Canada Goose Sells Baffin Boots Brand

Dow Jones
08/05
 
 

Canada Goose is selling its Baffin footwear brand as it looks to simplify operations and concentrate on its luxury lines.

The Canadian apparel company on Wednesday said it reached an agreement to sell Baffin to closely-held L.P. Royer, a Canadian maker of work and military footwear.

Financial terms of the deal weren't disclosed by the companies.

Canada Goose bought Baffin in 2018 for 32.5 million Canadian dollars, the equivalent today of about $23 million. Adding the producer of winter, outdoor and industrial boots was Canada Goose's first step into footwear.

"This transaction is about focus. We've made meaningful progress evolving Canada Goose into a year-round lifestyle brand, and this gives us the opportunity to continue that momentum," Chairman and Chief Executive Dani Reiss said.

Since launching its first footwear collection in 2021, Canada Goose has invested in and expanded the category. This has seen it grow from extreme-weather boots into a broader assortment that includes lightweight hikers, everyday performance styles and sneakers.

Royer said it intends to invest in the Baffin brand, which will remain a separate brand under its umbrella. The entire Baffin team will join the company, which was founded in Quebec in 1934.

Baffin was created in 1979 by the Hubner family in Stoney Creek, Ontario, and has built a reputation for technical boots in Canada.

Canada Goose said it expects the sale to close in August.

 
 

应版权方要求,你需要登录查看该内容

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10