High demand among Hong Kong shoppers sees Canada Goose plan flagship store selling arctic winter coats for US$900
Demand from mainland China also plays part in move, as Tourism Board reveals increase in arrivals and the government says retail sales have jumped 12.3 per cent
Canada Goose will open a flagship store in Hong Kong this autumn, tapping into the luxury brand’s appeal among the city’s fashion-conscious residents.
With the coat maker also popular with mainland Chinese, who are returning to the city to shop, Dani Reiss, the president and chief executive of Canada Goose, said being based in the city made sense for the brand.
The news comes as Hong Kong tourist arrivals rose 11 per cent for April compared with a year earlier, a third consecutive month of growth, according to numbers from the Tourism Board. Meanwhile, the government said retail sales jumped 12.3 per cent year on year.
“A lot of people from the mainland often go to Hong Kong to buy products. That’s one of the reasons why it makes sense for us to have a store in Hong Kong,” Reiss said. “Even though it’s a warm-weather climate, [where the temperature] almost never goes under zero.”
The Toronto-based company recently outlined its expansion into China, with two flagships stores in Hong Kong and Beijing respectively, and an e-commerce business on Alibaba’s online Tmall. It will also set up a local office in Shanghai. Alibaba owns the South China Morning Post.