Arctic-functional... Fifth Avenue-fashionable. According to Canada Goose its jackets are packed with humanely-sourced goose down and lined with fur from coyotes in "overpopulated" areas (where the carnivores attack pets). So dropping $1,000 on a faux-rugged parka makes you feel ok. Canada Goose's website said so. But shares fell after the New York Post noticed that website changed.
- Deleted: No more "traceability video" to see where that coat's feathers and fur came from.
- Replaced: "We ensure ethical sourcing" is now "we're committed to ethical sourcing."
This goes back to 2017... And it begins with the People for the Ethical Treatment of Animals:
- PETA got its hands on a video of a bunch of guys man-handling geese in an inhumane way. PETA alleges it was a Canada Goose supplier (Canada Goose denies this).
- The FTC began looking into Canada Goose for “potentially false and misleading advertising” given all the our-fur-is-humane material on their website.
- NY Post noticed Canada Goose made "prompt, corrective action" to its website by totally watering-down its ethical promises.
There's market value in 'wokeness'... Definition: Being acutely aware of social injustices and acting accordingly. We're seeing corporations take stands on social issues, from Nike's Kaepernick campaign to Patagonia's climate change initiatives. But Canada Goose's un-wokeness cost shareholders a 5% drop — investors think customers judge values as much as they do style.