INTERNATIONAL BUSINESS PLAN

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Kenyatta University School of Economics *

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Business

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Nov 24, 2024

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Running Head: INTERNATIONAL BUSINESS PLAN 1 International Business Plan Course Number: Canada Goose Inc. Student: Professor:

INTERNATIONAL BUSINESS PLAN 2 Executive Summary Canada Goose is one of the most recognizable Toronto-based jacket manufacturers founded by Sam Tick in a modest warehouse. The company's signature style, high-quality craftsmanship, and affordable clothes are usually in high demand though very difficult to secure during the colder months. Canada Goose merchandise may be purchased from not just the company's two flagship locations, but also from select retailers in other parts of the world. This opens up a huge market for its products in other parts of the world. Ultimately, the company hopes to sell more of the product in most of its emerging markets. The business hopes to join the US clothes industry. The company's principal strategy for expanding the reach of its product depends on a social rather than a conventional approach, which has helped it beat the competition. The city of Chicago was chosen as the company's target market because of the country's high level of urbanization, which leads to a greater propensity for customers to invest in high-priced items in an effort to improve their social status. In addition, due to the weather in the United States being so similar to that in Canada, especially during the winter seasons, prospected that the company’s products will do well in this market. Politically and economically, the United States of America is in a better position than most other countries. However, smaller companies are more vulnerable to the effects of politics. This implies that expanding the market and competing with other firms might be difficult, especially for small firms. Nevertheless, a sound financial strategy and an effective business plan are the keys to a successful entry into a new market.

INTERNATIONAL BUSINESS PLAN 3 Business Background Canada Goose Holdings Inc. which is famously known as Canada Goose is a company that specializes in making and selling warm outerwear for men, women, and children throughout the colder months of the year (Wernick et al., 2023). The company has come a long way since its inception in 1957 by Sam Tick under the name Metro Sportswear Limited. Among the items available are knit tops and bottoms, parkas, vests, snow trousers, and waterproof jackets. The company also produces headwear, gloves, and scarves. Canada Goose offers a wide variety of outerwear clothing and accessories for children aged two to seven. This is in addition to a selection for children and adolescents aged eight and above. Filmmakers, scientists, athletes, and other sports-oriented people have their own demands that are catered to by the products made by the company. Canada Goose Holdings Inc. is a conglomerate of Canadian companies that specialize in producing high-quality cold-weather apparel and accessories. Parkas, jackets, vests, hats, gloves, and scarfs are just some of the many outerwear products that Canada Goose manufactures and sells. The company's control over distribution channels has an effect on the wholesale and retail channels. The company has five assembly offices across Ontario, Quebec, and Manitoba (Georgiev & Bernadetta, 2019). The company claims to have retail locations in both Toronto, Canada and New York, USA. The corporate headquarters for Canada Goose are located in Toronto, Ontario. Target Market/Country It is apparent that the consumers in the US market are quite varied and substantial. It is evident Chicago is one of the American cities that is both multicultural and has benefited from

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INTERNATIONAL BUSINESS PLAN 4 urbanization. This has greatly influenced the interest of Canada Goose Company entering into its market. Chicago offers great access to goods and services. On top of that, there are plenty of work opportunities for locals to choose from. The city also provides chances for businesses to increase sales inside the city limits. Between eleven and five hundred Fortune 500 companies are based in Chicago. Furthermore, the city is considered to be the 22nd largest metropolitan region around the globe. This city also boasts a multitude of malls that showcase its wares in this highly populated region. This implies that the city is very strategic for businesses to boom. Business Environment in the USA Political and legal environment The United States of America is renowned for its robust legal system, characterized by its well-established framework, adherence to just principles, and verdicts that are often regarded as rational and straightforward. The country is widely acknowledged as the foremost global powerhouse that acknowledges the immense political and economic sway of both home and international politics. The United States is currently facing global scrutiny for its interventionist strategies in the "War on Terror." These methods have led to a deterioration of relationships with other nations and have also sparked fear-inducing incidents, perhaps leading to psychological warfare. Economic environment The United States has the largest economy globally, having a Gross Domestic Product (GDP) of $16.760 trillion. The industrial and service sectors provide the foundation of this resilient economic framework. The 2009 recession had a severe impact on the nation's economy, leading to a significant increase in the unemployment rate. Nevertheless, due to escalated

INTERNATIONAL BUSINESS PLAN 5 expenditures from both consumers and corporations, the economy had a revival in the third quarter of 2014, with a growth rate of around 4%. It is speculated that the current rise in the budget deficit poses a significant threat to the nation's economic growth. Competitive Advantage The business possesses several distinct advantages over its established rivals in this particular market. One of its advantages is that it has cultivated a positive view of products made in Canada, which will facilitate its growth into prestigious brands. Another advantage is the company's ability to sustain its collaboration with the hype label. This is attributed to its self- positioning as a high-quality fashion brand, which is reinforced by its commitment to quality assurance and its extensive 60-year history in designing and manufacturing winter coats. Moreover, the renowned brand name and distinctive symbol foster viral marketing and advancements in both the fashion and technological sectors catering to client needs. The corporation will commonly encounter rivalry between two entities in Chicago. These entities are Parka and the Chicago Mercantile Exchange. It is apparent that Canada Goose and Chicago Mercantile Exchange Inc. are seen as equals and atypical under specific circumstances. This makes it a bit challenging for Canada Goose to effectively compete with it since it is an already established company. Furthermore, the company logo has a certain degree of resemblance, leading to customer confusion. The personal brand of Canada Goose, however, is visually impressive. The discrepancies mostly stem from variations in the costs of the products from the two companies. The other distinction is in the superior quality of Canada Goose products, which are of the utmost excellence compared to those of their rivals. The jackets produced by the company's competitors are of poor quality. This has significantly bestowed the organization with a substantial advantage over competitors.

INTERNATIONAL BUSINESS PLAN 6 Business strategy Canada Goose's business strategy is heavily dependent on the performance of brand outlets. This is because the overall success of the firm is closely correlated to the success of each brand outlet. The company is always striving to achieve its long-term goal of strengthening relationships with its most important stakeholders by attending to the needs and wants of its customers. The culture of this company is greatly influenced by personal ideals. It is also apparent that the key stakeholders are very paramount if the business wants to succeed and reach its goal. Brand outlets, employees, and management are all considered stakeholders. In order to achieve the goal of expanding its business empire into the US market, the company will need to utilize a creative and flexible business strategy. The business will require the teamwork of all the key stakeholders in order to ensure that it expands into a foreign market. It is also quite clear that leadership is critical in every facet of the business, from growth to marketing. With the right people on board and the right training, the company can create an "outstanding clothing service business" and reach its goal. In order for a company to continue growing, innovation and creativity are crucial since they give rise to new ways of doing business and potential products and services. In its pursuit of the goal of expanding to new foreign markets, Canada Goose has brought together a committed team that is both equipped to deal with any challenge and able to look at the bigger picture. Adjustments are being made successfully in response to the evolving needs of the brand in development, marketing, operations, and leadership. The company hopes to increase revenue, expand the brand's customer base, and boost market share in the end.

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INTERNATIONAL BUSINESS PLAN 7 Financial Plan The objective of a financial plan is to achieve a harmonious equilibrium between anticipated revenues and expenses, enabling a firm to sustain profitable activities in the long run. The provided financial plan includes projections of the required funds for the implementation of several components of the business strategy. An estimate is required for every component of the business plan. A well-crafted financial strategy or plan is crucial for the success of a firm since it dictates the allocation of finances and guides the implementation of the overall plan. The company expects to spend about five million dollars in its venture into the new market. Approximately 3% of these funds will be used to market the company’s brand in this new market. 15% will be used to cater to the staff and workers who will be employed to run the errands of the company in the new market. 2% of the funds will be used on miscellaneous. The remaining 80% of the funds will be used as start-up capital. Conclusion Canada Goose Inc. Holdings is a company that has a high possibility of succeeding and doing very well in the US market apparel market. This is because the company’s home country has a lot of things in common with the United States. The political and cultural environment of Canada is almost similar to that of the United States. However, there are some things that the company needs to take note of when making its entry into this new market. The company needs to fully understand the legal and political environment of the United States. It ought to know to rules and regulations that it needs to abide by while in the apparel market of the US. In addition to this, Canada Goose Company needs to understand its competitors and know how it will gain a competitive advantage over its rivals. Having a good business strategy in place significantly helps any given company to succeed in entering any market. It is prudent for Canada Goose to

INTERNATIONAL BUSINESS PLAN 8 have a well-functioning and effective business strategy. In addition to this, the company ought to have a well-developed financial plan. The financial plan will greatly help the company to determine the allocation of funds in its new market.

INTERNATIONAL BUSINESS PLAN 9 References Atkinson, N., 2020. Style: Canada Goose makes its coats for foresters and fashionistas. Available at: https://nationalpost.com/life/style-canada-goose-makes-its-coats-for-forestersand- fashionistas Georgiev, B., & Bernadetta, S. (2019). INSIGHTS AMONG EUROPEAN CONSUMERS TOWARDS THE CULTURAL BRANDING AND IDENTITY OF THE CLOTHING MANUFACTURER “CANADA GOOSE (Doctoral dissertation, Master Thesis, Aalborg University). Wernick, D., Branch, J., & Pescariu, A. (2023). Canada Goose Spreads Its Wings: Global Expansion Amid Turbulent Skies. American Journal of Management , 23 (1), 27-40.

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