8 Oct

A closer look at Roots Corp ahead of its planned initial public

TORONTO — One of Canada’s best-known clothing retailers, Roots Corp., announced on Wednesday its plans to launch an initial public offering of its shares.Here’s a look at the company known for its leather bags, woolly winter mitts and other outdoor clothes:1973: The year Michael Budman and Don Green founded the clothing company.116: The amount of corporate retail stores in Canada. Roots also has stores in the U.S., Taiwan and China, and ships online purchases to more than 50 countries.$282 million: Roughly the amount of sales the company generated in its 2016 financial year. The company says it plans to grow sales to between $410 million and $450 million in its 2019 financial year.29 per cent: Despite being a Canadian-born company inspired by the ruggedness of Algonquin Park, 29 per cent of the company’s sales come from outside our borders.24: The amount of new Roots stores the company may have by the end of its 2019 financial year. That includes eight- to 10-stores in Canada and 10- to 14-stores in the U.S. The company says it will also expand into new international markets, like Singapore and Malaysia.1998: The year the company first outfitted the Canadian Olympic team. Its fleece hat from that year was a big hit with celebrities and the general public. Roots continued to outfit the Canadian team several more times.181: How many so-called leather artisans work at the Roots leather factory in Toronto. Not including seasonal employees, Roots employs more than 2,200 people, most of who work at its stores. read more