In its continual efforts to enhance its presence in Japan, Toronto-based fashion retailer Canada Goose has formed a joint venture (JV) with Sazaby League Ltd.
The deal states that both Canada Goose and Sazaby League will each own 50 per cent of the Canada Goose Japan JV.
Starting April 2022, the JV will substitute an exclusive national distributor arrangement between both the firms.
The Canadian fashion retailer expects the new agreement to enhance its revenue and gross profit for each unit compared with its existing business.
Notably, the JV expects to make total revenues between US $ 47.7 million and US $ 51.68 million in FY23.
Elated over the deal, Dani Reiss, President and CEO, Canada Goose, said that the new agreement sets the stage for the acceleration of its growth in Japan across both DTC and wholesale.
Founded in 1972 in Tokyo, Sazaby League is a creative retailer, whose businesses include apparel and accessories, amongst others.
Canada Goose, founded in 1957, markets a wide range of jackets, parkas, vests, hats, gloves, shells and other apparel through various avenues, both wholesale and DTC with their own retail stores.
