How I Transformed Canada Goose Into A Billion-Dollar Brand
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- Опубліковано 29 тра 2024
- When Dani Reiss took the reins as CEO of Canada Goose at age 27, he was running a company that brought in $2.2 million a year in revenue. Today, the luxury brand is worth $1.1 billion. Canada Goose parkas, with their iconic shoulder patches, cost over $1,000 and the company sells over one million jackets a year.
Correction: In fiscal year of 2023, Canada Goose has brought in $878 million in revenue. An earlier version misstated this information.
Produced by: Beatriz Bajuelos
Supervising Producer: Jessica Leibowitz
Camera: David Estrada
Editor: Marisa Forziati
Additional Camera: Valentina Duarte, Liam Mays
Animator: Gene Kim, Elham Ataeiazar
Reporter: Megan Sauer
Narrator: Nicolas Vega
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How I Transformed Canada Goose Into A Billion-Dollar Brand
Credit to him, he turned $2M revenue into $1.2B, that’s insane.
Yep. A ton of people will cry that this guy was born with a silver spoon in his mouth and was handed everything. But if you give 1000 people a $2M revenue business, most will go bankrupt and maybe 1 of them will turn it into a billion dollar business. Maybe.
No credit to him for running a massive animal abuse conglomerate. If you could make millions of dollars selling slaves, would you do it? Same thought process applies. Here
You know NOTHING! $2M revenue and 1.2B Valuation are way apart. Go back to your Pokemon
Just walk into Nordstrom, and walk out with the Canada Goose Jackets.
Market Cap of $1.2B at one time, revenue around $900 million. Current market cap is about $1B USD
Let's not lose sight of the fact that the company is so successful because they make a fantastic product. I work in the coldest part of the planet and am very happy with their parka - 100%.
@CrackShot-3 You didn't test yours in Antarctica so gtfo.
Their factories are full of immigrants, paid almost nothing. Terrible business model, useless support. If you have a problem they will string you al9mg for months.
Ya, physically impossible. Try wearing that same jacket in 0 degrees Fahrenheit and we'll see how warm u are.@@CrackShot-3
Enjoy your animal cruelty.
Would you say that their coats are better than The North Face?
And if so, does it justify the difference in price?
Awesome story. I lived in Canada since he became CEO in 1997, and I witnessed this brand grow from unknown to a worldwide recognized brand. Soooo many Canada goose jackets in Toronto.
and the quality took a nosedive.
Something smells about this company. They are not a good outfit, and quite nefarious.
It's so played out. Are they even made in Canada any more?
Lies again? Germany Loose Tesla Car
He became CEO in 2001, he graduated from UofT in 1997… not that it matters .. just saying.
Taking a 2.2m rev to 800m is insanely brilliant. I especially love how his parent made him work for his travel fund at the factory while not pressing him to take over. End up he is not spoiled and learned the business from an outsider's perspective
Danny's parents are the true winners here. What great parenting
How so? They specifically told him not to get into this business.
@@RealSerie26 they gave him the choice and didn't force him to do anything so that when he decided to, it was because he wanted to, that's what great parenting is.
@@Ravvernot sure that makes them true winners though
@@RealSerie26Reverse psychology bro. Kids don’t listen to parents.
All you need is one good CG winter coat. It's long lasting. You won't need another coat for 10 years.
This CEO is indeed a business genius, built the brand awareness and value to the fullest during the social media blooming era, able to turn his family business into IPO while maintaining control after liquidize majority share of equity to outside investors. He and his family are financially secured for rest of their lives, no matter whether or not the company can last for the next century.
Who gives af. Dude runs a massive animal abuse conglomerate. If you could make millions of dollars selling slaves, would you do it?
he didnt maintain control........
@@privatesale211 You might be right. 6 years after IPO, he stays on as the CEO, He can simply walk away after couple of years as consultant. Obviously majority owner, and broad of directors has the deciding vote.
Keeping the factories in Canada is such an admirable business decision!
ive had one of these since 2007. the same one, not a rip on them! they are the real deal, i wear them with just a tshirt underneath in canadian weather. great product.
In Ireland, only 15 - 25 year old cocaine dealers, or wannabes, wear Canada Goose. Interesting how brands can take on different meanings in different regions. That being said, there's no doubting it's a fine jacket.
Pretty much the same in England.
@@mrgt3201same for Canada, ironically 😂
In London they wear Montcler
@@dereklin2421 where do you live ?? /. ?
we wear canadagoose cause it's a warm jacket find me a jacket that's just as warm
@@dereklin2421 ya no that's not true
What a great guy. The factory floor looks spotless.
So that’s why the jackets went from $495 to $1695.
Yes cause they are made in Canada, Haaaahaaaaaaa
@@fibonacholmao
When high school dropouts don't know the concept of inflation..
@@supremeleader9872 and then the guy that thinks he's intelligent because he went to college but doesn't know difference between inflation and capitalism. hahaha
I own 3 different Canada goose jackets as I used to live in Northern Canada I bought all of them before the ludicrous price surge in their jackets. I’ll never buy another one that’s for sure. My warmest parka went from $950 to $1450 in just 4 years
Lol, I thought they were overpriced $200-$400 jackets but you're telling me they sell for $1500-$2000!? Absolute insanity, they're the most basic looking jackets ever.
It’s the quality, you won’t feel much cold wearing that.
@@PreciousOracion Lmao, no, any decent jacket does that. It's all about the sticker.
I think something that makes their brand so special is that it's actually really good quality. A lot of luxury brands look sight of quality once they have that prestige. I own a Canada Goose coat cause it's freezing here and I'm so happy with the quality. The designers behind the jacket definitely understand what it's like living in these conditions
The irony is that few Canadians living in cold climates actually wear this brand. It is a luxury brand popular with tourists and in export markets. In Montreal and Quebec City there are local brands that compete with it (made in the Chabanel district). Also, with climate change, we now have only a few days where the temperature is lower than -20C. That's another reason why CG has so many other products that are for warmer weather.
one reason is mainly that the only jacket that is truly offering something unique is plainly just too warm for us to wear.
the key to staying warm in cold weather is 50% being warm enough, 50% being dry, which is why the best technique is to layer up.
their parka, which they are famous, for is rated for such low temperatures that it's too warm for you to put any kind of drying layer up, which makes this:
a) 1k$ cold sweaty parka
b) 1k$ parka you need to wear unzipped
the rest of their more appropriate jackets are simply overpriced and basically on par with anything else made by more affordable brands who generally have better designs
@@newbambi Agreed. Felted wool, which has been around for 100 years or so, is actually very comfortable for going in an out of the métro in Montreal. It breathes so well and stays warm when wet.
@bengt_axle i just buy wool coats as well. Most are under $50. Im dropping 100s on a designer clothing.
Same here in Fairbanks Alaska, tourists and the homeless wear the parkas most of the time. Everyone else wears a hoodie and a jacket from Costco even at 40 below
Wow homeless can afford Canada Goose? In Canada many people where Canada Goose, at least in Toronto where they originated from.
Great family story, the whole legacy came together to make this brand possible. That said what Dani did with it is exceptional, he makes it sound easy. Glad to have such a quality brand representing Canada.
No explanation of how he built the brand, literally just an ad.
live in Scandinavia and I usually just wear a t-shirt with no extra layers while wearing my Canada goose jacket in the winter. Great looking warm jackets :)
A lot Haters, and Jealousy with these comments. He did a great Job scaling up his parents Business. Y’all would do the same if you were in his place. Don’t buy it ? Who give a sh#t
That's the same thing I observed. So much negative energy in the comment section.
I think part of it is the fact this is an advertisement paid for by Canada goose
I like how even his immigrant family said not to get into the family business
Nowadays, everything is an ad. What a great world we're living in
Fax
i was gifted a canada goose jacket and it is one of the best jacket i have worn,the material and the warm it kept is unreal!
Sounds like great parents.
Teach them to work hard since young.
Not forcing family business to children.
Making them work for some money if they want to travel out.
Listen to ideas and let son takes over when he is just 27.
Amazing
The brand got huge in Sweden in 2001 - all the "Brats" (spoiled young people) and wannabebrats wore them, did not realise that is was only big in sweden at that time. In posh areas they had "goose parades" in high school. Those were the days...
I remember seeing canada goose for the first time when i visited Venice in 2006 winter. So many tourists had this jacket, you couldnt look around without seeing their logo. By then they already created this cult demand and buzz and it was for sure the winter brand to have for the wealthy. Wild to think he transformed the company from almost nothing to THE luxury winter brand in just 5 years.
"dont make it cheaper make it better" such an underrated bar
The year it hit -20F in New York I took out my CG and all I had under it was a T-shirt . That coat kept me so warm .
all they did is jack up the price, it's not any warmer than columbia, North Face, or Patagonia
Wrong, they pay for after purchase servicing
I don't think any of the brands you mentioned are made in Canada with fair working conditions.
Whats crazy is that its cheaper to buy enough shares to attend the share holder meeting than to buy some of their jackets
How many shares you need to attend the meeting?
@@basedpatriotLT i think it was 240 or 260 shares
you need 250+ shares lol.. which costs about $2,500... all jackets fall below that price
@@ShengYu1995 For a couple of years at least...
My wife and son have Canada Goose coats and they are very high quality! Well done for making products in Canada. Merry Xmas from Ireland and walked by your Dublin store last week!
All the joy Dani gets with leading Canada Goose must be offset by his support for the leafs!! Go Leafs Go!!
Soon he will go from seasons tickets to owner.....Stanley Cup?
I love these bootstrapping stories from CNBC, he definitely pulled himself out of obscurity and tirelessly built himself into a titan lol🙄
Feel like they liked your comment not realizing it was sarcasm
Did CNBC say they will only feature bootstrap stories on this channel? Why don’t you expect them to feature all kinds of business success growth stories?
It’s beautiful to see a family business going from humble beginnings, to good, to excellent and successful! All the best to you! Inspiring to watch. Thanks 🙏
Amazing History! I had no idea. So proud to be Canadian 🇨🇦
what tribe do you belong to?
@@isailevilopez5134 Canada Métis
High quality materials, and manufacturing in Canada has a cost. Things made in Canada with ethnical labour conditions are going to have a higher cost of goods sold than something made in China. That raises the prices, plus they are seeking to make a profit. I don’t have a lot of items in my closet, but most of my items are thrifted or made in Canada/USA/Europe, which is not cheap. What gets me are companies that charge a premium and are still made in China or in countries with poor labour conditions.
The decision to transition away from fur shows a commitment to sustainability and ethics, aligning with the evolving consumer mindset. It's a bold move that sets Canada Goose apart as a brand with a conscience.
Interesting that you cannot buy majority of the coats in Canada,but widely available in US, and they don’t do delivery to Canada. So much being Canadian brand that you can’t buy model that you really like in Canada.
Not spending $1500 on a jacket just to get robbed.
You're not the target consumer then. But don't need to be degrading it by calling it robbery. It is made in Canada and costs are way more expensive than a third world country.
@@Jayl__i think he meant actual robbery. Those people would snatch these from you because they know about the value in those jacksts
Make a docu about how Canada Goose treats animals
Exactly
What are talking about?
Dead coyotes
They treat them amazing like a petting zoo
Proof that with good enough marketing you can sell fridges to Eskimos
Negative press regarding declining stock price hits on November 1st, CNBC Make It Video about how the CEO transformed Canada Goose into a Billion-Dollar company drops 10 days later on November 10. I see what you did there! I'm not mad at it. Hats off to the publicist.
So cool! Getting my first Canada Goose his Winter as I receive my Canadian Citizenship as well! Couldn’t be more proud! ❤
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that don't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in various stocks, Gold, silver, and digital currencies
Can you endorse any?
I have never seen any of STEPHANIE KOPP MEEKS' clients complain of losses, her level of risk management is second to none....I think she's just best suited for what she does
Thanks for the info. Found her web-site and it's really impressive
Not the company you think it is. They do not stand behind their product, and screw the customer on any issue. Support is awful.
He definitely transformed the brand and made it from functional to fashionable.
"Keep the planet cold and the people on it warm" is a motto with LAYERS of meaning.
I bought a Kelowna fleece jacket and its warm and great quality.. I got it on sale for $526.00. Never buy retail.
good for him, he makes a good product that keeps you warm. thats all it needs to be.
Well done Danny!
I have alot of respect for Western brands that choose to keep their production in the West.
And I say this as a non-Western person.
Ultimately, what has always been a Westerner's biggest strength, is NOT their capital or spending power, but that they are hands on and dont flinch on doing the dirty work on their own.
Too many Asian factories are trying to make a quick buck with big orders and bigger promises, but the owners themselves rarely do any of the craft. This will always be their undoing. There is no honor in their endeavor, no love for the craft, just purely business. No wonder the working conditions are a second thought.
This is why the only Asian country to love their craft as owners is Japan, which is why Japanese goods are very bespoke and command alot of markup and respect.
As someone from the east you are absolutely right. Here working with your hands is considered something lower classes do. Japan is definately the exception with Japanese hand made craft being sold at even hgiher prices than western made stuff.
You realize Italian manufacturing is Chinese manufacturing right? There is a reason why it was outsourced there. Look it up Made in Italy is a scam.
@@StuninRub we'll that's sad. When I think of Italian apparels, I'm thinking brick and mortar stores, bespoke tailoring.
Made In USA suffers from the same problem too btw.
Mass production = fast fashion, no western fast fashion brand keeps 100% of their production in the west.
As a self employed person, in an industry that is famous for short lifespan, I envy him. I am in the same boat as his grandpa, doing all you can to build it from scratch all the mistakes that you learn from. Its been 36 years for me and had I inherited the business I can only imagine.
Can you elaborate a bit more? It sounds like you’re in the clothing manufacturing business but you haven’t been able to innovate a line or found a way for it to take off?
We can help you grow. I grow clothing brands all the time with my marketing agency. Let me know if you would be interested and I can send some things over
Glad to see the manufacturing stayed in Canada.
I also owned a bomber jacket, which keeps me warm in sub zero cities like Calgary, Sapporo, Lithuania, etc..... An awesome jacket - value for money
I got a Parka 10 years ago, probably good for another few years too!! I was thinking about getting another one soon, but after hearing the new ones don't have fur!! and cost way more now, I think I will look for something different! At 3 times the original price point you definitely want to be getting real fur!
Killing animals for fur wich doesn’t even have a use or function is just unethical and dumb.
Wearing fur, and being proud of doing so is just disgusting.
@@lasseluk7207 fur coats are actually very warm… humans have been using animals for food and fur for centuries. It’s natural. Get over it.
So many haters and jealous people in the comment section. Did anyone force you to buy the product? What is wrong if someone inherits a business and 10x times it? Are you forced to watch this content?
People can have opinions of the brands being shown on this channel.. yes,
Canada goose has become luxury brand Vs an outerwear company. This has propelled their profitability.
@@boomafoo9: You are not forced to buy Canada Goose, are you? You are not forced to watch this video, right? The hate energyyy is too much from folks who have barely nuffin to show.
12.06 per share price today. I own GOOS stock and two parkas. bought the parkas for their warmth, durability, high quality, and style. so happy with parkas, not so much with the stock.
My puffer coat maker of choice is a small logo-less, made-in-Japan company and while I personally will not buy Canada Goose gear I hope they stay the course and continue to make their stuff in Canada and not become another Arcteryx (who moved their manufacturing to Asia).
What brand is the Japan one ?
Rocky Mountain Featherbed
@@Hotspur62 yes too much money
Perhaps they're using rocky as an adjective and not a noun@@fibonacho
Great transformation and success business story!
Sales are down a lot and he only has 10% of the company now as he sold out mainly to USA investors who only want profits not quality so prices are up and makes them too expensive for many people.
$1400 is nothing to a rich person cause they wear average $10K goods and they move onto the next fashion in season. Its luxury for the common ppl
way back in 2007/2008, Canada Goose only had 3 coats in their lineup, mittens and aviator hat
my dollar store jacket says no
6:22 incorrectly shows logo and name for Bain & Co, a consulting company, instead of Bain Capital investment entity.
the best jackets, I love my CG they are so warm and have great quality
I remember I bought a Canada goose jacket in 2013 for $650. I promised myself that I would wear it for 10 years. Even back then, I was shaking to be spending that much money on a jacket. I justified investing $65 dollars yearly to keep myself warm lol. After 11 years, I am still wearing it! It is a very well made jacket but I just cannot justify to pay $1400 for the same jacket now😭 so this will be my first and last Canada goose jacket.
Very inspiring!!
The Clickbait was a Girl, The Real Deal is the BALD MAN.
Spending 1500 on a nice high quality big jacket is a lot more justified than people who buy a pair of dunks for 1500
He just inherited it lol
I feel you can buy the same quality jacket or better from Patagonia or Fjallraven
Arcteryx was a superior option, they might have gone downhill though
@@WitnessedOne they've gone way downhill in quality since moving their manufacturing to asia some years ago
Funny how shares are at an all time low and now all of a sudden this video pops up and 2 days later there is a 15% surge in the share price. Not planned at all(!)
This is remarkable
Canda goose just goes to show
How much life can go to push you to do what you know you should do
This dude sounds exactly like the dude who founded Fyre Festival
Came here for the thumbnail. Who is she and where is she in the video?
In the UK it is mainly gypsies that wear Canada Goose.
Status brand. That's probably why I've never heard of it.
Brilliant!
Don’t make it cheaper, make it better.
Your channel is the best I love it thanks
Puff piece about puffy jackets 😂
Haha 😂
Canada Goose jackets are great but that long Marlow Parka looks like a comforter.
The coat is honestly so warm. It’s a great product.
it better be for 2k for a jacket
The story of Canada Goose starts with the store's founder, Sam the Goose.
I want that Canada goose polar bear trench coat!!!
it's because my canada goose jacket was 600-700$ B.I. (or before inflation) and it lasted 13 years. Which would mean on average for winter jackets per year, only 50-60$ were spent on functional winter jackets minus style.
Eddie Bauer down jacket, same protection, look and quality for like 1/10 of the price.
Mine is currently 15 and going dtrong
Kudos to him and his great brand!
Are you joking? This is a massive animal abuse conglomerate. How do you people not understand this?
@@tioswift3676the fue is better then the synthetic trash you guys are trying to push
I found Canada Goose jacket heavier compared to North Face jacket. I think it cost around $1,000 then. I'm happy with my North Face winter jacket. Lighter and much cheaper.
very warm jackets. but the only people I see wearing it here are Chinese exchange students and tourists. I think I see Arcteryx more often, which is a Chinese brand, formerly Canadian
This guy is so cool and down to earth. Makes me want to buy their very expensive parka eventhough I only make €2500 a month 😄. No seriously I never bought one because I feel like I do not make enough money to buy these. If I would make at least €4000 a month than I would do it.
That patch is great.
This guy is very cool and inspiring!
Wasn’t Canada goose cancelled for animal cruelty against wolves and ducks a few years ago
You clearly did not watch the video..
Creator to his Father for granting him everything he now is
Why do I remember me and friends wearing Canada goose in the 90s. Having one was very cache. But seems like Snow Goose became Canada Goose in the 2000s
I hadn’t heard of Canada Goose until this video 😅
Brilliant
He wears two watches...looks like a smart watch on right wrist and a very expensive AP Royal Oak on left wrist 🙂!!
I couldn't fathom being a walking advertisement for such a visible brand, to say nothing of plonking down over $1,000 for a jacket. I can find alternatives for 1/10th the price and function just as well. That said, I'm looking at their stock and it's currently just over $10/share. I hope for their growth as I'd like to invest but I think they've hit their peak already. The climate shift isn't going to help in that regard, either. There's only so much celebrities can help a brand.
I only buy jackets with fur it’s the best!!!
Congratulations!
If those only knew that in Winnipeg Manitoba, they take advantage new immigrants to make these jackets at min wage. They also farm their firs from Alberta from a certain fox that doesn't shed easily.
Awesome products…worth the $$
I'm sure it's better business to be in luxury segment instead of functional outwear, and congrats on the successful transition. But man I wish they chose Patagonia way instead of LVMH as inspiration. Now it's just a brand for rich Vancouverites to flex on the rest of us peasants. Good old times I guess.