18:14:09 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Globe says Canada Goose, Lululemon doing well in China

2023-05-25 08:12 ET - In the News

See In the News (C-GOOS) Canada Goose Holdings Inc

The Globe and Mail reports in its Thursday, May 25, edition that Canada Goose Holdings and Lululemon athletica are doing a brisk business in China. The Globe's guest columnist Jacob Cooke writes that demand for Canadian products is booming in China. Tuesday's release of former governor-general David Johnston's foreign-interference report on China is not likely to dampen demand. Many observers believe that trade is unlikely to be affected by this diplomatic row. Canada Goose just announced that its Asia-Pacific revenue jumped 65 per cent last quarter, driven by the recovery of consumer spending in China. If you stroll through Beijing's streets in February, you will quickly lose count of how many Canada Goose jackets you see. If you stroll through Beijing's streets in May, you will be equally amazed by the number of people sporting Lululemon. The athleisure giant just opened its 101st store in China. You can now shop at a Lululemon store in 36 Chinese cities. Lululemon's China revenue was up 70 per cent year-on-year in 2022. Canadian brands are popular because they align with Chinese consumers' aspirations and lifestyle choices. Mr. Cooke says demand for Canadian products is not showing any signs of decreasing.

© 2024 Canjex Publishing Ltd. All rights reserved.