Ex-Tapestry CEO Luis invests in Cathay-backed Moose Knuckles

Montreal-based Moose Knuckles, a luxury outerwear, sportswear and accessories brand, has raised an investment from ex-Tapestry CEO Victor Luis.

Montreal-based Moose Knuckles, a luxury outerwear, sportswear and accessories brand, has raised an investment from ex-Tapestry CEO Victor Luis. Luis, who with the deal becomes the company’s executive chairman, joins existing investor Cathay Capital. No financial terms were disclosed.

PRESS RELEASE

Montreal, Quebec, Canada. June 9, 2021 – Moose Knuckles, the Canadian luxury outerwear and Sportswear brand, announces a significant investment from Victor Luis and his appointment as its Executive Chairman. Luis, the former CEO of Tapestry, Inc. (the company that owns Coach, Kate Spade and Stuart Weitzman), is partnering with Moose Knuckles’ founders and Co-CEOs, Noah Stern, Ayal Twik and their families, along with global investment firm Cathay Capital to be an investor in the company. Moose Knuckles has experienced significant double digit year-over-year growth during the past five years. Under Luis’ guidance, it plans to broaden and accelerate its expansion.

Moose Knuckles is one of the fastest growing luxury outerwear brands and is quickly diversifying its growth across product categories and international markets. With an emphasis on sleek aesthetics, unrivaled craftsmanship and the highest performing materials, Moose Knuckles’ unique approach blending Canadian craftmanship and bold cultural narratives is strongly resonating with young consumers globally. Having established a strong foundation in North America and Europe, the Moose Knuckles team is now focused on expansion into Asia, specifically China, the single largest geographic opportunity for luxury goods.

From 2016 through Q1 2021, Moose Knuckles saw a compound annual growth rate of nearly 50 percent. In the past year, the brand experienced a nearly triple-digit increase in direct-to-consumer sales along with a strong start to its development in China despite the pandemic. The company has offices in Montreal, New York, Milan, London and Shanghai and distribution in the finest luxury retailers including Selfridges, Holt Renfrew, Saks Fifth Avenue, Isetan, Lane Crawford and others across more than 30 countries. Moose Knuckles operates eleven brick-and-mortar stores, including three in China, with plans to open an additional ten stores by the end of 2022. Luis’ involvement and investment underscores his confidence in Moose Knuckles’ continued opportunity for growth into a global leader in the luxury outerwear market.

“We are extremely excited to partner with Victor on our brand’s next chapter,” said Noah Stern and Ayal Twik, Co-CEOs, Moose Knuckles. “He has a proven track record of growing brands globally at an unprecedented rate. We could not be more thrilled to have Victor on board to help fuel and steer our international expansion. We are super proud that we have been able to create one of the fastest growing fashion brands in the world. Bringing on an executive with Victor’s pedigree will help us hit that higher gear.”

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. “I have long been attracted to the opportunity in the fast growing and highly fragmented luxury outerwear space, and Moose Knuckles is uniquely positioned to take a leadership position in this market,” said Luis. “I am extremely excited to support Noah, Ayal and the global Moose Knuckles team as we leverage the strong foundation they have already built to bring our tradition of superior quality, unique design and brand narrative to fans across the world.”

With his investment, Luis joins Moose Knuckles’ lead institutional investor Cathay Capital as an Operating Partner. Cathay Capital is a global investment firm dedicated to helping founders and companies navigate the opportunities of globalization, digital transformation and sustainability. Founded in 2007, the firm manages over $4.2 billion in assets, and has completed over 180 buyout, growth and venture capital investments. Cathay Capital has offices in Paris, New York, Shanghai, Munich, San Francisco, Beijing, Singapore and Shenzhen.

“Victor is a world-class, visionary leader who brings extraordinary luxury experience on a global basis,” said Mark Woods and Andre Puong, Partners of Cathay Capital. “As Cathay Capital and Moose Knuckles’ incredible founders look to significantly scale the company globally, we believe our partnership with Victor will propel Moose Knuckles further as a top modern luxury outerwear player.”

About Moose Knuckles:
Moose Knuckles is one of the world’s leading brands of luxury outerwear, sportswear, and accessories, based in Montreal, Canada. Born from the Tundra, but made for the concrete jungle, Moose Knuckles continues to push the boundaries of design, technique, and skill, all while paying homage to the majestic animal that inspired it all. The brand has become known globally for its relentless commitment to creating technical pieces for adventurers torching a boundless path and for those unafraid and born to standout.
For more information, please visit: www.mooseknucklescanada.com
Follow us on Instagram @mooseknucklescanada

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 $4,2B in assets, has completed over 180 buyouts, growth and venture capital investments with the global reach and local expertise across Paris, London, Munich, New York, Boston, San Francisco, Shanghai, Beijing, Singapore and Shenzhen.
For more information, please visit www.cathaycapital.com