Canada Goose opens Beijing store following delay
Winter apparel maker has seen stock price drop since arrest of Chinese tech executive
Canada Goose Inc., says its new store in Beijing has opened following a delay.
The Toronto-based luxury parka maker has said the delay was due to ongoing construction.
The announcement of the delay came in mid-December, in the midst of growing tensions between China and Canada following the arrest of Huawei Technologies chief financial officer Meng Wanzhou in Vancouver.
There had been chatter on social media site Weibo from Chinese consumers who proposed boycotting the pricey winter coat brand after Canadian authorities arrested the Chinese tech executive on Dec. 1, at the behest of the U.S.
Canada Goose stock has dropped by about 36 per cent since Meng's arrest, closing at $57.06 on Friday, apparently over concerns about a slowdown in sales.
Earlier this year, Canada Goose announced its China expansion plan, which also involves an office in Shanghai and a store in Hong Kong.
With files from CBC News