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News Worms


Canada Goose IPO Coming Soon

Canada Goose IPO Coming Soon

The Canadian luxury apparel company Canada Goose has filed for an initial public offering, or IPO. In 2016, the manufacturer said they brought in almost $291 million in revenue, with more than $100 million of that sum coming from the U.S. Canada Goose initially launched in 2015, and opened its first retail store in NY previous year.

Canada Goose recently opened a flagship store in New York City.

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.

The company set a placeholder offering of $100 million.

Despite its failure at attaining gender diversity on its board of directors, Canada Goose does have a relatively balanced senior management team: four of the 13 senior managers are women, which doesn't seem that great, except in comparison to data collected by Rosenzweig & Company, an worldwide executive recruitment firm, that found just 42 of the 526 named executives at those Canada's top 100 companies were women. It plans to list it on Toronto Stock Exchange as well as New York Stock Exchange with GOOS as symbol. Over the past three years, revenue grew at a compound annual rate of 38.3 percent, the filing shows, while net income nearly tripled over the same period.

The company also wants to expand further into other countries, especially China, where its coats are quite popular. It has owned a large part of Canada Goose since 2013, when the company was valued at $250 million.

CIBC, Credit Suisse, Goldman Sachs, RBC Capital Markets, BofA Merrill Lynch, Morgan Stanley, Barclays, BMO Capital Markets, TD Securities, Wells Fargo Securities, Baird, Canaccord Genuity and Nomura Securities are the joint bookrunners on the deal.

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