1 The demand for expensive, high-end items and premium products is high in the Canadian marketplace. 2 Canada is being recognized as one of the major markets for luxury brands and is predicted to hit CAD 2.9 Billion by the end of 2024. Despite the cost-of-living crisis, the deman...
- 1 The demand for expensive, high-end items and premium products is high in the Canadian marketplace.
- 2 Canada is being recognized as one of the major markets for luxury brands and is predicted to hit CAD 2.9 Billion by the end of 2024.
Despite the cost-of-living crisis, the demand for luxury goods and services in the global marketplace and Canada is no exception. Canada is being recognized as a major market for luxury brands for the short and long term.
If you are searching for the best Luxury goods stocks in the Canadian market, you are in the right place. Here are the top five luxury goods stocks you can invest in for profit.
Gildan Activewear Inc (TSX: GIL)
Gildan Activewear Inc., a leading player in the apparel and footwear industry is all set to boom the Canadian stock market. According to Tradingview analysis and an aggregate view of professional ratings, GIL is a strong buy. GIL stock price at current is CAD 39.12, a decline of 0.66% in the past 24 hours with a market cap of CAD 7.019 Billion. The annual revenue of Gildan Activewear is CAD 4.234 Billion.
Barrick Gold Corporation (TSX: ABX)
Barrick Gold Corporation is a Canadian luxury brand, heavily engaged in the manufacturing of precious metals including gold and copper. Introduced in 1983, the firm generates an annual revenue of around CAD 14.391 Billion with a net income of CAD 562.401 Million. ABX stock price is CAD 22.87, an upsurge of 0.62% with a market cap of CAD 39.902 Billion. ABX is a buy as per professional’s ratings.
Aritzia Inc (TSX: ATZ)
Another powerful name in the list of luxury goods in Canada is Aritzia Inc., a company operating in apparel and footwear retail. The stock is a buy as per the aggregate view of professionals’ ratings and current performance. ATZ’s stock price is CAD 22.49, a decline of 3.97% in 1 day with a market cap of CAD 2.595 Billion and an annual revenue of CAD 2.196 Billion. The company was introduced in 1984 and works with designing luxury apparel and accessories.
Canada Goose Holdings Inc (TSX: GOOS)
Canada Goose Holdings Inc., a leader in apparel and footwear is a well-known name in the list of luxury brands. Founded in 1957, the company is generating an annual revenue of CAD 1.25 Billion with engagement in designing, manufacturing, and distribution of products. GOOS stock price is CAD 16.57, a decline of 0.24% in 1 day with a current market cap of CAD 1.71 Billion.
MTY Food Group (TSX: MTY)
Another powerful stock to look for investment is MTY Food Group, a firm operating in the restaurant industry. MTY stock price at current is CAD 53.17, a drop of 0.80% in the past 1 day and the market cap stands at CAD 1.298 Billion. The annual revenue of the firm is CAD 716.522 Million and the stock is a buy as per an aggregate view of professional ratings.
Conclusion
The luxury market of Canada is all set to rock the stock market soon. Gildan Activewear Inc., MTY Food Group, Aritzia Inc., Canada Goose Holdings Inc., and Barrick Gold Corporation are some top stocks to pick.