Launched in 2017, Paola Confectii has been a partner of Canada Goose in manufacturing luxury knitwear, a segment that surpassed $70m in annual sales in fiscal 2023.
The Romanian company manufactures a range of styles including the HyBridge knitted jacket.
The acquisition will improve Canada Goose’s product margins and supply control, strengthen its in-house product expertise and support its strategic growth plan.
It will also expand the company’s network with the first facility in Europe to complement its existing network of seven facilities across Canada.
Canada Goose chairman and CEO Dani Reiss stated: “Our vertically integrated supply chain has always been one of our core competencies. This strategic investment advances our renowned manufacturing infrastructure and validates the performance luxury brand we are today.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“It also demonstrates the confidence we have in our emerging categories and our plans to develop these categories into even more meaningful contributors to our business.”
Paola Confectii will operate as a standalone entity under its current leadership team of general manager Giannino Lessi and technical director Paola Zaffalon.
Canada Goose will continue to manufacture its core down-filled products in Canada, and apparel in European facilities.
In its recently released fiscal 2024 second-quarter results, the company reported gross profit growth of 8% and a revenue increase of 1% compared to the same period in fiscal 2023.