The start of winter has felt like anything but. This December was the warmest on record for many cities around the world; the Weather Channel even reported that this Christmas might very well have been the warmest “of your lifetime.” And brands are paying for it.
AdAge wrote that retailers lost $185 million in sales in November alone, and BuzzFeed found that many companies are being forced to apply steep discounts to jackets, coats,canada goose down jacket and scarves. There’s one notable exception though. The luxury outerwear category — specifically Canada Goose and its French rival Moncler, two high-end coat brands that have seen remarkable growth over the last few years — won’t be taking much of a hit.
“It’s warm out, but the fashionistas are all wearing their Canada Goose,” WWD deputy editor Arthur Zaczkiewicz told the Guardian last month. “They’re sweating, but they’re doing it. Fashion trumps the weather.”
“While the warmer weather has been unhelpful to the sales of outerwear, the retailers mostly affected are those in the middle market,” says Neil Saunders, an analyst at Conlumino, canada goose mens jacket explaining that mid-market stores are where consumers go to impulse-buy coats when the weather turns cold. “Premium brands like Canada Goose are likely to hold up more as consumers see the purchase of such items as investments.”
For decades, The North Face, Patagonia, and Columbia dominated the outerwear space. If you needed to contend with a harsh (or even semi-harsh) winter climate, outdoor brands you could find at REI were the obvious go-to. Now Canada Goose and Moncler are taking over.
“In terms of luxury, the category that used to be a popular splurge was handbags,” canada goose winter coats Roseanne Cumella, an analyst with the Doneger Group, adds. “Right now, that category is outerwear.”
Experts point to Moncler as the brand that instigated this shift. “Moncler developed more modern and feminine silhouettes in their traditional puffer coats, as well as spearheaded successful collaborations with fashion designers such as Sacai and Thom Browne,” says Jennifer Sunwoo, Barneys’ executive vice president of designer ready-to-wear.