Canadian outerwear brand to showcase latest collection as it strengthens its presence in China
Key Takeaways:
- Moose Knuckles will make its Shanghai runway debut on October 24 at the Feiyang Skating Center, showcasing its Fall 2024 collection.
- The event aims to engage with Shanghai’s fashion-forward audience, strengthening the brand’s position as a functional and fashion leader.
- China’s largest puffer jacket company, Bosideng, recently acquired a strategic stake of over 30% in Moose Knuckles.
- Both companies see the partnership as an opportunity for mutual growth, particularly in the high-end down jacket market.
Canadian luxury outerwear brand Moose Knuckles is set to debut its Fall 2024 collection on a Shanghai runway on October 24, with the event taking place at the Feiyang Skating Center. Named “Step in the Moose World,” this runway show is part of the brand’s strategy to engage with Shanghai’s fashion-forward audience, further establishing Moose Knuckles as a functional and fashionable brand in China.
Moose Knuckles first entered the Chinese market in 2019, following an investment from Cathay Capital, a Paris-based private equity firm. The same year, the brand opened its first retail location in Beijing’s SKP-S department store. Since then, Moose Knuckles has rapidly expanded across the country, now operating 13 stores in 11 major cities.
In a significant development last week, Bosideng, China’s largest puffer jacket company, acquired more than 30% of Moose Knuckles. While the financial terms of the deal have not been disclosed, both companies view this partnership as an opportunity for strategic growth.
“Our collaboration with Bosideng will be a catalyst for our growth in Asia and will strengthen the multicultural, disruptive, and creative spirit that defines our brand and resonates with our global audience,” commented Victor Luis, executive chairman of Moose Knuckles.
Gao Dekang, founder, chairman, and president of Bosideng, shared similar sentiments, stating,
Bosideng will provide substantial strategic and financial support to Moose Knuckles. This is a strategic cooperation with complementary advantages that will inject new momentum into the mid-to-long-term development of both Moose Knuckles and Bosideng.”
This partnership aligns with Bosideng’s ambition to penetrate the high-end down jacket market, a segment experiencing steady growth despite broader economic uncertainties in China. Premium brands such as Moncler and Canada Goose are leading the way in this category, making it a lucrative space for both Bosideng and Moose Knuckles.
In its latest fiscal year ending March 31, Bosideng reported a net profit of 3.1 billion renminbi ($438.4 million), marking a 44% year-over-year increase. The company’s revenue also rose by 38% to 23.2 billion renminbi ($3.3 billion), reflecting strong performance in the down jacket market.