As losses at £950 coat-maker Canada Goose widen, bosses splurge on global push in Asia
- The Toronto-based company made a loss of of £11m compared to £7.1m last year
- It has frequently been the centre of controversy with animal rights activists
Losses widened at luxury parka maker Canada Goose due to its global expansion
Losses widened at luxury parka maker Canada Goose due to its global expansion plan.
Bosses splurged cash on hiring staff for stores in Beijing and Hong Kong and an office in Shanghai.
The Toronto-based company, whose coats sell for up to £950, made a loss of £11million compared to £7.1million last year.
It has frequently been at the centre of controversy with animal rights activists as the linings from some of its coats were made from coyote fur.
Consumer sales rose to £13million compared to £4.7million the year before, boosted by a surge in online orders and a shift away from wholesalers paid off.
Knitwear did particularly well. Chief executive Dani Reiss said: ‘Our products and brand continue to resonate with people.’