Canada Goose opens store in Beijing
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Winter clothing firm Canada Goose has finally opened its first Mainland Chinese store in Beijing. In a launch rumoured to be delayed due to political tensions between China and Canada – and dismissed by the firm as the result of construction delays – extensive queues saw shoppers waiting for over an hour for the opportunity to purchase the CNY9000 (US$1300) parka jackets.
The brand has previously enjoyed significant popularity in Hong Kong.
An email from the firm to news agency Reuters read “We are proud of our newest store in China and look forward to welcoming our fans”.
Calls to boycott the brand were made on social media following Canada’s arrest of Huawei Technologies’ CFO Meng Wanzhou, a situation that has sparked a 37 per cent drop in the value of Canada Goose shares in Toronto.
Questions & Answers
Q.What is the approximate cost of a Canada Goose parka jacket in Chinese Yuan and US Dollars?
What is the approximate cost of a Canada Goose parka jacket in Chinese Yuan and US Dollars?
A Canada Goose parka jacket costs around CNY9000. This is approximately equivalent to US$1300, according to the article.
Q.Where else in China has Canada Goose previously been popular?
Where else in China has Canada Goose previously been popular?
Before opening its first Mainland Chinese store in Beijing, the brand had already enjoyed significant popularity in Hong Kong.
Q.What event led to calls for a boycott of Canada Goose and a drop in share value?
What event led to calls for a boycott of Canada Goose and a drop in share value?
Calls for a boycott emerged on social media after Canada arrested Huawei Technologies' CFO Meng Wanzhou. This situation also sparked a 37 per cent drop in Canada Goose shares.
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