Canada Goose launches joint venture in Japan

Image: Canada Goose Canada Goose has entered into a joint venture with longtime retail partner Sazaby League to expand its business in Japan and accelerate its DTC growth in the market, which includes the opening of new stores. The Canada Goose Japan joint venture, of which each partner will own 50 percent, will replace an exclusive national distributor arrangement between Sazaby League and Canada Goose. Current distribution includes a permanent Canada Goose retail store in Tokyo, a national e-commerce site, and wholesale points of distribution across the country. Untapped potential Canada Goose said the new operating model is expected to “significantly” increase revenue and gross profit per unit from the existing business. In the fiscal year 2023, the venture is expected to generate between 60 and 65 million Canadian dollars in total revenue - or roughly double the contribution from the market in fiscal 2022. “Japan is one of the world’s largest and most influential luxury markets and has long been an important consumer market for Canada Goose,” said Canada Goose CEO and president Dani Reiss. He said the agreement “sets the stage for the acceleration of our growth in Japan, across both DTC and wholesale”.
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