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Canada Goose Inc. is a Canadian cold weather outfit manufacturer which went through a period of tremendous growth that saw its President, Dani Reiss, named as the 2011 National Ernst & Young Entrepreneur of the Year.
Success Factors for the Company
Canada Goose Inc. produces high quality cold weather garments including parka jackets, vests, hats and gloves using coyote fur. The element of quality has made the demand for its products fairly inelastic, thereby enabling the company to charge very high prices for its products without compromising on its sales. The marketing strategies employed by the companyare also a contributing success factor.
The company used to give out its jackets and other warm clothing to anyone who worked outside, for example, the night guards, which led to positive word of mouth advertisement about the business. Furthermore, collaboration with Fairmont Hotel saw pedestrian billboards erected with portraits of hotel doormen and valets receiving guests while dressed in the company’s parka jackets.
Film crews are also a very important part of the company’s promotional strategy, although most of them did so even without contractual engagements with the company. Examples of film crews who had a positive impact in the business include Maggie Gyllenhaal and teen idol Hilary Duff.
Another important success factor for Canada Goose Inc. is its accessibility to customers. The company has expanded internationally to countries like Sweden and the USA in order to reach out to its ever increasing customer base. This brought the products of the company closer to its current and potential customers.
Involvement in corporate social responsibility, such as membership in Conservation Alliance also led to the success of the company in its operations. These activities helped the company a great deal in reducing the negative publicity that arose from its operations, especially its use of coyote fur during production.
Reliance on social media to make customers aware of its products and warn them about the existence of counterfeit products has also assisted the company to maintain and grow its market share.
Challenges Faced by Canada Goose Inc
The major challenge Canada Goose Inc. is facing competition from other companies producing similar products. The companies include Mountain Equipment Co-op (MEC) in Vancouver, North Face in Toronto and Columbia Sportswear Company. These companies produce and sell their products at lower prices compared to Canada Goose Inc., thus creating an uneven competition ground.
There have also emerged cheaper versions of similar products in Asian countries which are filled with low quality duck or chicken down. However, the promotional strategies used by Canada Goose Inc. have ensured that its market share is maintained.
Another challenge that affected the company has been the emergence of counterfeit products in the market by companies that use fur from cats and dogs instead of coyote fur. This saw the company battling it out in court with companies like International Clothiers Inc.
Counterfeiters who imitate Canada Goose Inc. products has also been witnessed in the foreign investment countries like Sweden where a legal battle ensued which saw Canada GooseInc. being awarded damages totalling approximately $ 105,000 CAD.
Canada Goose Inc. has also faced immense criticism from animal rights groups in Canada for its use of coyote fur in production, which undermines the company’s promotional efforts. However, the company has always maintained a contentious stand on this issue by asserting that it only uses animal products as necessary and exclusively for purposes of production.
Reference
Lorinc, J. (2012). PROFITguide. Web.
MRKETPLACE. (2012). When Hell Freezes Over. Web.
Pearce, T. (2012). THE GLOBE AND MAIL. Web.
Press, T. C. (2012). cbcnews. Web.
Robertson, G. (2013). THE GLOBE AND MAIL. Web.
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