Business News

Canada Goose, known for its pricey winter coats, files for an IPO

Canada Goose files for IPO

Toronto-based luxury apparel maker Canada Goose is preparing to file for a U.S. initial public offering of up to $100 million, according to a filing made Wednesday with the Securities and Exchange Commission.

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.

In going pubic, Canada Goose looks to expand globally.

The Canadian clothing maker launched its national e-commerce platform in 2015 and then opened its first U.S. retail store in New York late last year.

"We believe there is a large white space opportunity in other regions such as the Mid-Atlantic, Midwest and Pacific Northwest," Canada Goose said in a statement. The company also looks to grow its stronger markets of the United Kingdom, France, Japan and Korea.

Lead underwriters of the offering include Canadian bank CIBC Capital Markets, Credit Suisse, Goldman Sachs and RBC Capital Markets. Shares will be traded on both the NYSE and Toronto Stock Exchange under the ticker symbol "GOOS."