage and best-in-class functionality of Baffin boots are synonymous with what Canada Goose stands for. As we continue to execute our current growth initiatives and build an enduring brand for generations to come, Baffin provides us with valuable infrastructure and know-how to start exploring the exciting global footwear category.”
Founded in 1957, Canada Goose went direct to consumers in 2014 with an e-commerce site. It opened its first freestanding stores in 2016, and currently operates a total of locations in seven cities. It sells online in 12 countries, and in goods are also sold through select department stores and specialty stores.
The high-flying premium outerwear company has made its first foray into footwear, acquiring Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. The transaction was put at C$$32.5 ($24.8 million).
As a wholly owned subsidiary of Canada Goose, Baffin will continue to operate on a stand-alone basis out of its headquarters in Stoney Creek, Ontario. Baffin specializes technically advanced, high quality products for adventure and work. The company predominantly sells its products through distributors and retailers in Canada and the United States.
“I have known and admired Baffin president Paul Hubner for years, and watched as he has developed innovative new designs and built a thriving business that is known for making the best and warmest boots,” said Dani Reiss, president & CEO, Canada Goose, Toronto. “The Arctic heritage and best-in-class functionality of Baffin boots are synonymous with what Canada Goose stands for. As we continue to execute our current growth initiatives and build an enduring brand for generations to come, Baffin provides us with valuable infrastructure and know-how to start exploring the exciting global footwear category.”
Founded in 1957, Canada Goose went direct to consumers in 2014 with an e-commerce site. It opened its first freestanding stores in 2016, and currently operates a total of locations in seven cities. It sells online in 12 countries, and in goods are also sold through select department stores and specialty stores.