“Australia is a world-renowned destination for luxury, and we’ve seen how strongly our brand is resonating in the market,” he said.
The luxury snow goods brand has a group of celebrity fans. Credit: Victor J. Blue / Bloomberg
Reiss has become a billionaire in his own right after taking over the snow-gear business that was started by his grandfather, Sam Tick, and turning it into an exclusive label worn by celebrities the world over.
Film crews had been wearing the company’s products for decades. Reiss moved to set up sponsorships with film festivals such as Sundance, with hundreds of coats distributed to filmmakers and industry professionals.
An early adopter of influencer marketing, Canada Goose coats gradually became a common sight in paparazzi shots of celebrities on set.
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These days, Canada Goose sits in the same high-end category as global fashion brands such as Moncler, and everyone from Daniel Radcliffe to Daniel Craig has been spotted wearing the products.
The business completed a sharemarket listing in 2017 with shares at $CA17 each ($25). The stock went as high as $CA92 in 2018, and are at around $CA23 recently. The brand generated just over $CA1 billion ($1.1 billion) in revenue last year.
CEO of Canada Goose Dani Reiss with Rita Ora at a launch of Canada Goose Footwear in London in 2021. Credit: Dave Benett / Getty
The business is known for investing in innovative retail experiences, including “cold rooms” in its stores, where shoppers can try on products in a low-temperature environment.
Morris says he hopes the first Canada Goose store in Melbourne’s Chadstone will include a cold room for local shoppers to test the warmth of the products.
“[The coats] have all got thermal ratings. You can work out which one is most appropriate for the climate you’re going into.”
Luxury fashion spending is going from strength to strength in Australia despite cost of living pressures hitting many consumers.
Profits at iconic fashion business Chanel have surged locally over the past year and generated revenue of $571 million in 2022.
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