Growing beyond North America
Canada Goose’s success has paved the way for fashion-forward outerwear labels, but trade tensions are a headwind.
TORONTO — Fashion is accustomed to fleeting trends, but gorpcore — a term coined by The Cut in 2017 to reflect the sudden ubiquity of fleece vests, puffer jackets and other staples of outdoor clothing in urban areas — is still going strong. Euromonitor International forecasts that the performance apparel sector will register a compounded annual growth rate of 3.5 per cent between 2018 through 2022, and luxury brands have taken note.
Canadian brands like Canada Goose and Arc’teryx have benefitted from the demand for high-performance coats that can be worn both during a New York winter and an Arctic blizzard. Having opened a Beijing flagship last December, the former now has a market capitalisation of over $6 billion and will expand to Minneapolis, Milan and Paris this year.