Canada Goose would be the first retailer to go public on a U.S. exchange in more than a year.

(Bloomberg)—Canada Goose Inc. is planning to go public as soon as next month, people with knowledge of the matter said, in an initial public offering that could value the company at about $2 billion.

The Toronto-based retailer, backed by Bain Capital and known for its trademark $900 parkas with coyote fur-lined hoods, is aiming to go public in February or March, said the people, who asked not to be identified because the information is private.

Canada Goose is planning on selling 10-15% of the company to the public in both the U.S. and in its home country, said one of the people, implying an IPO size of $200 million to $300 million.

In 2013, when Bain acquired a majority stake in Canada Goose, the company was valued at about $250 million, the person said. Terms weren’t disclosed at the time.

The last retail company to go public on a U.S. exchange was rugged apparel maker Duluth Holdings Inc., No. 175 in the Internet Retailer 2016 Top 500 Guide, in November 2015, according to data compiled by Bloomberg. Canadian retailer Aritzia Inc. raised C$460 million ($350 million) in September, including an overallotment, the largest Canadian IPO of the year amid a dearth of listings.

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In the past decade, only a dozen apparel or shoe companies have listed shares in the U.S. and Canada combined, the data compiled by Bloomberg show. The biggest such IPO was from yoga-pants maker Lululemon Athletica Inc. (No. 96), which raised $377 million in 2007, including an overallotment.

Representatives of Canada Goose and Bain declined to comment.

NYC store

In recent years, buyers have flocked to the luxury brand, lending cachet to wearers sporting the brand’s trademark circular label. In November, Canada Goose opened a flagship store in New York.

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Canada Goose hasn’t always targeted the luxury winter-weather buyer. The company was founded in a small warehouse in Toronto in 1957 as Metro Sportswear Ltd., specializing in woolen vests, raincoats and snowmobile suits.

The company employs more than 1,000 people worldwide, according to its website. Dani Reiss, the company’s chief executive and grandson of its founder, Sam Tick, retained a minority position in the company at the time of the Bain deal.

Credit Suisse Group AG, Canadian Imperial Bank of Commerce and Goldman Sachs Group Inc. are leading the offering, people familiar with the matter said in November.

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