Plaid Coat Investor “fooling” into investing $300 million in Mac’s Winter Coat was “unrealistic” and the “biggest investment ever made by a Canadian company”, according to an anonymous insider.
The insider told the New York Times that Plaid’s new investment “couldn’t have come at a better time” as the company is expected to begin selling its new coat in 2018.
The source told the Times that “when Plaid bought Macys, it was the first time that a Canadian brand had gone public in the United States.”
The insider said that the investment “is a great opportunity for Plaid to build an international brand that will continue to attract people from around the world.”
The investment comes after Plaid invested $300M in the Macys winter coat, a brand which is being sold for $2,500.
The investment is the largest investment in Macs history and Plaid is hoping to grow the business in the US.
The New York Post reports that Plinkys shares fell 2.8% after the investment.
Macys shares rose 2.9% after Plinkies share dropped.