A proposed second-level retail expansion at Vancouver’s Oakridge Centre is no longer progressing as planned, after landlord Ivanhoé Cambridge discovered an underground aquifer beneath the mall site. An expansion is still in the works for Oakridge, though smaller than originally anticipated.

The massive $1.5 billion project would have seen the complex expand to a total of 4.6 million square feet, including several tall residential towers and other uses above an expanded shopping centre. An expansion will still happen, but with 450 fewer residential units and less retail, spanning a total of about 3.5 million square feet. 

The mall’s retail component was originally supposed to grow by approximately 800,000 square feet, including a new second-floor retail level and a new department store anchor at its south end that was rumoured to possibly be a Saks Fifth Avenue or Bloomingdale’s. The second floor retail would have seen the existing 574,000 square foot mall expanded to about 1.365 million square feet, making it British Columbia’s second-largest mall after Metropolis at Metrotown. Ivanhoé Cambridge confirms that a ground-level westward expansion is still planned for Oakridge, though the mall will no longer gain a second retail level. 

Ivanhoé Cambridge says that a recently discovered aquifer beneath the site is to blame, though the company also said that there would be difficulties keeping tenants on board during the planned eight years of construction. Now that plans for a second retail level have been scrapped, retailers will be able to continue to operate on the mall’s ground floor while the scaled-back residential construction progresses above. 

Oakridge Centre is considered to be Vancouver’s most prestigious suburban mall, with freestanding locations for upscale retailers such as Tiffany & Co., Hugo Boss, Max Mara, and Rolex (at Montecristo Jewellers). The centre is anchored by a 182,000 square foot Hudson’s Bay and a 50,000 square foot Safeway grocery store. Target was originally supposed to move in to replace the mall’s former Zellers, though that was cancelled when Target shuttered its Canadian operations last year. 

Oakridge Centre is one of North America’s most productive shopping centres, with sales estimated to be $1,533 per square foot annually. Later this month, we’ll be releasing our newest study ranking Canada’s most productive malls in terms of sales per square foot.

Toronto-based bag and accessories brand VENQUE is seeking to expand its domestic distribution, following a successful launch that has resulted in substantial sales growth. We spoke with co-founder Simon Cui to gain insight into why sales of the brand have taken off, and what makes VENQUE products unique to the marketplace.

Founded in 2011 by brothers Simon and Viktor Cui, VENQUE designs, manufactures and retails high quality bags and luggage. VENQUE’s creations are simple and functional, and prices are reasonable with bags priced under $200 each. The brothers created the brand after finding frustration in locating high-quality, well-priced bags that are also well designed and multi-functional. The brand’s name is a combination of French and English – a nod to Canada’s two official languages, recognizing the exceptional diversity that characterizes this great nation. 

The detail-oriented Cui brothers created their own fabric for VENQUE, called quanta fabric, after being unable to locate materials they felt were appropriate. The new fabric is durable yet gentle and attractive, giving VENQUE bags their unique look and feel. The brothers’ background in fashion and textiles helped them secure a manufacturer to create the line of bags. Real leather detailing is also featured on its bags, which is remarkable considering VENQUE’s modest price point. Consumer feedback has been extremely positive, prompting VENQUE’s founders to expand the brand’s design and colour availability. 

Although its beginnings were modest, VENQUE products are now available at over 200 retailers globally. In Canada, distribution is primarily through Browns Shoes locations. Sales growth is exceptional as consumers discover the brand and as a result, VENQUE is looking to expand its distribution within Canada, as well as globally. Simon Cui revealed that at some point, as the brand expands its offerings and grows its sales, VENQUE could consider opening freestanding Canadian store locations.   

If you are a retailer looking to carry the VENQUE bag and accessory line, feel free to email Simon Cui at: simon@venque.com.