Canadian winter coat maker Canada Goose filed for an IPO on Thursday, with the aim of expanding further into its United States market.
It was founded in 1957 in Toronto and is known for its coyote fur-lined hooded jackets.
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.
The company plans to list its shares on the New York Stock Exchange and Toronto Stock Exchange under the symbol GOOS. In 2016, the manufacturer said they brought in almost $291 million in revenue, with more than $100 million of that sum coming from the U.S. Canada Goose initially launched in 2015, and opened its first retail store in NY previous year.
The company says it started off making woollen vests, raincoats and snowmobile suits. Today, it's down coats are priced at $1000 and the students, mostly the college goers or the high school ones, are really inclined to have it in their wardrobe. "We believe offering inspiring new products that are consistent with our heritage, functionality and quality represents an opportunity to develop a closer relationship with our customers and expand our addressable market". Bain has 70% percent stake in the company and after the IPO too, Bain and Dani Reiss, the company's chief executive will have full control of the voting shares. A lot of well-known companies have filed for IPO listings and the investors will have many options in the days to come.