The Canada Goose store in Soho.

Snap Inc. isn’t the only one looking for a splashy market debut.

Also jumping into the public market fray is Canada Goose, although the jacket maker isn’t expected to get anywhere near the reception of the Snapchat parent, which started trading Thursday with a market valuation of $33 billion.

Canada Goose Holdings Inc. amended its IPO paperwork Thursday with plans setting its offering price between 14 Canadian dollars and 16 Canadian dollars, or $10.45 and $11.95. The stock will be offered on the Toronto Stock Exchange and the New York Stock Exchange.

The company plans to sell 7.1 million shares, while investors Bain Capital and chief executive officer Dani Reiss will move another 12.9 million shares. Including over-allotments given to underwriters, 23 million shares of the firm could be sold.

At the upper end of the range, the offering could raise $274.9 million. Canada Goose plans to use its portion of the proceeds to pay down debt.

In its filing, the company ticked off its perceived strengths and said it has an authentic brand that is proudly produced in Canada, uncompromised craftsmanship, a flexible supply chain, a global following, multiple channels of distribution and a committed management team.

“We have built a strong foundation as Canada Goose has evolved into a highly coveted global outerwear brand,” the filing said, noting that revenues have seen a three-year compounded annual growth rate of 38.3 percent, while net income increased at a 196 percent clip.

To keep growth up, the brand plans to build more brand awareness, enhance its wholesale network and rev up its e-commerce-led direct to consumer rollout.

The company has two of its own stores, in New York and Toronto.

Despite the mini flurry of offerings, J. Jill is also in the process of going public, it has been a slow season on Wall Street, even as the market hits new highs. Fashion brands in particular have struggled as retail traffic waned with a tough holiday season and more online sales.

load comments
blog comments powered by Disqus