Launched in 2017, Paola Confectii has been a partner of Canada Goose in manufacturing luxury knitwear, a segment that surpassed $70 million in annual sales in fiscal 2023. The Romanian company manufactures a range of styles including the HyBridge knitted jacket. Knitwear is one of the leading segments of Canada Goose’s growing apparel category, which exceeded 70 million dollars in annual sales in fiscal 2023.
The company said in a statement that building upon the existing network of seven facilities across Canada, this acquisition marks the company’s first European facility, and supports its strategic growth plan. 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.
Paola Confectii will continue to be led by Giannino Lessi, general manager, and Paola Zaffalon, technical director, as a standalone entity, maintaining regular operations.
Canada Goose’s core down-filled products will continue to be made in Canada, while apparel production will continue to be concentrated within European facilities.
Canada Goose chairman and chief executive Dani Reiss said the deal demonstrated the confidence the company had in its emerging categories and its plans to develop them into even more meaningful contributors to its business.
Founded in 1957 in a small warehouse in Toronto, Canada Goose has grown into one of the world’s leading manufacturers of performance luxury apparel.