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Promenade Shopping Centre Acquisition Concludes

By
Craig Patterson
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The Serruya family and Liberty Development Corporation have completed the purchase of the Promenade Shopping Centre in Thornhill, Ontario, from Cadillac Fairview. The regional mall is now owned by a newly formed entity called Promenade General Partner Inc., and Centrecorp Management Services Ltd. has been retained to manage Promenade Shopping Centre. 

The 900,000 square foot Promenade Shopping Centre, which is anchored by Sears, T&T supermarket, Sport Chek, Old Navy, H&M and Imagine Cinemas, features more than 150 stores including popular brands such as Coach, Aritzia, Lululemon Athletica, Browns Shoes, Roots, Aldo, Urban Planet and Pandora. The mall is situated on a 50 acre site located close to the 407 ETR highway, and the nearby Vaughan Metropolitan Subway Station, which is due for completion in late 2017. The mall opened to the public in August of 1986, with former anchors including Eaton’s and Bretton’s. The area has since grown substantially and now boasts a trade area in excess of one million residents. 

The Promenade is also home to Sears Canada’s latest retail concept, ‘WTS’, featuring a minimalist interior with concrete floors, an amended product selection, and a reduced footprint. The new store concept opened in the mall in the fall of 2016. 

While under Cadillac Fairview’s ownership in 2009, the mall underwent a $45 million upgrade that included the redevelopment of the food court and common areas. The mall’s name was converted to ‘CF Promenade’ as part of Cadillac Fairview’s mall rebranding in September of 2015 — the ‘CF’ is now officially dropped with the mall’s new ownership. 

The Serruya family, which has extensive business and real estate holdings, might be best known as the founders of popular yogurt and smoothie retail concept Yogen Früz. The frozen yogurt and smoothie retailer was founded in 1986 by local teenage brothers Michael, Aaron and Simon Serruya, and the company has now grown to more than 1,400 locations in 46 countries.  

Michael Serruya explained the significance behind the deal. “Promenade is where my brothers and I started our business careers as teenagers with the original Yogen Früz concept over 30 years ago,” he said. In 1986, the three brothers decided to open a location for their new yogurt concept in the mall. George Budahazy, then a senior vice president of leasing at Cadillac Fairview, took a chance and leased the Serruya brothers a 230 square foot retail space. The concept took off and spearheaded the family’s wildly successful business empire, which continues to grow to this day. The brothers maintained a positive relationship with Mr. Budahazy over the years, and Michael Serruya revealed that the family has brought Mr. Budahazy out of retirement by hiring him as a consultant to further improve Promenade’s offerings. 

While some have speculated that Promenade’s acquisition was for residential redevelopment, Michael Serruya explained that the mall will continue to operate as it is. “We are thrilled to now be in a position to invest in this property to ensure it reaches its full potential as a central hub for the Thornhill community. This is an important investment for us, but it also represents a deepening of our commitment to the community we call home,” he said. The Promenade “has more parking than is necessary”, he noted, saying that there’s a possibility that the site could include some residential intensification at some point in the future. The new owners will focus on improving the mall in the meantime, recognizing its commercial potential in a booming suburban community. 

eTail Canada Releases Conference Attendee List

By
Craig Patterson
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The attendee list for the , taking place in Toronto on May 16-18, has just been revealed. The conference will feature high-level networking and extensive thought leadership programs, as well as an impressive speaker faculty from the top retailing brands in Canada and the United States. 

Space is filling up quickly in an event that many consider to be an industry leader in the realm of eCommerce. To purchase tickets to eTail Canada, taking place at downtown Toronto’s Hyatt Regency Hotel, . 

*****

Below is the full list of attendees for this year’s eTail Canada Conference:  

As a lead up to the conference, eTail Canada also recently published an eCommerce benchmark report that received considerable media attention. 

To purchase tickets to eTail Canada, taking place at downtown Toronto’s Hyatt Regency Hotel May 16-18, . 

*Partner content. For more information, contact Craig Patterson at: craig@retail-insider.com

DSW Designer Shoe Warehouse Launches Spring 2017 Canadian Expansion

By
Craig Patterson
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Image: DSW Designer Shoe Warehouse

Popular off-price multi-brand American footwear retailer DSW Designer Shoe Warehouse continues to expand in Canada, after opening its first locations in the Greater Toronto Area in August of 2014. A Winnipeg store will open next month, and more are anticipated in various markets, including its first stores in Quebec. 

DSW Inc.’s Chief Commercial Officer Simon Nankervis explained that the retailer is seeing tremendous success in Canada, and that the retailer’s first store in Manitoba will open on May 3 at the Outlet Collection Winnipeg. That store will be DSW’s 24th in Canada, and a 25th is expected to open later this year in Edmonton — a fourth for Alberta’s capital city. 

Mr. Nankervis said that DSW will look to further expand into major metropolitan areas that could support more locations. The Vancouver/Lower Mainland area currently only has two DSW stores, as does Calgary — markets such as these have room for more locations, provided the ‘right’ real estate opportunities arise. The Ottawa region, with over one million residents, currently has just one DSW Shoes store, while Saskatoon currently has none (Regina’s DSW opened about a year ago, so an eventual Saskatoon location is almost certain). 

The province of Quebec, with over 8-million residents, currently has no DSW locations. Mr. Nankervis noted that the large market represents a substantial percentage of the Canadian population and as such, will be a target for the company as it continues to grow its brick-and-mortar operations. 

Image supplied by Town Shoes Limited

Mr. Nankervis said that there is currently no specific ‘target’ in terms of the number of DSW stores that will eventually operate in Canada. The company’s US operations are profitable and continue to see strong growth from its 500+ stores in 43 states. 

DSW Shoes is also heavily invested online, and often uses stores as pick-up locations for eCommerce purchases. The company will be launching new initiatives to be announced this year not only for its DSW nameplate but also for its Town Shoes, The Shoe Company and Shoe Warehouse banners — DSW acquired a controlling interest in Town Shoes Inc. almost exactly three years ago, and continues to operate all four retail concepts concurrently. 

Moving forward, DSW’s new Canadian stores will typically be in the 15,000 to 20,000 square foot range, carrying thousands of pairs of shoes from a wide range of designers. DSW also carries a variety of accessories and leather goods and the Winnipeg store, for example, will feature a 1,500 square foot space dedicated to women’s handbags in a variety of styles. The Winnipeg store will also feature a ‘DSW Kids’ department — the ninth in Canada, after launching in eight existing DSW stores on March 1 of this year. The DSW Kids collection includes footwear for toddlers through teens, with over 300 styles of boys’ and girls’ footwear ranging from dressy to athletic and boots to sandals. 

RYU Apparel Continues Canadian Expansion with 3 Openings in 2017

By
Craig Patterson
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Vancouver-based multi-discipline performance training and fitness brand RYU Apparel has opened its third store location at West Vancouver’s Park Royal South, and it will open two more Canadian stores this year before launching its U.S. expansion. 

RYU began opening stores in November of 2015, when it launched a flagship at 1745 W. 4 Avenue in Vancouver’s Kitsilano area. A second Vancouver store, measuring 1,100 square feet, opened in November of 2016 at 805 Thurlow Street, just off of Robson Street. 

The 3,967 square foot Park Royal retail space includes RYU’s apparel for men and women, as well as accessories and an extensive assortment of multi-use bags. The store was designed by architect Tony Robins with the same industrial-modern aesthetic look as RYU’s award winning flagship Kitsilano store. Western Canada’s largest retail fabricator, Vancouver-based Peregrine engineered and manufactured store fixtures most of the store’s fixtures. Jeri Brodie of Aurora Realty Consultants represents RYU as broker in Canada. 

Toronto will be the next market for RYU — this summer, the company will open a 2,200 square foot store at 361 Queen Street West. The company’s first enclosed mall store will also open this year at Metropolis at Metrotown, east of Vancouver. 

RYU’s stores are a way to engage consumers and educate them about the brand, according to RYU’s senior vice president of retail and operations, Brett Pawson. Larger stores will have space available for community events, product launches and other social activities that connect the consumer with the brand. Physical spaces are also social spaces, creating connections to consumers, athletes, and the neighbourhoods in which stores are located. 

Mr. Pawson said that the company is in talks to secure retail space in New York City, with a goal of expanding into the United States in 2018. Expansion will be calculated while RYU continues to perfect its concept as well as gain consumer awareness — the company anticipates to open three locations in 2018 and another six-to-eight stores in 2019, with a goal of eventually operating in excess of 100 stores globally by the year 2025. 

Originally founded in Portland, Oregon, RYU or ‘Respect Your Universe’, is an athletic tech-style apparel brand engineered for the fitness, training and performance of the multi-discipline athlete. Marcello Leone, son of the founders of Vancouver-based multi-brand luxury retailer Leone, took the company over in 2014 and spearheaded an overhaul which saw its headquarters moved from the United States to Canada, choosing his hometown of Vancouver to be its new corporate address. RYU’s intention is to become the world’s top multi-discipline performance training and fitness brand, according to Mr. Leone. 

Editor’s Notes: Park Royal Shopping Centre RYU Store Design: Tony Robins. Fixtures engineered and manufactured by Peregrine. 


Breitling to Open 1st Canadian Boutique

By
Craig Patterson
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Independent Swiss watch manufacturer and chronograph specialist Breitling will open its first Canadian boutique in June of this year at Toronto’s Yorkdale Shopping Centre. The company produces some of the world’s most recognizable watches, and is considered to be one of the world’s top watch brands. 

The 500 square foot Toronto boutique will carry Breitling’s full assortment of watches, including Breitling for Bentley. The company is known as being a specialist of technical watches, and has played a crucial role in the development of the wrist chronograph. Family-owned and founded in 1884 in Saint-Imier, Switzerland, Breitling is also one of the rare companies to produce its own mechanical chronograph movements, entirely developed and manufactured in its own workshops. 

The Yorkdale boutique’s interior will feature pop art paintings by renowned American artist Kevin T. Kelly, and it will be decorated with American walnut floors and quadrille wood paneling. Also included will be a VIP seating area. 

The boutique will be operated in partnership with local watch and jewellery retailer European Jewellery. The standalone boutique will be located in the western part of the mall, as per the floor plan shown below. It will have the entrance facing towards another luxury brand, Jaeger LeCoultre, which opened across the hall last year.

“We’re thrilled to have the first Breitling Boutique in Canada located at Yorkdale Shopping Centre,” says Deepak Chopra, Country Manager for Canada. “It is the perfect destination to introduce Canadian consumers to the Breitling universe and to celebrate our iconic brand with our clients.” 

Breitling Boutiques are quite rare — in the United States, there are currently six freestanding Breitling locations. Its first American boutique opened in Manhattan in 2010, where it currently operates units on Madison Avenue as well as at Westfield World Trade Center. Other locations include Las Vegas (Forum Shops at Caesars Palace), Orlando (Mall at Millenia), Miami (Aventura Mall) as well as at Denver’s Cherry Creek Shopping Center. Breitling watches can also be found at various prestigious retailers globally. 


Herschel Supply Co. to Open 5,000 Square Foot Canadian Flagship

By
Craig Patterson
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Popular Vancouver-based accessories brand Herschel Supply Co. will open its first freestanding Canadian store next year. The 5,000 square foot flagship retail space, located in the city’s trendy and historical Gastown area, is expected to also carry the brand’s new men’s and women’s outerwear lines.  

In an article in Business in Vancouver yesterday, Herschel confirmed that its Vancouver flagship would be opening at 347-349 Water Street, on the ground floor of Gastown’s historic Greenshields Building. Herschel will replace the Oriental Rug Bazaar that has occupied the site for years. The new store will open in 2018, according to Herschel co-founder and principal Jamie Cormack. 

Mr. Cormack told Business in Vancouver that Herschel chose Gastown because that’s where the company was founded. Gastown is becoming one of the hippest and most interesting retail areas in the city — notable stores include quirky luxury retailer Secret Location, Vancouver-based John Fluevog shoes, Aussie skin care brand Aesop, and pricey menswear retailer Roden Gray. H&M sister brand COS opened its first Vancouver location on Water Street last month, and eyewear retailer Bailey Nelson will be opening a corporate store this summer. Canada’s first Filson store also opens this month at 47 Water Street. 

Rapidly growing Herschel is in the process of launching an outerwear collection that will be available in June. According to the company, the outerwear line is meant to “help customers on their journeys”, not unlike the brand’s bags. Outerwear offerings will include designs for wind and rain — the ‘Voyage’ assortment, consisting of three men’s styles and two women’s styles created for the wind, will join its ‘Forecast’ collection of two men’s styles and two women’s styles designed for the rain. 

While the Vancouver flagship will be Herschel’s first freestanding store, it’s not the first globally. The brand currently operates 42 stores, all owned by third party distributors, in cities including Singapore, Mexico City and Milan. Store locations in New York City and Los Angeles are also in the pipeline, according to a report in WWD.com. 

Herschel Supply Co. was founded in Vancouver in 2009 by brothers Jamie and Lyndon Cormack, with its name adopted from the town of Herschel, Saskatchewan, where three generations of their family grew up. The company produces and retails accessories ranging from wallets to larger bags, all at reasonable price points. While the brand may appear ‘localized’, Herschel’s bags are mass produced in China, and are carried in over 10,000 points of sale in 72 countries. The company reported growth in excess of 30% last year, with no end in sight. 

Last Call for Participants for Annual Retail Stores Compensation Benchmark Survey

By
Retail Insider
-

This is the last call to participate in the 2017 Korn Ferry Hay Group Retail Stores and Distribution Centre Compensation Survey. Korn Ferry Hay Group is seeking additional participants to benchmark store, corporate and distribution/fulfillment centre roles. Participants are sought from all retail organizations who have operations in Canada.
 
Over the past few years, an increasing number of international retail organizations have moved into the Canadian landscape, and we have experienced growth within our very own Canadian retailers. Consumer trends are moving towards online purchasing and it is growing increasingly important to stay competitive and benchmark these vital roles. As your talent needs evolve, so do compensation strategies and incentives. Korn Ferry Hay Group works directly with Human Resource and Compensation teams in the data collection process ensuring reliable and robust data.
 
Store associates are the largest group of employees in a retail organization, and their compensation costs can dramatically impact your bottom-line. Knowing the market rates and what to pay your hourly and salaried employees are crucial to attracting and retaining the talent you need while managing your organization’s costs. This survey will allow you to benchmark your hourly and salaried positions at a local, provincial and national level.
 
The deadline for participation is fast approaching and we welcome all participants with retail operations. For further information and participation please e-mail the retail account manager, Morgan Frese at morgan.frese@kornferry.com or call 416-815-6353.
 
* Korn Ferry is the preeminent global people and organizational advisory firm. We help leaders, organizations, and societies succeed by releasing the full power and potential of people. Our nearly 7,000 colleagues deliver services through our Executive Search, Hay Group, and Futurestep divisions.

Partner content. To work with Retail Insider, contact Craig Patterson at: craig@retail-insider.com.

ECCO to Open 1st North American ‘Prime’ Flagship Concept Store

By
Craig Patterson
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Danish footwear and accessory brand ECCO will launch its first ‘prime concept’ store in North America this spring, which will be the third of its kind in the world. The company is also confirmed to be opening at least three other Canadian stores, including a replacement location that will become the country’s largest. 

ECCO’s ‘prime concept’ store format features interiors that reference the heritage of the brand, including wall treatments profiling shoe styles and other historical elements. Premium flooring is featured throughout, and a selection of product is featured that is unavailable in most locations. There are currently two ‘prime concept’ ECCO stores in the world — in Berlin and Hamburg, Germany, according to ECCO Canada president Jordan Searle.  

North America’s first ECCO ‘prime concept’ will open in May of this year at Toronto’s Yorkdale Shopping Centre. The 1,550 square foot store will replace Jean Machine in a central area of the mall, as per the floor plan below. The new Yorkdale ECCO will replace an existing location in the mall, which is closer to Nordstrom and across from the recently opened Saint Laurent. 

The new Yorkdale store will also feature a separate leather goods and accessories shop-in-store — the second of its kind in Canada, following the opening of an ECCO accessory store in Vancouver last year. 

ECCO is also in the process of relocating its existing downtown Montreal store at 1329 Ste-Catherine Street West to a larger space within the same building. The new location will measure about 1,700 square feet, according to Mr. Searle, making it the company’s largest unit in Canada when it opens. The new Montreal flagship will also feature a dedicated leather goods and accessory shop-in-store. 

In 2018, as well, ECCO will open two more Canadian stores. An Edmonton store will open at the Premium Outlet Collection at Edmonton International Airport in the spring of 2018, and a location at Quebec City’s Galeries de la Capitale will also open next year. 

ECCO currently has 31 stores in Canada, after the recent opening of a store at West Edmonton Mall. Mr. Searle revealed that the company plans to eventually operate about 45 Canadian stores as it continues to open a handful of locations each year in this country. 

Founded in Denmark in 1963, ECCO is unique in how it manages every aspect of the value chain from tanneries and shoe manufacturing to wholesale and retail activities. ECCO’s products are sold in 88 countries from over 2,000 ECCO shops and more than 14,000 sales points. The company is doing exceptionally well — in 2016, it saw the number of shoes sold increased by 5% over the year prior, with currency-adjusted sales through brick-and-mortar boutiques increase 10%, and online sales growth of 46%. ECCO opened about 100 new concept shops (including partner stores) last year. 

Jimmy Choo to Open Freestanding Vancouver Store

By
Craig Patterson
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UK-based luxury footwear and accessory brand Jimmy Choo will open its first freestanding Vancouver store in early 2018. It is the latest luxury brand to be announced for the city’s burgeoning ‘Luxury Zone’. 

Vancouver’s Jimmy Choo will be located at 1035 Alberni Street and will measure 1,549 square feet on one level. When it opens, it will technically be Canada’s second freestanding Jimmy Choo store, following the August 2014 opening of a 2,250 square foot location at Toronto’s Yorkdale Shopping Centre. We also recently confirmed that Jimmy Choo will be opening a second Toronto store that will span about 2,400 square feet over two levels, though the newly constructed 102 Yorkville Avenue space won’t be ready for occupancy until towards the end of 2018. 

David Wedemire and Stan Vyriotes of DWSV Remax Ultimate Realty Inc. acted on behalf of Jimmy Choo in the Vancouver deal, while Mario Negris and Martin Moriarty of CBRE Vancouver negotiated on behalf of the landlord. 

Jimmy Choo will replace Montreal-based leather goods and fashion retailer m0851, which has operated its Alberni Street location since the spring of 2008. M0851 has already secured a replacement location at CF Pacific Centre, and it also will continue to operate a unit on Water Street in the nearby historical Gastown area.

Vancouver’s ‘Luxury Zone’, centred around the 1000 block of Alberni Street and extending onto Burrard Street and Thurlow Street, is quickly becoming one of Canada’s most important luxury retail areas. Last week we announced that luxury watch brand Hublot will be opening its first Canadian store nearby at 1076 Alberni Street, and more changes are on the way, as new retail space is built and deals for new retailers are secured.  

Jimmy Choo, which was co-founded by designers Tamara Mellon and Jimmy Choo in 1996, has stores globally, including 33 in the United States. In Canada, the brand can also be found in selected retailers such as Holt Renfrew, Saks Fifth Avenue and Nordstrom. 

Cheesecake Factory Announces 1st Canadian Location at Yorkdale

By
Craig Patterson
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Image: Cheesecake Factory

Popular full-service American restaurant chain Cheesecake Factory has announced that it will open its first Canadian location this fall at Toronto’s Yorkdale Shopping Centre. It could be the first of multiple locations for the company in this country. 

The restaurant will span in excess of 10,400 square feet, and will have two covered patios. Interiors will feature imported limestone floors and custom wood columns, hand-painted murals and modern lighting. The restaurant will be located at the north end of the mall as per the floor plan below, to be accessed from the mall’s exterior. It replaces a Milestones restaurant that occupied the site until recently. 

Cheesecake Factory is known for its extensive food offerings, including having a menu with over 50 signature cheesecakes and desserts. Cheesecake factory opened as a bakery in Los Angeles in 1972, and its first restaurant opened in Beverly Hills in 1978. The Company, through its subsidiaries, owns and operates 208 full-service, casual dining restaurants throughout the United States and Puerto Rico, including 194 restaurants under The Cheesecake Factory® banner; 13 restaurants under the Grand Lux Cafe® banner; and one restaurant under the RockSugar Pan Asian Kitchen® banner. As well, the company has 15 international restaurant locations that operate under licensing agreements in the Middle East, Asia and Mexico. 

“For nearly 40 years, The Cheesecake Factory has been known for creating delicious, memorable experiences for tens of thousands of Canadians visiting the U.S.,” said David Overton, Founder, Chairman and Chief Executive Officer of The Cheesecake Factory Incorporated. “We are now delighted to be expanding into Canada and are looking forward to opening in Yorkdale Shopping Centre in the Fall.”

Yorkdale recently ranked as Canada’s most productive shopping centre in Retail Council of Canada’s first annual Shopping Centre Study. The centre, owned and operated by Oxford Properties Group, boasts sales in excess of $1650 per square foot, and is also the highest grossing mall in Canada. In October of 2016 Yorkdale saw the addition of a new 300,000 square foot Nordstrom-anchored wing, and this year another westward expansion will see RH/Restoration Hardware, Sporting Life, and other retailers. The enclosed mall sees more international retailers launch their first Canadian locations there than any centre in the country. 

Yorkdale’s Cheesecake Factory is addressing an interesting shopping centre trend. Over the past several years, leading malls have increasingly been including full-serve restaurants on their premises, at a variety of price points. Yorkdale, itself, is home to full-service restaurant locations for Jamie Oliver’s ‘Jamie’s Italian’ as well as The Pickle Barrel, and a large Joey location. 

Last week, as well, Yorkdale expanded its food offerings temporarily with the opening of its pop-up CONCEPT space, featuring six food vendors that will operate there until the end of April. 

*Photos: Cheesecake Factory

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