Canada Goose Holdings Inc. (NYS:GOOS) announced on Thursday the launch of an eco-friendly fabric, Kind Fleece, which the luxury outerwear company developed as part of its sustainability commitment. Kind Fleece is made from recycled wool, a plant-based polymer called Sorona Polymer, and a biodegradable fiber made from wood. Kind Fleece is launching with four items, including a women's bomber and a men's vest. The company has also released its ESG report, which includes a plan to develop other new fabrics and a move towards 100% sustainable packaging solutions. Canada Goose has come under fire from animal welfare group PETA for how it sources materials for its merchandise. PETA suspended its campaign against Canada Goose in 2021 after the company pledged to go fur-free. Canada Goose stock has slumped 43.2% over the past year.
April 21, 2022, 2:30 p.m. EDT