High-end down jacket maker Canada Goose files for IPO
Editors Note Adds further detail
By The Associated Press
Canada Goose, the coat maker known for its high-end down jackets, has filed for an initial public offering.
The Canadian company's parkas and coats can cost over $1,000 and are sold online and at luxury stores as well as through retailers focused on outdoors gear. In recent years, it has expanded its product line and pushed to grow U.S. sales, focusing on the Northeast. It opened its first two physical stores, one in Toronto and the other in New York City, in 2016.
It plans to trade under the ticker symbol ``GOOS'' on the New York Stock Exchange and Toronto Stock Exchange.
Canada Goose was founded in 1957 and sold a 70 percent stake to private equity firm Bain Capital in 2013.
It plans to use IPO proceeds to repay debt and for general purposes. It said the offering could raise $100 million. That may change according to investor demand.
Canada Goose Holdings Inc. posted net income of 26.5 million Canadian dollars ($20.3 million) and sales of 290.8 million Canadian dollars in the fiscal year that ended in March 2016.
By The Associated Press, Copyright 2017