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Performance luxury brand acquires longstanding knitwear supplier to support growing apparel category
Today, Canada Goose announces the acquisition of the operating assets of Paola Confectii Manufacturing. Building upon our existing network of seven facilities across Canada, this acquisition marks the company's first European facility, and supports our Strategic Growth Plan, specifically expanding existing categories and increasing year-round relevance.
Based in Romania, Paola Confectii has been a trusted partner in manufacturing luxury knitwear for Canada Goose since its launch in 2017, producing a range of best-selling styles including the HyBridge Knit Jacket. Knitwear is one of the leading segments of our growing Apparel category, which exceeded $70 million in annual sales in fiscal 2023. This closer partnership is expected to enhance product margins and supply control, while deepening in-house product expertise.
"Our vertically integrated supply chain has always been one of our core competencies. This strategic investment advances our renowned manufacturing infrastructure and validates the performance luxury brand we are today," said Dani Reiss, Chairman and CEO, Canada Goose. "It also demonstrates the confidence we have in our emerging categories and our plans to develop these categories into even more meaningful contributors to our business."
Our core down-filled products will continue to be proudly made in Canada, while apparel production will continue to be concentrated within best-in-class European facilities. As we've evolved and introduced new categories, we've strategically welcomed new world-class partners from different parts of the globe who share our values and commitment to craftsmanship.
Paola Confectii will continue to be led by Giannino Lessi, General Manager, and Paola Zaffalon, Technical Director, as a standalone entity, maintaining regular operations.
Posted In: GOOS
