Souring relations between Ottawa and Beijing could affect Canadian companies in China, potentially tarnishing the appeal of Canadian brands for some Chinese consumers, experts said on Tuesday.
Companies like Canada Goose, Roots, Lululemon and Tim Hortons have expanded in China in recent years, leaning into Canada's reputation as a source of quality goods and often featuring the red maple leaf in store and product branding.
But a diplomatic spat between Ottawa and Beijing could spur a “soft boycott” of Canadian brands in China, Winder said. China's Foreign Ministry said in a statement posted to its English website that China was deploying a “reciprocal countermeasure to Canada's unscrupulous move,” which it said it “strongly condemns and firmly opposes.”
The bilateral non-profit business council, which has seven offices in Canada and China, encourages both governments to resolve their differences “and where there are irreconcilable differences, understand the other side's perspective,” Kutulakos said. Tims China chairman Peter Yu said in February that the coffee and doughnut chain had 600 locations in China, with plans to grow to a thousand by the end of 2023.
The company is planning to open up to 35 new stores in international markets this year, with the majority planned for China, Lululemon's chief financial officer Meghan Frank said during the call.
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