Canada Goose, maker of Arctic coats costing as much as £900, has applied for a stock market listing in NY and Toronto.
The company indicated it is seeking to expand globally.
The filing specifies that Bain will continue to have a controlling interest even after raising the corpus through IPO. The Toronto-based company reported revenue for the nine months ended December 31 of C$352.7 million, up from C$248.9 million in the same period a year earlier, and net income that rose to C$42.1 million from C$35.7 million.
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The Toronto-based retailer, which filed with a $100 million placeholder amount used to calculate fees, will seek to raise as much as $300 million in the sale, people familiar with the matter have said, for a company valuation of about $2 billion. That was up from $14.4 million in net income on $218.4 million in revenue a year earlier. And if you need a Canada Goose coat, you probably have one, and no one needs two. Risks to the business include the expense of expanding into new markets and competition.
Starting in Toronto, the brand now has a presence in 36 countries across the globe through a wide network of about 2500 wholesalers. No pricing terms were disclosed.
CIBC, Credit Suisse, Goldman Sachs, RBC Capital Markets, BofA Merrill Lynch, Morgan Stanley, Barclays, BMO Capital Markets, TD Securities, Wells Fargo Securities, Baird, Canaccord Genuity and Nomura Securities are the joint bookrunners on the deal.