Canada Goose Says It’s Not Just for Winter With NBA Agreement
(Bloomberg) -- Canada Goose Holdings Inc., the company known for its Arctic-ready luxury parkas, announced a partnership with the National Basketball Association that will showcase its foray into warmer-climate collections.
Under the multiyear agreement, Toronto-based Canada Goose will produce capsule collections timed around the NBA's annual midseason All-Star game. The manufacturer will collaborate with different designers, starting this year with L.A.-based RHUDE on a four-piece, unisex collection that includes a vest and a trench coat.
The NBA contract bolsters Canada Goose's efforts in recent years to broaden the brand's appeal beyond winter months with light coats and knitwear. As it expands in China, it also recently invited designer Angel Chen to take on the brand's flagship parka, with a collection symbolizing the transition from winter to spring.
The company's U.S.-listed shares briefly spiked as much as 7.3% after the announcement, before paring most of the gains. They rose 57% this year through Monday.
The capsule with RHUDE, a popular streetwear brand founded in 2015, will be sold in the U.S. and Canada. It also includes a bomber jacket and a parka designed for below-freezing temperatures, the kind of gear players might not immediately need as they head to Atlanta for the All-Star game March 7, when temperatures are expected to reach 60 degrees.
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