RH, aka Restoration Hardware, is preparing to open one of its largest locations globally at Toronto’s Yorkdale Shopping Centre. The four-level, 70,000 square foot store will open to the public on Friday, October 20 at 11:00am.
It’s the latest ‘RH Gallery’ to open for the chain — several American cities already feature the large-format, multi-level concept. Each location is architecturally stunning, and Yorkdale will no doubt live up to that standard. It’s being described as having “artistic installations of furnishings and décor in a gallery setting” with entire floors dedicated to RH Interiors, RH Modern and RH Outdoor — initially designed by Backen, Gillam & Kroeger, with Toronto-based architectural firm Quadrangle having completed the drawings, coordinated final design details, obtained city approvals, oversaw construction and ensured that the RH brand goals and design concept was faithfully executed in the final building.
The “grand-scale, classical contemporary structure” will be “filled with fresh air and natural light” with architectural and design details that will include lush garden terraces, decomposed granite courtyards, and a grand double floating staircase with a massive skylight and spectacular installation of 23 Helix crystal chandeliers suspended 62 feet overhead. A Rooftop Park & Conservatory with mature Himalayan birch trees will feature intimate vignettes showcasing the latest RH Outdoor collections, with views of the Toronto skyline.
Yorkdale’s RH will also include an interactive Design Atelier, offering the services of professional interior designers in a studio environment — not to mention a Ben Soleimani Rug Showroom as well as specialized galleries for window treatments, bed and bath linens and bath hardware.
The Yorkdale flagship will be only the second globally to feature a restaurant component in partnership with celebrated restaurateur Brendan Sodikoff, which will include a courtyard café that will offer a seasonal, ingredient-driven menu set within sheltered gardens with towering heritage olive trees, trickling fountains and glimmering chandeliers. In addition, a pantry will serve craft espresso, a curated selection of artisanal wines and craft beers, and fresh house-made doughnuts and pastries from Sodikoff’s famed Doughnut Vault in Chicago.
RH anchors Yorkdale’s newest expansion wing that extends westward towards Dufferin Street. Other confirmed tenants in the new wing include Sporting Life (also opening next month).
We’ll follow up this article with photos of the new space when it opens next month.
Canadian university-focused annual retail industry event, Retail Week, has expanded to involve three well-known universities, with a goal to promote retail education and retail careers. This year’s Retail Week takes place between Monday, October 2 and Friday, October 6, and it’s seeking sponsors to help make it grow this year, as well for years to come.
The collaboration includes a number of events, with the www.RetailWeek.ca website providing a schedule of activities at all three schools for the week.
In Edmonton at the University of Alberta School of Retailing, activities will include the following: -A student-focused event discussing how to build a consulting company (Monday, October 2), -A student-focused event discussing how to start a clothing brand (Tuesday, October 3), -A career fair in the School of Business Atrium, and an executive round table dinner (Wednesday, October 4) with a networking event after a morning board meeting on Thursday, October 5, and -A tour of several major shopping centres, courtesy of Retail Insider’s Editor-in-Chief Craig Patterson, who will be in Edmonton for part of the week.
As well, Goodwill will be operating a unique pop-up at the School of Retailing offices at 9007 HUB Mall on October 2 and October 3 from 10:00 am to 4:00 pm.
In Toronto at the Ted Rogers School of Retail Management at Ryerson University, activities will include: -Educational lectures (including discussions about retail real estate, and retail website coding, as well as a CREA Charrette inter-school competition) on Monday, October 2, -A presentation by Amazon Canada for students, as well as a CREA Charette on Tuesday, October 2, -Lectures on storytelling skills for interviews (by Ivan Wanis Ruiz), ethical leadership for retailers as well as speed networking with retail employers on Wednesday, October 4, -Lectures re: health and wellness (Greenhouse Juice Co. and Well.ca), a discussion of TJX Canada’s off-price buying model and field trip to its head office, and a RRAA Alumni Association panel night on Thursday, October 5, and -A lecture on how to connect with Gen Z on Instagram by the digital team at Adidas Canada.
And in Halifax at the David Sobey Centre for Retail Innovation at Saint Mary’s University, events and activities will include: -A Human Resources panel (lectures from retail executives from several leading companies about skills needed, emerging opportunities and career paths) on Monday, October 2, -Retail Innovation Awards on Thursday October 5, recognizing three retailers for their uniqueness, innovation and impact (5:30-8:30pm at the Loyola Conference Hall, see below), and -Retail Tours on Friday, October 6, at the Halifax Shopping Centre, where students will meet with retailers and mall executives in the morning and in the afternoon, students will get an exposure to logistics and supply chain at the Port of Halifax.
The Retail Innovation awards on October 5 in Halifax are being presented to three companies in recognition of their retail leadership and innovation, with the award winners including: -Regina-based jewellery company Hillberg & Berk (whose pieces have adorned the Queen) which empowers women “one sparkle at a time”, -Upscale craft retailer Brika in Toronto, whose community of more than 400 makers has seen the company move from online to three stores, and -Retailer The Uncommon Group, which comprises retail stores that celebrate Nova Scotian products and history, led by the business leader who walked away from Wall Street to remind Halifax to love local.
Retail Week is seeking sponsors — funds will help students learn more about retail, events, marketing and more, and sponsoring companies are publicly recognized as being valued contributors. For more information, contact Emily Deveaux, Executive Director at the University of Alberta School of Retailing, at: salsbury@ualberta.ca.
Eleventy at Yorkville Village, August 2022 (Image: Craig Patterson)
Italian luxury brand Eleventy has opened its first store in North America at Toronto’s Yorkville Village. The 2,200 square foot space is operated in partnership with local retailer TNT The New Trend. It’s the first location in North America to feature Eleventy’s full line of men’s and women’s fashions, in a retail space that was designed by Parisotto + Formenton.
“Since the launch of Eleventy North America, Toronto has been our top performing market. This is an exciting opportunity to offer the full line to the city that has shown its appreciation for Eleventy from the very beginning,” said Geoff Schneiderman, President of Eleventy North America. “The partnership with TNT to open our first freestanding boutique is a very natural marriage between the brands,” added Mr. Schneiderman.
Canada represents an impressive 35% of Eleventy’s North American business, with much of those sales coming out of Toronto.
Eleventy at Yorkville Village (Map)Eleventy at Yorkville Village (Women’s Fashions)Eleventy at Yorkville Village (Men’s Fashions)Eleventy at Yorkville Village
Eleventy was founded in 2007 by Marco Baldassari and Paolo Zuntini, and it’s particularly known for its upscale casual fashion design with a soft sartorial style. In an interview, Mr. Baldassari explained that he was a big fan of Toronto, referring to it as being “vibrant” and “cosmopolitan”. He also said that the country could see more Eleventy partner boutiques similar to that with TNT The New Trend in Toronto.
Eleventy has a network of 20 mono-brand boutiques in Europe and Asia, and is sold in over 500 speciality and department stores worldwide. The line is relatively new to North America — Eleventy USA launched in 2016, and it’s carried in upscale retailers such as Holt Renfrew, Nordstrom, Hudson’s Bay and Saks Fifth Avenue.
Mr. Schneiderman explained how the brand’s quality is on par with some of the world’s top luxury brands, but at prices that are 1/3 to 1/2 that of pricier competitors. Eleventy strives to provide “the best possible quality at the best possible price,” he said. Collections are made in Italy, including fashions, footwear and accessories.
Eleventy at Yorkville VillageEleventy at Yorkville VillageLEFT-TO-RIGHT: MARCO BALDASSARI, AIDEN ASSARAF, GEOFF SCHNEIDERMAN ARIE ASSARAF, AND EARL ROTMAN.
On the evening of September 18, Eleventy held an opening party with notable guests that included Toronto Blue Jays star pitcher Marcus Stroman, Eleventy’s CEO and Co-Founder of Eleventy Marco Baldassari, President of Eleventy North America Geoff Schneiderman and Chairman of Eleventy North America Earl Rotman.
Toronto’s Yorkville Village is nearing the completion of a substantial multi-million dollar overhaul that includes new interiors, new retailers, and a variety of services catering to affluent shoppers in the area. We’ll be profiling several of them in the coming weeks as construction is completed on what is shaping up to become one of the most unique shopping centres in Canada.
(A PEEK AT ‘TNT CONCEPT’, OPENING SOON ADJACENT TO ELEVENTY. PHOTO: CRAIG PATTERSON)
By Linda Farha, Founder and Chief Connector, pop-up go
With humble beginnings as an unconventional marketing tactic, the pop-up trend has quickly grown into a legitimate and successful business strategy for both brands and landlords.
As a short-term commitment, pop-ups provide the flexibility needed for brand development and experimentation on both sides of the industry.
For landlords, pop-ups present an opportunity to test diverse tenants, increase the visibility of their space and generate short-term revenue. Hosting a successful pop-up allows landlords to demonstrate the value of their property to potential long-term retail tenants.
For retailers, pop-ups are an effective way to build consumer relationships and test new markets before committing to a permanent location. These activations are no longer simply geared towards point-of-sales goals, they are intended to provide an unforgettable experience, and a forum to interact with consumers in an unconventional way. According to EventTrack, the largest experiential research report, 98 per cent of consumers feel more inclined to purchase after attending an experiential activation.
The Wonderbra pop-up boutique in Montréal last week, and in Toronto on Saturday, September 23 (25 Charlotte Street), offered visitors complimentary hair products, gift bags and expert help with on-site bra fittings. A strategic choice considering 80 per cent of people who attend an experiential activation said live demonstrations and free samples play a significant part in defining their purchasing decision. By cultivating an interactive and personal service not typically available to consumers, Wonderbra is adding a new dimension to their brand.
Against the backdrop of a competitive advertising landscape, marketers are turning to pop-ups to generate organic word-of-mouth promotion, through press coverage and the power of social media. A staggering 77 per cent of marketers are using experiential marketing as a vital part of their brand’s advertising strategy.
While pop-ups continue to play an important role in building brand value, they are also reviving ‘brick and mortar’ in a world where ecommerce is hitting its stride.
Originally an ecommerce brand, Gwyneth Paltrow’s Goop tested multiple markets with a pop-up shop inside select Nordstrom locations across North America. This fall, the lifestyle brand opened Goop Lab, its first permanent retail space in Los Angeles. From ecommerce to brick and mortar, Goop’s pop-ups provided valuable insight for large-scale business decisions.
As 2018 is predicted to be the year of the pop-up, landlords can expect to have more requests for short-term tenancy, providing new ways to boost the exposure of their spaces. Retailers will continue to capitalize on this trend and are finding new and innovative ways to leverage the relationship building potential of pop-ups.
Linda Farha is the Founder and Chief Connector of pop-up go, a trusted online space connector for landlords and space seekers across North America. The platform allows users to list and discover spaces making it easy to find the perfect tenant to fill your space or location to host your pop-up.
With the partnership, Cadillac Fairview, one of the largest owners, operators and developers of best-in-class retail, office and mixed-use properties in North America, has been named as the Official Home of Team Canada.
As part of the agreement, the Olympic Committee will now be headquartered at CF’s 250 Yonge Street office tower, part of CF Toronto Eaton Centre‘s office portfolio. The Committee will make its home on the 30th floor post Olympic Winter Games PyeongChang 2018.
ACROBATICS AT THE ANNOUNCEMENT THIS WEEK AT CF TORONTO EATON CENTRE. (PHOTO: BETTINA BOGAR)
Jason Anderson, senior vice-president of marketing for Cadillac Fairview, says this is the first time that a company in the commercial real estate industry has done a deal like this.
“This is completely consistent with our strategy over a period of years which is to focus on the best shopping centres and office buildings in Canada and make sure they stay that way through regular investment. We spent over $4 billion in the last four years to do that,” says Anderson.
“But there’s also a recognition that we need to bring those buildings to life with vibrant, meaningful experiences. And that stands for both our shopping centres and our office buildings. What we saw here was the opportunity to recognize that great experiences can often be made better with great partners.”
He says Cadillac Fairview and Canadian Olympic Committee teams are now working together to identify ways and experiences to light up and spread the Olympic experience in shopping centres and office buildings.
“The fact this hasn’t been done in our industry before actually made it much more appealing to us as we think about how to differentiate versus our competitors and we saw being the Home of Team Canada as a great way to do just that,” says Anderson.
“What we really recognize is that at the end of the day consumers have choice. Those choices aren’t going to hurt all malls but they will hurt the ones that don’t keep up with the pace of change. And that’s what we really see a commitment to vibrant, exciting experiences is really about. It’s about staying relevant and exciting and vibrant in the eyes of our shoppers and continuing our success despite the great pace of change in our industry.”
The Canadian Olympic Committee currently is in another location in downtown Toronto as well as a location in downtown Montreal. The Toronto office move to its new location is planned by July 1, 2018.
LOBBY AT 250 YONGE STREET. (PHOTO: CADILLAC FAIRVIEW)
Chris Overholt, CEO of the Canadian Olympic Committee, says Team Canada now has an official home where Olympians, fans and partners can come together to promote the values of the Olympic Movement. He says Cadillac Fairview is one of the Committee’s blue-chip partners.
“We worked over a couple of years to identify the right partner and the right circumstance for us and it became very clear as we got into it that Cadillac Fairview was going to be the partner we were looking for,” says Overholt. “It became very clear to both of us that there was a real opportunity here to create something special.”
Overholt says its new Toronto office is arguably the pre-eminent business building in the city if not the country.
“The opportunity more for our athletes and Canadians is the intersect of experience that all of Cadillac Fairview’s retail properties will provide. We talk a lot about the importance of our brand and central to our brand of course is our athletes. They are the living, breathing expression of the Canadian Olympic team,” says Overholt.
AT CF TORONTO EATON CENTRE. (PHOTO: BETTINA BOGAR)
“So we’ll be working closely with Jason (Anderson) and his team to create experiences and opportunities for our athletes to meet and engage with Canadians. That’s just going to bring the whole thing to life in a way that we had never frankly imagined . . . We have a real experience here to connect our athletes with Canadians that we’re very excited about coast to coast to coast.”
John Sullivan, President and CEO of Cadillac Fairview, says the company has a long history of transforming and supporting the communities it operates in, developing meaningful relationships that extend beyond bricks and mortar.
“We believe in the power of great teams and following months of planning, we are excited to officially join forces with the COC and look forward to building a program that will bring the Olympic spirit and sense of optimism to Canadians and visitors coast-to-coast in the communities we serve,” he says.
The Cadillac Fairview portfolio, owned by the Ontario Teachers’ Pension Plan, includes investments in retail, mixed-use and industrial real estate in Brazil, Colombia and Mexico. It is valued at more than $28 billion. The Canadian portfolio includes over 38 million square feet of leasable space at 67 properties in Canada.
On the evening of Wednesday, September 20, Canada Post awarded eight retailers in its 2017 Canada Post E-commerce Innovation Awards. Winners included emerging companies as well as major retailers, who took home more than $1 million in prizes.
The winners were recognized for their excellence in e-commerce, omni-channel innovation, customer engagement, and social impact on communities. The sold-out sixth-annual awards took place in Toronto on the evening of September 20.
Winners were selected from a field of 32 finalists and chosen by a panel of judges who are thought leaders in the e-commerce industry. The winners will share a total prize package of more than $1 million from Canada Post, including shipping services, customized direct marketing packages with data solutions, and other marketing exposure. Since the Awards were launched in 2012, Canada Post has awarded more than $6 million in prizes to 37 different companies.
“Canada Post is proud to be an e-commerce leader and partner for Canadian retailers. The E-commerce Innovation Awards celebrate leading and emerging online retailers in Canada. The winners represent the very best of e-commerce and are delivering a superior online shopping experience for consumers,” says Deepak Chopra, President and CEO of Canada Post. “These awards have proven to be the catalyst in the retail industry driving real change in shifting behaviours towards embracing e-commerce.”
The Canada Post E-commerce Innovator’s Award goes to an e-commerce company that has made a significant contribution to advancing e-commerce in Canada, as chosen by Canada Post.
*Top photo: Edmonton-based footwear brand Poppy Barley wins Best Marketing & Brand Engagement Award. Photo: Canada Post, via Twitter.
National sporting goods retailer Sport Chek has embarked on a plan to convert several of its stores to its Hero concept which is just a step down from being a flagship store.
Kris Maslanyk, vice-president of store operations for FGL Sports which runs the Sport Chek brand under the Canadian Tire umbrella, says the Hero concept takes many elements from a flagship store.
“It’s scaled down a little bit from the digital element and square footage wouldn’t be as big as some of the flagships. Flagships tend to get to about 80,000 square feet. Hero you’re looking at kind of 50,000 to 65,000 square foot range,” he says.
There are 195 Sport Chek locations across the country in about two million square feet of space. The company has built six flagship stores in Canada with no plans right now to do any more.
(ROBSON STREET FLAGSHIP IN VANCOUVER)
(CF SHERWAY GARDENS STORE IN TORONTO)
“We do have plans . . . We are doing a few Hero locations. CF Market Mall being one (Calgary). Park Royal in B.C. being another. Upper Canada Mall in Newmarket we’ll be doing next year . . . Those are the ones on the books now. Always we look to renovate our fleet stores, our existing fleet stores, to kind of bring them up to standard across Canada,” says Maslanyk.
He says the company has 16 stores that are part of its flagship family of stores. Six of those stores are large format flagships, and 10 of those stores are slightly smaller in size.
Recently, Canadian Tire announced its second quarter results for the period ended July 1. Same store sales at Sport Chek were up 1.1 per cent.
(CF CHINOOK CENTRE WOMEN’S STORE)
(CF CHINOOK CENTRE WOMEN’S STORE)
In Calgary, the expansion of the existing CF Market Mall store is taking place where a two-level, 25,000-square-foot building is being added to the back of the current store. The location will include the following flagship design and digital elements: a portal entrance, which is unique to its large format flagship stores; TV cash walls; digital screens on ends of various walls; RFID in footwear wall; translucent feature footwear walls; Nike/Adidas/Under Armour vendor shops; digital fitting room tablets; and New Balance Stride ID Lab.
“It’s a great addition to CF Market Mall because as a destination store it will be a significant traffic driver which will likely result in increased sales across the mall,” says Darren Milne, general manager of the shopping centre. “As part of the Sport Chek expansion, we’ve also needed to add more parking and we’ve done that by expanding the underground parkade. As a result of the Sport Chek expansion we’ll now have 725 covered/heated parking stalls for our shoppers to enjoy throughout the year, and especially as we move into winter.”
A similar renovation took place as well at the Sport Chek store in CrossIron Mills just outside Calgary city limits in Rocky View County.
(CF SHERWAY GARDENS STORE IN TORONTO)
“We are so thrilled that Sport Chek continually reinvests in their stores. They are a phenomenal retailer who strives to engage their customer in an experiential shopping environment. And this renovation demonstrates that commitment to their store at CrossIron Mills,” says James Moller, general manager of the shopping centre.
Maslanyk says the company is always looking for real estate opportunities but its primary focus is on its existing market and how it can continue to enhance those stores.
“There’s always opportunities or gaps in the marketplace where we can take advantage of getting some new real estate. We just opened a new store in Ottawa at the CF Rideau Centre,” he says. “We did the East Hills in Calgary which is going to be a growing market just outside of Calgary.”
Upscale Quebec City-based footwear retailer Jean-Paul Fortin has opened its first location outside of the province of Quebec, at Toronto’s updated Yorkville Village. The new store features an updated architectural style, as well as the first to include retailer’s new stylized logo.
The Toronto opening kicks off a national retail expansion that will see the retailer open stores across the country. In a recent interview, Jean-Paul Fortin’s President, Francois Monat, revealed plans to eventually open in markets such as Vancouver and Calgary, after initially entering the Ontario market. Jeff Berkowitz of Aurora Realty Consultants is the broker responsible for the expansion.
The 2,400 square foot Yorkville Village Jean-Paul Fortin features bright lights, clear sight lines, and ample windows displaying product to passers-by. Jean-Paul Fortin worked in partnership with design firm GH+A design, and Mr. Monat praised their work. The store features marble and gold accents, giving the store a luxe look that fits in with the area. An exceptional selection of in-store brands include Stuart Weitzman, Aquatalia, Magnanni, Kate Spade, Peter Kaiser, AGL, Brunate, DVF, Ted Baker, Vince and the more upscale Michael Kors collection, among others — with collections for both women and men. Mr. Monat revealed that Bally will be the next big brand to be carried at Jean-Paul Fortin.
The Yorkville store is also the first in the company to feature Jean-Paul Fortin’s new stylized logo, which was also recently introduced to the company’s website. Mr. Monat said that the retailers’s other stores will soon get new signage as well.
The company will also be opening more stores — Ontario will be the initial focus for the next couple of years, prior to expanding westward. The Vancouver market is a target for at least one store, and Calgary could see a Jean-Paul Fortin location as well. Mr. Monat noted that the Greater Toronto Area could easily support multiple locations, given its size.
The Yorkville Village Jean-Paul Fortin flagship is located across the hall from the centre’s newly-opened Belstaff store, which is only the second standalone location for the brand in North America. North America’s first freestanding location for Italian luxury brand Eleventy also just opened in partnership with TNT The New Trend, which is also expanding its presence in the centre. The Chase Group’s new restaurant concept Palm Lane will open this Friday directly in front of Jean-Paul Fortin, and restaurant patrons will be able to see directly into the attractive new Jean-Paul Fortin retail space.
Founded in 1964 in Quebec City, the Jean-Paul Fortin name is a combination of its founder’s name (Paul Fortin), and the street on where its first store was located (St-Jean Street in Quebec City). The company currently has 12 locations, including eight Jean-Paul Fortin stores, three Les Pieds sur Terre (comfort-focused fashionable footwear) locations, and one Le Placard store. Of these, six are in the metro Quebec City area, five are in/near Montreal, and one is in Toronto. Jean-Paul Fortin also operates the footwear concession at the upscale Ogilvy department store in downtown Montreal.
*All photos were provided by Ben Rahn/A-Frame Inc.
Cuisinart has launched its first shop-in-store concept in Canada at Hudson’s Bay‘s Queen Street/CF Toronto Eaton Centre flagship in downtown Toronto. The new space is located on the flagship’s award-winning seventh floor, which is dedicated primarily to housewares.
The shop-in-store is the first of several planned dedicated retail spaces for the brand, in partnership with Hudson’s Bay. Cuisinart occupies a centralized space on the floor in close proximity to the wedding registry and the in-store Kleinfeld Bridal boutique. Cuisinart’s presence will further enhance the flagship’s housewares floor, which won the International Housewares Association’s prestigious Global Innovation Award in 2015.
HBC and Cuisinart confirmed to us that the addition of the shop-in-store is similar to that in other top-performing department stores around the world. The Cuisinart shop-in-store will be the first to use this template as a best practice. Its prominent physical location near the wedding registry will certainly keep the brand top of mind for discerning betrothed couples.
CUISINART’S FIRST HUDSON’S BAY SHOP-IN-STOREAWARD-WINNING 7TH FLOOR AT HUDSON’S BAY, QUEEN STREETAWARD-WINNING 7TH FLOOR AT HUDSON’S BAY, QUEEN STREET
The dedicated shopping space debuted with a media event featuring esteemed chef Jonathan Collins and family in a demonstration of the brand’s new Precision Master Stand Mixer. The demonstration featured the ease with which the product kneads dough effortlessly and with minimal manual effort, and how its functionality is designed to be used with other Cuisinart attachments such as their pasta maker, for a completely versatile product.
Cuisinart’s shop-in-store is the first in a national rollout for the brand’s partnership with Hudson’s Bay. In 2018, similar concepts are planned in the downtown flagship locations of Hudson’s Bay in Vancouver, followed by Montreal, and thereafter into selected Hudson’s Bay stores to be announced at a future date.
The Vancouver region is experiencing a rapidly expanding retail market, driven in part by strong population growth, with continued success forecast for the future.
A report by Statistics Canada says retail stores in the Vancouver census metropolitan (‘CMA’) area increased their sales from $22.2 billion in 2004 to $36 billion in 2016, a rise of 62 per cent.
During the same period, the Vancouver CMA’s population grew from 2.1 million inhabitants to 2.6 million inhabitants, a rise of 19.4 per cent.
“Moreover, population projections suggest that the Vancouver CMA could see a further 26.4 per cent increase in its population in the next 20 years, which will likely increase the need for planning the location of future shopping centre developments,” says the StatsCan report.
NORDSTROM’S CF PACIFIC CENTRE STORE IS NOW THE CHAIN’S TOP-SELLING, OUTPACING ITS FLAGSHIP SEATTLE AND CHICAGO STORES. (PHOTO: CADILLAC FAIRVIEW)
Robson Street (Image: ROBSONSTREET.CA)
In Vancouver, there were 209 shopping centres in 2016. The predominant type was the neighbourhood centre, which accounted for 38.3 per cent of shopping centres in Vancouver, says the report.
“While super-regional malls are typically the largest type of shopping centre in terms of gross leasable area, few major metropolitan areas can support more than a handful, and Vancouver is no exception, with 4 super-regional malls.
An additional factor why most large metropolitan areas have few super-regional malls is that with a large portion of population growth occurring in suburbs, shopping centre developers have focused on the development of other shopping centre types like power centres, which are open-air centres between 200,000 to 1,000,000 square feet. A power centre can be comprised of several anchors, which are mainly medium- and large-scale retailers (e.g. big-box stores) that may be freestanding or connected,” says the report.
UNIQLO OPENS ITS 1ST VANCOUVER STORE AT METROPOLIS AT METROTOWN ON OCTOBER 6. MUJI OPENED IN THE SAME MALL EARLIER THIS MONTH. (RENDERING: UNIQLO)
CONSTRUCTION SIGNAGE FOR IWC AND VAN CLEEF & ARPELS ON ALBERNI STREET. (PHOTO: LEE RIVETT)
According to StatsCan, there were 9429 retail stores operating in the Vancouver CMA in 2016. Of these, 23 per cent or 2,173 retailers were located in one of the seven shopping centre types – super-regional, regional, community, power, retail mixed-use, retail hybrid, or lifestyle. The remaining 77 per cent of retailers were either operating stand-alone stores or located in the two other shopping centre types – neighbourhood centres and convenience centres.
At the retail sector level, retailers located in a shopping centre accounted for 23.1 per cent of the Vancouver CMA’s retail store sales in 2016.
Retailers located in shopping centres accounted for almost a quarter of the retail store sales in the Vancouver CMA in 2016.
SHAPE PROPERTIES IS DEVELOPING ITS ‘AMAZING BRENTWOOD’ PROPERTY IN PARTNERSHIP WITH L CATTERTON GROUP, A REAL ESTATE ARM ASSOCIATED WITH LVMH)
Susan Nicol, general manager of the Oakridge Centre and Office Towers in Vancouver, says the retail market has been very strong in the city since she came to the city in 2014.
“There’s a growing demand for that,” she says. “We’ve been very lucky in Oakridge because I think there’s a major growth in luxury and I think that’s the difference between Vancouver and some other cities . . . We’ve certainly seen a boom in luxury . . . We define lifestyle through fashion, art, design and culture. And we create vision for luxury lifestyle in Vancouver . . . We’ve been lucky enough to benefit from that.”
The Oakridge shopping centre is 600,000 square feet with about 120 stores. At the end of June, the shopping centre sales were $1,579 per square foot. It has benefited from the explosive retail growth in Vancouver over the years.
(LA MAISON VALMONT OPENED ITS 4TH LOCATION IN THE WORLD AT OAKRIDGE IN THE SPRING. PHOTO: VALMONT)
“Generally we’re seeing consistent growth. We’ve seen large growth and now we’re just looking for that consistency here,” says Nicol.
On the shopping centre website, it states: “The redevelopment of Oakridge is a joint venture between QuadReal and Westbank, two of Canada’s leading real estate enterprises.”
But Nicol says no information is available right now about that because plans are still being worked on. In the next few months, ideas and plans will be put forward.
One of the main new tenancies at Oakridge is La Maison Valmont, which is a Swiss spa experience and skin care.
“It’s a very, very beautiful salon. This is the first location in North America. So the next location will probably be Los Angeles and then Las Vegas. Vancouver has the demographics akin to where they want to be,” says Nicol. “They’ve opened in Tokyo and Hong Kong and they have a clinic in Switzerland. It’s a very beautiful brand and that’s where our differential comes in. We’re doing that. It’s very unique.”
(‘HIGH TEA’ EVENT AT OAKRIDGE. PHOTO: SUPPLIED)
Oakridge also opened Marc Cain, a premium brand for women’s fashion.
Even existing retailers such as Hugo Boss and Harry Rosen are re-imaging the shopping experience within their own stores.
“All within the last three to four months all these things have happened that have created a really unique point of difference for us,” says Nicol.
The experience at the mall is evolving too. Last weekend, it hosted a supercar weekend. There have been fashion shows on the weekend that highlight products sold by retailers.
Oakridge Centre in partnership with Chali-Rosso Art Gallery is also presenting Definitely Dali – a stunning collection of original Salvador Dali masterpieces from September 13 to October 1.
Oakridge also has an Inner Circle club which hosts a series of luxury and lifestyle events for the premier-class shopper.
