The Canadian clothing supplier Canada Goose Holdings Inc. wants to boost its business in Japan with a new joint venture. On Tuesday, the Toronto-based down jacket specialist announced that it had partnered with long-time local distributor Sazaby League Ltd. agreed to set up a joint venture. The company announced that both partners each have a fifty percent stake in the new Canada Goose Japan company. Canada Goose explained that the aim is to advance the brand’s retail expansion in Japan by opening new shops, among other things.
“Japan is one of the largest and most influential luxury markets in the world and has long been an important consumer market for Canada Goose,” said President and CEO Dani Reiss in a statement. “This new agreement sets the stage for accelerating our growth in Japan in both retail and wholesale.”
So far, Canada Goose’s sales activities in Japan have included its own stationary store, the local online shop and the wholesale business. The company still sees great potential there and is now aiming for strong growth: the new business model would “considerably increase sales and gross profit per article”, according to a statement. Specifically, Canada Goose Japan is expected to generate sales of 60 to 65 million Canadian dollars (43 to 47 million euros) in the 2022/23 financial year. This means that sales in Japan would “roughly double” compared to the current year, the company said.