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Hermès Achieves Record Sales

Photo: Hermes

French luxury goods manufacturer/retailer Hermès achieved record profits in 2012 with a 22.6% increase over 2011 sales. Asian consumers account for much of the growth including several store openings and renovations. Hermès has five Canadian stores in four Canadian cities.  

Hermès has managed to maintain exclusivity with high prices/no discounts, low supply, and a heritage of craftsmanship/artisanship.

Worldwide revenues of $4.66 billion make Hermès one of the highest grossing luxury goods retailers in the world. Hermès’ Asian sales increased 25% between 2011 and 2012. European growth was at 15% while American growth was 14%.

Hermès may be best known for its bag called the ‘Birkin’, named after acress Jane Birkin in 1984. Prices typically range between $9,000 and $150,000. In 2009 a $220,000 Birkin bag made of red crocodile with a clasp of 18k white gold and diamonds rotated around Canadian Hermès stores, starting with the new Calgary Hermès location which opened inside of Holt Renfrew in October of 2009. It sold in a 2011 Dallas auction for about $203,000.

Hermès has five Canadian locations:

Toronto: 130 Bloor Street West,
Montreal: at Holt Renfrew,
Calgary: at Holt Renfrew, and
Vancouver: 1) 107-755 Burrard Street and 2) Vancouver International Airport

The Toronto (4,000 sq ft)  and Vancouver (2,500 sq ft – Burrard Street) Hermès stores compete for Canada’s highest Hermès sales, according to a sales associate at the Toronto location. 

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Hermès website: www.hermes.com

Holt Renfrew website: www.HoltRenfrew.com

Hudson’s Bay Uses its New Name and Font on Website

Hudson's Bay website screenshot, Thursday February 28th 2013 23:05 PST

Canada’s Hudson’s Bay department store’s website has, as of Thursday February 28th 2013, formally introduced its new name font along with its simplified store name ‘Hudson’s Bay’ (see image screenshot from their website, above). 

Gone are the stylized ‘B’ and the abbreviated store name ‘The Bay’. 

Hudson’s Bay Classic Logo

Former Bay logo including stylized ‘B’

We previously reported that the store formally known as The Hudson’s Bay Company or ‘The Bay’ would be changing its name. We expected a full-on name change late 2012 and it appears to have been delayed until now. 

The company’s most recent furniture flyer also includes the store’s new name/font ‘Hudson’s Bay’. 

‘snyberTO’ of Urban Toronto noticed and pointed out the similar fonts between Hudson’s Bay and Burberry. See below:

Burberry Logo

vs.

‘Hudson’s Bay’ is the main Canadian department store branch of the organization still called ‘The Hudson’s Bay Company‘. The same company also owns American department store chain Lord & Taylor, as well as Canadian home retailer ‘Home Outfitters‘. The company will also operate three Zellers stores (as we previously reported) and owns the Canadian rights to British cheap & chic retailer TopShop/TopMan

Retail Insider will continue to keep you updated on Canadian retail news. Have an excellent weekend, everyone! 

Hudson’s Bay website: 

www.TheBay.com

Burberry website: 

www.burberry.com

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‘White House | Black Market’ Coming to Canada

Photo: White House | Black Market

American womenswear retailer White House | Black Market will open three Canadian stores in 2013. Parent company Chico’s will open more Canadian stores under the Chico’s banner in 2014.  

White House | Black Market is known for its ‘slimming’ clothing (some have been featured on Oprah) and targets the 30-55 year-old female. It plays on variations of staple white-and-black clothing styles. 

Michelle Obama wore this $148 White House | Black Market dress called ‘My Sister’s Dress’ in a 2008 appearance on TV show ‘The View‘. [Image Source] American Presidential Wife Michelle Obama wore a $148 White House Black Market dress in a 2008 interview on the TV Show ‘The View‘. The dress sold out shortly thereafter. 

Photo: White House | Black Market

The Canadian store-opening information was confirmed in a fourth-quarter investor conference call the afternoon of Thursday, February 28th by Chico’s CEO David Dyer. This was immediately reported to Canadian readers via the Financial Post. 

White House | Black Market has about 350 American stores, while Chico’s has almost 1100 American locations.

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White House | Black Market website: 

www.whitehouseblackmarket.com

Chico’s website: 

www.chicos.com

Rolex To Open First Canadian ‘Corporate Store’ in Toronto

Rolex (Photo urbacon)

Rolex will open a ‘free-standing’ store within Toronto’s ‘Rolex Building’ at 50 St. Clair Avenue West. This will be the first corporately-owned Rolex store in Canada, and only the second in North America.

The Rolex Building is located at 50 St. Clair West in Toronto’s mid-town ‘Deer Park‘ neighbourhood. It’s an affluent area located between the even more affluent neighbourhoods of Rosedale and Forest Hill.

According to this website, Toronto’s Rolex Building is 28,000 square feet over five floors. The building is currently being renovated by Urbacon.

Photo: Rolex

Thank you to ‘androiduk’ of Urban Toronto for providing this tip. Information was obtained by the City of Toronto Planning website, with information on the Rolex Building specifically being found here.

Rolex website: www.rolex.com

New North Vancouver Mall Could Break Ground Soon

Construction of a proposed 430,000 square foot, $65 million North Vancouver shopping mall, located on aboriginal lands, could begin as early as next year. 

The mall would include an enclosed element as well as possibly big-box stores. Squamish Nation, property owner, is currently examining putting housing on the site along with the proposed retail. We are awaiting development proposal documents and we will share them with readers when received. 

The proposed shopping centre site is located at the north end of Vancouver’s Second-Narrows/Ironworkers Memorial Bridge. The site sees considerable vehicle traffic and the area population is expected to grow with residential proposals in areas near Capilano University to the north of the site. 

The development would proceed in conjunction with developer Kingswood Capital Corporation, which owns a 50% stake in the development as part of its 99 year sublease of the roughly 30 acre Squamish lands. 

The project was initially proposed in 1999 and was to break ground in 2004. The new proposal would see a modified design and the addition of residential to ‘optimize the site’s use’. 

Art Installation in ‘International Store of the Year’: Simons West Edmonton Mall

La Maison Simons CEO Peter Simons at art installation unveiling.

Canada can be proud that Chain Store Age‘s ‘International Store of the Year’ is, this year, a Canadian retailer. Last week we reported the award went to La Maison Simons, West Edmonton Mall. 

This week we’re posting some photos of the in-store art installation we mentioned last week.

Philip Beesley‘s ‘Simons Aurora’ was unveiled Wednesday, February 20th, to much acclaim. We think it looks great, and we’re posting some of the artwork’s description from Canadian Architect Magazine. 

The photos we are posting are taken from West Edmonton Mall’s Facebook page. 

According to Canadian Architect Magazine, “Simons Aurora is a canopy of crystalline columns that uses sensory mechanisms to respond to human movement, creating a gently swelling and rippling ocean of light”. 

Inspired by the aurora borealis, Simons Aurora is composed of laser-cut acrylic, mylar and custom glassware. Suspended from the ceiling of the store’s north atrium, the installation is 68 feet long, 26 feet wide, and has more than 40 electronically active columns of varying lengths. Philip Beesley’s team used a new generation of electronics that allows a highly complex, intelligent digital fabric to create responsive chain reactions of light.

“We were excited by the idea of working with the Simons family which has a longstanding reputation for creating innovative retail spaces,” said Philip Beesley. “The scale and atmosphere of the Edmonton location allowed us to envision a significant installation that would adapt to and be energized by interactions with customers.”

The installation of Simons Aurora will take eight members of Philip Beesley’s studio and a large team of local artists, designers and students 17 days to complete. The process will be captured on time-lapse video. While Philip Beesley’s works reside in many countries around the world, Simons Aurora is Beesley’s first permanent installation in Canada“.

Peter Simons, CEO of the store, was in attendance for the art installation’s unveiling. From this description in the Edmonton Journal, fun was had by those in attendance. 

We’ll be checking out Edmonton’s La Maison Simons this summer when we visit. We also look forward to seeing some of West Edmonton Mall’s updates we recently reported on.

La Maison Simons website: 

www.simons.ca

West Edmonton Mall website: 

www.wem.ca

TopShop to Open in Renovated Hudson’s Bay Store at Calgary’s Chinook Centre

Photo: TopShop

TopShop/TopMan will open in November at the Hudson’s Bay store in Calgary’s Chinook Centre. This will coincide with a complete renovation of the Hudson’s Bay store. Both are in anticipation of the opening of Nordstrom and Target stores in the same mall.

The 203,000 square foot Hudson’s Bay store will see a top-to-bottom renovation and we have been told that it will be of a similar ‘look’ to the recently renovated Yorkdale Shopping Centre Hudson’s Bay Store. We have yet to get details on the size of the TopShop/TopMan shop-in-store.

Calgary’s Chinook Centre will see two new anchor tenants in the next two years. Target will open a 115,000 square foot store in May, and Nordstrom will open a 140,000 square foot store in the Fall of 2014.

Newly renovated Hudson’s Bay store at Yorkdale Shopping Centre, Toronto. Photograph by Adam Zendel. [Image Source]

Chinook Centre recently saw a $277 million, 180,000 square foot expansion and the mall is slated for another expansion in the next couple of years. We have an insider looking to obtain plans of Chinook Centre’s next expansion.

Chinook Centre is one of North America’s most productive malls. It sees sales of almost $1,100/square foot and by 2016, it is expected to have sales of close to $1billion with non-anchor sales of about $1200/square foot. These numbers come from this Calgary Herald article.

TopShop website: www.topshop.com

Hudson’s Bay website: www.TheBay.com

Ottawa’s Tanger Outlet Mall – With hr2?

[Image Source]

*UPDATE: This outlet mall proposal was approved by city council and will break ground shortly – Feburary 27 2013 [Source]*


We’re updating readers on the proposed Tanger outlet mall in suburban Ottawa (Kanata). According to submitted city planning documents, the mall will include “pedestrian-oriented private streets lined with retail outlets, createing the ambience of an ourdoor pedestrian mall”.


Customers will park around the edge of the development and then walk through the streets and stores.

Plan of Ottawa’s Tanger Outlet Centre. [Image Source]



A retail analysts speculates Holt Renfrew‘s discount retail concept called hr2 will occupy a 25-30,000 square foot space in the mall. We cannot confirm that speculation at this time.


The mall is being built by American outlet company Tanger Outlet Centres, which has teamed with Ottawa firms Trinity Developments and Taggart Realty as well as real estate landlord RioCan. RioCan plans to open beteween 10 and 15 Canadian outlet malls by 2018.


A 200-room hotel and four free-standing restaurants will also be included.


The rezoning application will be before Ottawa’s planning committee on Tuesday, February 26th. 


We’ll update readers on other outlet malls set to open nation-wide. Keep reading!


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Queen Street Hudson’s Bay to Expand Menswear and Women’s Shoes

Queen Street Hudson's Bay entrance, next to Burberry shop-in-store.

The flagship Hudson’s Bay store at Queen & Yonge Streets in Toronto will see two substantially renovated men’s floors (one of them ‘new’) and a main-floor women’s shoe floor. The men’s offerings will be on lower and second-levels, while an expanded women’s shoe department will be re-located to the west-end of the store’s ground floor, replacing menswear/accessories.

The Queen Street store’s ‘current layout’ has menswear located mostly on the western-portion of the store’s second-level as well as part of the western-portion of the store’s ground-floor. Women’s shoes are located at the eastern-end of the second-floor. The basement includes some home furnishings and a 5,000 square foot food retail concession called ‘Foodwares Market‘.

TopMan will stay on level 2 @ Hudson’s Bay, Queen Street.

The ‘new layout’ will see things moved around a bit. Part of the store’s basement/’PATH’ level will be converted to men’s shirts/ties and the store’s ‘less-expensive’ menswear offerings, while the store’s second-floor will include an expanded selection of men’s shoes and the men’s designer departments called ‘White Space’ and ‘West End Shop’. Men’s TopMan, already located on the second-level, will remain. The 5,000 sq ft Foodwares Market in the basement will remain.

The second-floor men’s store will be renovated to look similar to the sixth-floor men’s store at Hudson’s Bay in Downtown Vancouver. We previously reported on our approval of Vancouver’s men’s floor renovation. The image below is also from the Vancouver store.

Renovated men’s floor at Hudson’s Bay in Vancouver. The Queen Street men’s second floor will adopt a similar look.

The western-portion of the store’s ground-floor will be converted to women’s shoes. A sales associate informs us the new women’s shoe floor will include expanded offerings and more designers. Ground-floor women’s shoe departments have become popular and desirable in department stores. Women’s shoes are big business and provide retailers high margins. Holt Renfrew‘s Caryn Lerner is quoted as saying “It was a dream of ours to have a shoe department on the main floor and, after years, we think we finally got it right,” with the opening of Holt Renfrew’s main-floor women’s shoe department in Calgary in 2009. [Link to Globe & Mail article here].

All three department stores in Beverly Hills include main-floor shoe departments (Barneys, Saks and Neiman Marcus), for example. Each were buzzing with activity upon a recent visit. Seattle’s flagship Nordstrom store also includes a ground-floor shoe department that does ‘gangbuster’ sales according to a source.

‘The Room’ at Hudson’s Bay Queen Street, on 3.

The 850,000 square foot Queen Street Hudson’s Bay store has been undergoing interior renovations since 2008. The store’s third-floor saw the introduction of the 21,500 sq ft women’s designer department called ‘The Room’ in October 2009. A large women’s contemporary department called ‘White Space’ followed, as well as a substantially renovated accessories department on the ground floor with Coach and Burberry boutiques. Sources tell us the entire Queen Street store will hopefully be ‘competely renovated’ in the next 12-18 months.

We will provide more details of the new men’s floors and women’s shoe floors when they become available. 

Hudson’s Bay website: www.TheBay.com

De Beers Opening First Canadian Store in Vancouver

Image: De Beers

De Beers will open its first Canadian store on Alberni Street in Vancouver. It will be located within ‘The Carlyle’ retail complex, currently under renovation at the south-east corner of Alberni and Thurlow Streets. De Beers will join Tory Burch and another luxury womenswear retailer (NOT Chanel) in the new retail plaza. We’ll announce the womenswear retailer once lease negotiations are finalized.

We’re waiting to hear back from De Beers head office as to the Vancouver store’s opening date. We anticipate it to be late summer/early autumn 2013.

For those unfamiliar, De Beers is a diamond company that also retails its wares in a few select cities around the world. De Beers stores are beautiful, product is pricey, and having a De Beers store is considered a prestigious addition to any retail location. De Beers currently has 10 North American locations, all in the United States. De Beers has 45 stores world-wide, 24 of which are located in Asia.

According to the De Beers website:

“For a century and more, De Beers diamonds had been set, anonymously, into the creations of master jewellers around the world; now the finest natural diamonds, both rough and polished, have a home of their own. Fusing the essential timelessness of the diamond with dynamic, contemporary yet classic designs, we are the leaders in diamond jewellery innovation in both artistry and craftsmanship. De Beers Diamond Jewellers was established in 2001 as an independently managed and operated company by LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods company, and De Beers SA, the world’s premier diamond mining and marketing company.”

Retail Insider consulted with a retail analyst who speculates De Beers’ Vancouver store will cater to Asian tourists as well as Vancouver residents. The location is up the street from one of North America’s top-selling Tiffany & Co. stores, and joins a city with other luxury jewellers such as Cartier, Roberto Coin, Van Cleef & Arpels @ Birks and Frey Wille, amongst others.

Some readers might chuckle, noting ‘The Carlyle’ also includes a 12,000 square foot dollar-store tenant called ‘Dollar Tree on its Thurlow Street side. Its street entrance leads shoppers to the lower-level store via escalators. These luxury retailers will be located directly above the dollar store.

Thank you to our source Van23H of Vancouver Skyscraper Forum.

De Beers website: http://www.debeers.com