2024 — Luxury outerwear brand Canada Goose reported revenues surpassing expectations in Q1 2024. This success was primarily driven by stable demand in the Chinese market and the company's cost-cutting efforts. Specifically, the company streamlined its operations, reducing its workforce by 10% in 2023 and an additional 17% in 2024, resulting in cost savings of approximately CAD 20 million.
In China, new products such as lightweight outerwear and sneakers received strong demand, leading to an increase in sales compared to the same period last year. CEO Dani Reiss emphasized that efficient resource allocation played a key role in improving the company's earnings.
Looking ahead, the company will continue to focus on optimizing its e-commerce platform and leveraging social media for collaborations with celebrities, which is expected to attract younger consumers and new customer segments.
