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When you think of Canada Goose, you probably picture its trademark fur-trimmed parka, which is designed to keep people warm in sub-zero temperatures.\u00a0<\/p>\n
But today, the $1.5 billion winterwear company\u2019s logo can actually be found on sneakers, T-shirts, socks and more. \u201cWe don\u2019t just make outerwear anymore,\u201d CEO Dani Reiss tells Fortune<\/em>.<\/p>\n Soon, you\u2019ll even be able to buy Canada Goose for your home.\u00a0<\/p>\n But the leap from the safety of clothing retail\u2014the space the brand has operated in since 1957\u2014to the highly competitive market of homewares is a gamble, experts tell Fortune<\/em>.<\/p>\n Since taking the helm of his grandfather\u2019s company in 2001, Reiss has scaled Canada Goose from relative obscurity into a globally recognized brand with 68 stores around the world, including in sweltering spots like Miami and Australia.<\/p>\n \u201cWe began with lightweight down in 2011, leveraging our reputation for extreme warmth to approach this new category with purpose,\u201d Reiss explains.\u00a0<\/p>\n Since then, it has ventured deeper into apparel, with its first knitwear collection hitting stores in 2017, followed by footwear in 2021.\u00a0<\/p>\n Now, its non-heavyweight down products make up nearly half of Canada Goose\u2019s revenue, according to Reiss. So it\u2019s easy to see why the company is looking to continue emulating the success it\u2019s experienced outside of parkas with eyewear, luggage, and even homeware looking ahead.<\/p>\n However, it\u2019s not a guaranteed easy win for the brand, say marketing experts.<\/p>\n The marketing agency Live & Breathe has worked for decades with retailers like Morrisons, Real Techniques and World Duty Free on launching campaigns and brand extensions.\u00a0<\/p>\n As its chief strategy officer Ben Alalouff points out, previous Canada Goose product launches\u2014from trail boots to light gilets\u2014have all tapped into the brand\u2019s core messaging to get outdoors wearing Canada Goose.<\/p>\n \u201cYou don\u2019t necessarily think about Canada Goose when you\u2019re at home,\u201d he says. \u201cYou look at the website, you look at the socials and it\u2019s all about premium outerwear. There\u2019s nothing about having a cozy or premium home\u2026 It\u2019s building from scratch, so that could be a problem.\u201d\u00a0<\/p>\n The other elephant in the room is that many people splurge on Canada Goose because it\u2019s a premium product. Dipping its toes into new categories to boost its bottom line could cheapen the brand.<\/p>\n Julio Hernandez, who leads KPMG\u2019s global customer advisory practice, tells Fortune <\/em>that \u201cthere\u2019s graveyards out there of companies that have tried to do that and haven\u2019t done it successfully.\u201d<\/p>\n \u201cWe used to have a very famous brand here in the United States, a beer company called Schlitz,\u201d he highlights.\u00a0<\/p>\n During the 1970s, in an attempt to cut production costs and keep up with growing demand, Schlitz\u2019s owners reformulated its recipe. \u201cAlmost overnight they lost their their following,\u201d Hernandez says.<\/p>\n Likewise, consumers who splash out on Canada Goose expect a certain quality.<\/p>\n \u201cThe fact is you go on their website, they\u2019ll tell you what\u2019s the temperature rating etc. There\u2019s some science behind that\u2014it\u2019s like \u2018oh man, these guys really know what they\u2019re doing,\u2019\u201d Hernandez adds.\u00a0<\/p>\n \u201cIs that \u2018they really know what they\u2019re doing\u2019 [going to] translate into a new mug? I don\u2019t know.\u201d<\/p>\nCanada Goose\u2019s rapid expansion\u00a0<\/h2>\n
Canada Goose wants to be like Apple<\/h2>\n