Moose Knuckles Announces Increased Investment and Expanded Leadership Role of CEO for Shareholder and Executive Chairman Victor Luis
New Corporate Structure Propels Global Growth and Expansion
MONTREAL, Sept. 1, 2021 /PRNewswire/ - Rapid and momentous changes are afoot at Canadian luxury outerwear and sportwear brand, Moose Knuckles, since the recent announcement of industry veteran Victor Luis' appointment as Executive Chairman and his financial partnership with Moose Knuckles' co-founders and global investment firm Cathay Capital.
After several months working alongside co-founders Noah Stern and Ayal Twik, Luis' role is expanding to include CEO, driving the brand's global vision, while Stern and Twik will lead the creative aspects of the business as Chief Product Officer and Chief Marketing Officer, respectively. Both will retain their board seats and maintain their respective shares of ownership in the company.
"I am super excited to be able to focus full time on what I love which is driving culture, brand building and fostering consumer engagement," says Twik. "I could not be more thrilled about our quickly increasing growth and scale and the strong teams we have in place to execute our strategies. This change in corporate structure will allow me to focus on areas I am passionate about."
Says Stern, "I could not be more proud of the global luxury brand we have built and the exceptional products we continue to bring to market. Our coats and parkas are rated as the world's warmest, and as we expand our offering into other seasons, I am so charged to focus all my energies on continuing to break boundaries in creating killer fashion products of the highest quality. All of our teams are excited to bring innovative products and experiences to Moose Knuckles' fans across the world."
Moose Knuckles recently announced a range of environmental and social initiatives focusing on the long-term sustainability of its global footprint. The company also recently announced the end of production with natural fur by end of 2022. This commitment, along with becoming a multi-season brand and leveraging new digital channels globally are foundational pillars of its growth strategy.
Twik and Stern added, "Victor is one of the rare leaders in the industry – one who has a commercial view to business while maintaining and inspiring a deep respect and passion for the creative process. We admire the way he thinks about business, luxury, culture, and the fashion industry as a whole. He also shares our belief in the importance of a culture-led company that is focused on creating memorable consumer experiences one client at a time. We have a strong management team in place and are excited to have Victor as the company's Chairman and CEO as we prepare to capture the tremendous opportunity ahead for long-term global brand growth."
Over the past five years, Moose Knuckles has continued to track significant double-digit year-over-year growth. Last year alone, the brand experienced a nearly triple-digit increase in direct-to-consumer sales along with a 12x growth in China, despite the challenges of the pandemic.
"There has never been a more exciting time for branded luxury outerwear and Moose Knuckles is poised to become the next big player in the global market," says Victor Luis, Executive Chairman and CEO of Moose Knuckles. "My family's increased equity investment is a reflection of our excitement over what we have learned during the last several months and the tremendous opportunity for growth ahead of us. Moose Knuckles' recent organizational changes are built to capture and accelerate growth as we continue to recruit top talent and transform systems and processes to support the brand's global expansion and elevate our capacity to execute at the highest levels."
While Moose Knuckles' wholesale business remains significant with distribution in the finest retailers in over 30 countries worldwide including Selfridges, Holt Renfrew, Saks Fifth Avenue, Isetan, and Lane Crawford, the brand has aggressive plans to increase its global brick-and-mortar footprint to over 35 stores and pop-ups in addition to significant investment behind its ecommerce flagship, focusing on more meaningful direct-to-consumer experiences.
Download a hi-res photograph of Victor Luis, Noah Stern, and Ayal Twik HERE.
About Moose Knuckles:
Moose Knuckles is one of the world's leading brands of luxury outerwear, sportswear, and accessories, based in Montreal, Canada. With an emphasis on creating exceptional, handcrafted products, Moose Knuckles continues to push the boundaries of design, craftsmanship and performance, all while paying homage to the majestic animal that inspired it all. Moose Knuckles has offices in Montreal, New York, Milan, and Shanghai, and currently operates 17 brick-and-mortar stores, including three in China.
For more information, please visit: www.mooseknucklescanada.com
Follow us on Instagram @mooseknucklescanada
About Victor Luis:
Victor Luis, an independent director of Farfetch Ltd. and Deckers Outdoor Corp, has decades of experience in global brand building. After a long career with French luxury firms Moet-Hennessy Louis Vuitton and Baccarat, he joined Coach in 2006 as President and CEO of Coach Japan. He became CEO of Coach Inc in 2014 and went on to lead the revitalization of the Coach brand and the transformation of Coach Inc. to Tapestry Inc.
About Cathay Capital Group:
Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa. By helping navigate the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and leading corporations – across continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages over $4B in assets, has completed over 180 buyouts, growth and venture capital investments with the global reach and local expertise from offices in Paris, New York, Shanghai, Munich, San Francisco, Beijing and Singapore.
For more information, please visit www.cathaycapital.com
Follow us on LinkedIn, Twitter @CathayCapital
SOURCE Moose Knuckles Canada
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