Finance

Canada Goose files for IPO to capture U.S. market

Canada Goose files for IPO to capture U.S. market”

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.

For the fiscal year ended March 31, 2016, revenue was $290.8 million.

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

Its parkas, which retail for up to $1,500, have been worn by celebrities and featured in Hollywood movies and on the cover of Sports Illustrated's swimsuit edition.

Canada Goose is going after the public markets.

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With the $100 million that it will raise through IPO, this company that's operational since 1957 plans to pay down its debt, and use it as a working capital to boost its growth plans. The company has disclosed in its filing that in the past three years the revenue is compounding at 38.3% annually and the net income in this period has tripled.

The company also wants to expand further into other countries, especially China, where its coats are quite popular. And if you need a Canada Goose coat, you probably have one, and no one needs two.

The company, who is part-owned by private equity firm Bain Capital, has said it wants to pay off some of its debt and expand further into the U.S. and overseas.

Canadian Imperial Bank of Commerce, Credit Suisse Group AG, Goldman Sachs Group Inc. and RBC Capital Markets will be leading the share sale, the filing shows.



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