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The number of Chinese with more than US$1 million in assets hit 1.6 million in 2016, according to a 2017 report from Bain Consulting and China Merchants Bank, and the wealthy have been known to travel far afield for tony shopping trips.

Bain noted that 8 per cent of luxury goods worldwide are bought within China, but Chinese shoppers also make about three-quarters of their luxury purchases overseas. That trend could be shifting: luxury spending spiked in the latter half of 2016 and had robust growth of 20 per cent last year, and recent government policies have persuaded more Chinese consumers to spend money at home.

George Minakakis, principal at Toronto-based retail consulting firm Inception Retail Group Inc., said Chinese consumers prefer shopping at standalone stores for luxury goods such as Versace or Prada to ensure they are getting genuine merchandise as opposed to counterfeit goods.

“You are painting an image for a brand, and the details are important,” said Minakakis. “But it is a very difficult market to expand in and real estate is a challenge …it is smart for Canada Goose to take a conservative approach when it comes to opening flagship stores.”

Charles de Brabant, executive director at McGill University’s Bensadoun School of Retailing, said Canada Goose achieved awareness in China initially due to widespread counterfeiting. The sought-after coats “were copied early on,” he recalled. “That can be stamped out, but up to that point it functions as a great advertising platform.” De Brabant said the most successful foreign brands in China have opened physical retail stores. “Generally the ones that have been successful have had control over their distribution there.”

Reiss says Canada Goose remains on track to open up to 20 retail stores globally by 2020.

“What’s important to us is that we don’t open too many stores,” he said. “It’s important to us that they are all strategic, that they are all in the right place, and they are all well positioned to be profitable.”

• Email: hshaw@nationalpost.com | Twitter: HollieKShaw