Parkas maker Canada Goose targets a $2 billion listing

Canada Goose recently opened a flagship store in New York City

Canada Goose, maker of Arctic coats costing as much as £900, has applied for a stock market listing in NY and Toronto. Shares will trade on both the NYSE and Toronto Stock Exchange under the ticker symbol "GOOS".

Canada Goose, backed by Bain Capital, is known for its trademark $900 parkas with coyote fur-lined hoods.

The filing specifies that Bain will continue to have a controlling interest even after raising the corpus through IPO.

It listed $100 million as the amount it would raise through the offering but this is a commonly-used placeholder and is likely to change.

In 2016, Canada Goose said it had revenue of $291 million, and $103 million of that revenue came from the U.S. The company reported a gross profit of $146 million and net income of $27 million for the same year. Adjusted net income for the period was $30.1 million. And if you need a Canada Goose coat, you probably have one, and no one needs two. "We believe offering inspiring new products that are consistent with our heritage, functionality and quality represents an opportunity to develop a closer relationship with our customers and expand our addressable market". The brand was sold in 36 different countries through about 2,500 wholesalers at the end of December, the prospectus shows. No pricing terms were disclosed.

Canadian Imperial Bank of Commerce, Credit Suisse Group AG, Goldman Sachs Group Inc. and RBC Capital Markets will be leading the share sale, the filing shows.



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