How Canada Goose Became a Film Industry Essential canada goose jobs

How Canada Goose Became a Film Industry Essential

The outerwear brand is a favorite of actors and crews alike.

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Films are immersive experiences. Pictures, sound, movement, and tone play together and invite us into a story to experience it as if it's our own. Every performance, location, costume, and shadow is carefully calibrated. But there are some things that no director or producer—or anyone else—wants you to see, because there can be nothing that distracts from the story.

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"Movies are inherently a mad, pressurized, and uncomfortable process," explains Michael Almereyda, director of Marjorie Prime, which premiered at Sundance this year. "There's an underlying tension because you're always fighting the clock, you're always aware of the limitations that you're up against, and you're always doing your best to dig as deep as you can into the emotional content in the material." But unless the film is about tension and fighting the limitations, those challenges must be hidden from the audience.

Daniel Radcliffe in the Langford Parka on the set of
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Which brings us to Canada Goose. For years, the outerwear brand has fostered relationships within the film industry in a ways we can't see—at least not directly. What started as a sponsorship of the Sundance Film Festival in 2013 has grown to a much larger and robust presence that extends far beyond two weeks in Park City, Utah. Those relationships start long before a film premiers, before the movie is edited, before actors even say their lines.

More than five years ago Rose Ganguzza, producer on Kill Your Darlings, was gearing up to shoot the movie about the Beat poets in New York City when she realized that it was going to be cold. Very cold. The shooting schedule demanded that the cast and crew spend extended periods of time shooting outside in the North East during winter. That's a huge liability.

"If a key person, or a grip, or somebody else gets sick, you're in a situation. Every day that you're out is costing you money," she says. Even on a smaller film, losing key crew can cost the production up to $150,000 a day. "You can always rest assured if you're shooting in winter that you're going to have these problems." But proper preparation, and a couple warm jackets, can change that.

The way Ganguzza tells it, it went like this: "I reached out to Canada Goose, literally on a cold call, and said, 'I've got all these wonderful young stars. We're going to be outside practically 75% of the shoot and I need to protect them. But I don't need to just protect my stars, I need to protect my crew.' And Canada Goose dressed everybody on set." Producers, actors, the director of photography—everyone got fitted. The crew warmed up.

"I actually have two now," Leslie Zak says years later. Zak worked as the script supervisor on Kill Your Darlings. "They're basically the foundation of my winter kit."

Mariska Hargitay on set.
Canada Goose

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Those Canada Goose jackets never appeared in the movie, even though the stars like Daniel Radcliffe were wearing them everyday. But the impact is there. As an audience member we see and experience everything that's on screen, but so much of what happens off screen makes what's on screen possible.

There's a story that has become legend about when Dustin Hoffman was filming a scene in 1976's Marathon Man. His character had been awake for three days, and to prepare, Hoffman didn't sleep all that time either. He was a wreck after shooting the scene, totally depleted. Laurence Olivier, noticing his costar at his limits, asked him what was wrong, and Hoffman confessed the truth. "My dear boy," Olivier reportedly said, "why don't you just try acting?"

"Forget all the legends about uncomfortable, even terrifying shooting conditions that helped to create better films," says Nacho Vigalondo, director of the upcoming feature Colossal. "The set has to be the very definition of a comfort zone, and I should add the director has a big responsibility here. It has to be the place where you want to stay and give the best of yourself. From the very beginning, the building of narrative has always needed a good campfire."

Steven Soderbergh and Gary Ross (in the Chateau Parka) filming
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Vigalondo directly references the first-known telling of stories in all of human history: the Goat Songs that were told around a warming fire, long before any were written down. The very concept of telling stories was born in a comfortable place after a hot meal.

Colossal is an inherently uncomfortable movie because it tells a totally new story in a totally new way. The American movie-going public has never seen a movie like this before, and never seen a story told like this. To call Colossal "genre-bending" is to still only get halfway to describing the film. For his cast to be able to do the emotional and intellectual acrobatics required to tell this story, nothing could get in the way—physical comfort included.

Rihanna on the set of
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"I have to keep in mind that they are a person, and if they're not comfortable or they're so cold they can't function, they will not be able to perform to the best of their abilities," says Antoinette Messam, costume designer on Colossal. "And it's not my job to hinder that craft."

Some of the most crucial scenes in the movie take place in the dewy early hours of the day, filmed on location in the Pacific Northwest, an area known for its damp, bone-chilling cold That pervasive chill can do a number on anyone who isn't used to it, and even some who are. Messam remembers being on set early in the shoot and offering one of the stars, Jason Sudeikis, his coat between takes so he could stay warm. Sudeikis wouldn't take it.

"Oh, no, I'll be fine. It's not that cold. I'm a New Yorker," he said, according to Messam. But just hours later he was looking for his jacket again. "They try to toughen it up, and then they get over it real fast," she says with a laugh. And the choice of jacket was obvious: Canada Goose.

It's almost hard to discern what Canada Goose gets out of supporting the film industry in this unique way, but if you're unsure, just look for a paparazzi picture of Daniel Radcliffe any winter after shooting Kill Your Darlings. He's wearing Canada Goose every time.

Ganguzza explains: "Once people use a product—if it's a good product and if it not only serves them but if it wears well, if it's something that will last you forever—you're going to want to wear that all the time." One by one, each star they outfit has become a walking advertisement for Canada Goose, making for PR any brand would envy but none could buy.

Relationships work, especially when they're authentic.

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canada goose jackor

Canada Goose (Branta canadensis)

Description
Canada goose

Size

  • Body length ranges from 55 to 122 centimetres (2 to 4 feet).
  • Wingspan can measure up to 178 centimetres (about 6 feet).

Appearance

  • White cheek patches on a black head and neck identify these geese at rest or in flight.
  • The back and wings are grayish brown, the breast and sides light grayish brown, with abdomen and upper and lower tail coverts white.
  • The beak and legs are black.

Voice/Call

  • Call is a loud and familiar ah-honk.
Distribution
  • These geese are widely distributed, ranging from the northern United States to the Arctic. Occasionally, they winter in southern Alberta.
Natural History

Habitat

  • Canada geese nest on the ground, preferably on islands in the many rivers and lakes and occasionally in nesting boxes.

Food

  • Their food consists of eel grass, grass shoots and grain.
  • They make regular morning and evening flights from the lakes to grain fields and feed in the same spot for several days if not disturbed.
Reproduction and Growth

Breeding Behaviour

  • The nest consists of reeds and grass, lined with down.
  • Four to seven eggs of a creamy-white color are laid.
Conservation and Management

Status

Canada geese are classified as Secure in the current General Status of Alberta Wild Species report. See:

  • General Status of Alberta Wild Species

Current management

Hunting

Hunting season information for this species is provided in the current Alberta Guide to Hunting Regulations. To view the guide online or to order a printed copy, visit the My Wild Alberta website at:

  • Hunting: Regulations

 

Page Information

Updated: Jan 8, 2014



This Canadian Goose Is Going To Fly

| About: Canada Goose (GOOS)

Summary

Canada Goose is just beginning to gain traction across the United States and abroad, revenue can be expected to grow further.

Superior quality and craftsmanship give Canada Goose a sustainable competitive advantage against competitors.

New products will broaden Canada Goose's geographical expose and further increase revenue.

With Canada Goose (NYSE:GOOS) going public last week, investors will have another option when searching for growth in the luxury apparel market. Canada Goose designs, manufactures, distributes, and sells luxury outdoor wear. Founded in 1957 by Sam Tick, the Toronto based company specialized in woolen vests, raincoats, and snowmobile suits. As the company continued to evolve and grow, they developed their signature product, which remains the face of their brand today, the parka. Built to conquer extreme temperatures, the expedition parka is best in class. It's received critical acclaim from extreme adventure athletes, award-winning directors, actors, and Olympians. As a luxury brand their products are priced rather expensively. Parkas range in price from $700-$1,500 and lightweight down jackets run anywhere between $400 and $1,000. They've recently introduced a spring line which is priced slightly cheaper than their lightweight down jackets. Their offering was for 20M shares and was priced at CA$17.00, raising CA$340M or roughly $225M. Shares closed up over 7% Friday afternoon on the NYSE, garnering a valuation of $1.7B.

(Source: canadagoose.com)

Fashion Trends and Growth Strategy

Growth with luxury fashion brands can be tricky. While we all want to see rapid growth, pushing the envelope could cause irreparable damage to the brand. From a psychological point of view, part of what makes luxury goods desirable is knowing that other people can't have them. Canada Goose has brand value, they've built a company that's developed best in class outdoor wear and they mustn't face the temptation that comes with this. Slapping their logo on products that either don't fit into their product portfolio or lack industry leading quality will cannibalize sales. What's exciting is that Canada Goose's management is aware of this. Management is focused on growing the brand into a worldwide name, while maintaining the same quality and craftsmanship that made them successful. As discussed throughout their F-1, they plan to continue building the brand the way they always have, with a mix of traditional marketing routes as well as organic word-of-mouth brand building. Canada Goose has shown tremendous growth the past three years in the United States and internationally.

(in CAD millions)

2014

2015

2016

14-'16 CAGR

Canada

$ 72.5

$ 75.7

$ 95.2

14.6%

United States

$ 33.6

$ 57.0

$ 103.4

75.5%

Rest of World

$ 46.0

$ 85.7

$ 92.2

41.6%

Total

$ 152.1

$ 218.4

$ 290.8

38.3%

(Original Content, Data from SEC Filings)

Canada Goose is focused on increasing brand awareness in the Unites States to a level akin with Canada. A survey conducted by the company in August of 2016 indicated that many people outside of Canada are unaware of the brand. Increasing brand awareness is necessary if they plan to continue growing at their current pace. Aided brand awareness in the United States and Canada came in at 16% and 76%, respectively. Canada Goose has rolled out their United States campaign on a regional level. Starting with the Northeast, which has aided brand awareness levels in Boston and New York City of 46%, relative to 25% for the Northeast as a whole. Currently efforts are being focused on expanding into the Midwest and mid-Atlantic regions (18%) as well as the West (14%). It's hard to believe that there are not major opportunities for Canada Goose in cities like Denver, San Francisco, and Seattle.

Product Expansion

It's important as prospective investors to understand what Canada Goose plans to do to drive growth moving forward. Inside their F-1 they discuss their plans to "enhance and expand" their product portfolio. Canada Goose is currently a three season outdoor brand; winter, spring and fall. Their plans to expand are laid out in three categories; elevating winter, expanding Spring and Fall, and extending beyond outerwear. Their plan for winter is quite simple, continually update the design and fit of their products while "staying true to their tactical industrial heritage." The launch and growth of the Spring and Fall lines are an essential component in Canada Goose's evolution as a company. Success here is important for one major reason, geographic brand penetration. The main product for Canada Goose, the parka, is a niche product. People in warm climates have no practical need for a winter jacket, let alone a parka of this quality. Let's use San Francisco as an example, a parka is not necessary in 45-degree weather. However, a jacket of some sort is definitely something most people will purchase at one time or another. Canada Goose's Spring and Fall line feature lightweight and ultra-lightweight down, rainwear, windwear, and softshell jackets. By expanding beyond the parka, they'll be able to sell in regions that previously has no demand. Finally, Canada Goose plans to expand beyond outerwear. Data collected in customer surveys have suggested that customers are looking for functional products in categories other than outerwear. This includes knitwear, footwear, fleece, travel gear and bedding. Canada Goose plans on introducing new functional products that are consistent with their heritage. Sticking to this plan should ease investor worries of brand dilution.

Fundamentals

Despite a steep P/E ratio of 45.5, one of the highest in the industry, Canada Goose has fundamentals that warrant their lofty valuation. Gross margins have steadily increased and appear to still have some room to go higher. Gross margins have increased from 38.6% in 2014 to 50.1% in 2016. Their next fiscal year ends March 31st, 2017, gross margin for the nine months that've been reported in the current period is 52.3%. Further increase of margins, especially as new product lines are introduced, is a very healthy indicator for future success. Revenue is also growing at a rapid pace up over 33% from 2015 to 2016.

The path forward for Canada Goose is paved with gold. I expect them to follow a similar path that Michael Kors (NYSE:KORS) did in their first few years public. However, I don't believe a massive crash is in store for them. Unlike Michael Kors, which competes in an extremely crowded market. Canada Goose is in a class of their own, in terms of quality they crush the likes of The North Face (NYSE:VFC) and Patagonia. Michael Kors faces competition from Coach (NYSE:COH), Kate Spade (NYSE:KATE), Fossil (NASDAQ:FOSL), Louis Vuitton (OTCPK:LVMUY), Calvin Klein, and many more. The difference between Michael Kors and Canada Goose is that Canada Goose has a clear competitive advantage. With Canada Goose you're buying more than a luxury logo, you're paying for craftsmanship that's a level above others in the industry.

KORS Chart

KORS data by YCharts

Conclusion

Canada Goose is the embodiment of the entrepreneurial dream. Founded by an immigrant, rooted in quality, design, and pride of country, this brand is not just a flash in the pan. While I remain cautious about future growth I believe this is just the beginning for Canada Goose. In the short term this company is a buy. However, long term sustainability, as with all fashion trends, remains questionable.

While my anecdotal exposure is just one point of view, I believe it may be beneficial to readers. As a college student in Buffalo, New York staying warm is a concern for many. Throughout 2014 and 2015 I saw Canada Goose jackets sparingly across campus, mostly worn by international students of Asian decent. However, Canada Goose has become an extremely popular brand across campus in late 2016 and early this year. There hasn't been a day since November in which I haven't seen a Canada Goose jacket while walking to class. Despite the expensive price, the brand is gaining traction especially among millennials.

Disclosure: I am/we are long GOOS.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

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