Despite Political Tensions, Canada Goose Opens First Store In China (NYSE:GOOS)

Canada Goose is surging after opening its first store in China

Canada Goose is surging after opening its first store in China

Concerns of a Chinese boycott of Canada Goose Holdings Inc. may have been overblown, as shares of the apparel-maker's jumped following the opening of a flagship store in Beijing. "Opened after a short delay, its first Mainland China flagship in Beijing is already hugely popular".

But that outrage didn't appear to hamper the excitement for the first Canada Goose store opening in mainland China this weekend.

Canada Goose staff were seen walking up and down the queue asking shoppers which product they were looking for and then telling them whether or not they had it in stock. The Hong Kong store opened earlier this year.

At the request of USA authorities in early December, Canadian authorities arrested Huawei CFO Meng Wanzhou.

The Beijing store's debut was delayed two weeks, Reuters reported, though the company made "no connection" to the heightened tensions between the two countries.

Canada Goose shares
Markets Insider Canada Goose shares

On Monday, construction workers were still seen on scaffolding on one side of the store.

The fraught-sometimes overwrought-relations between Canada and China continue to simmer and bubble up following the arrest of the chief financial officer of the Chinese techno giant Huawei at Vancouver Airport on December 1.

Canada Goose said the delay in its store opening is due to construction work and according to Reuters there were construction workers in the store Monday. Since Meng's arrest, Canada's Goose's stock had dropped more than 38 per cent.

Meng has said she is innocent.

The stakes are high for the maker of high-end goose-down coats, which enjoy significant brand recognition in China's big cities.

China's Xi Jinping threatens resort to 'force' to unify with Taiwan
Chinese authorities would like to bring the island under their control and they have indicated they would use force, if needed. Mr Xi reiterated in his speech that China will not give up the use of military force to ensure Taiwan returns to the fold.

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