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MINISO opens new Vancouver flagship store (Photos)

By
Mario Toneguzzi
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MINISO
MINISO

Global lifestyle brand MINISO has opened its new Vancouver flagship store at CF Richmond Centre in Richmond, British Columbia.

In a news release, the company said the launch of another pink-themed store underscores MINISO’s growing presence in Canada as it advances on its mission to bring more joyful shopping experiences to a wider audience across the country through more innovative designs, dreamy atmospheres, and expanded IP product sections.

MINISO opens in the heart of Richmond

“Located in the heart of Richmond with direct access to major transportation routes, the 3,500-square-foot MINISO store sits conveniently on the first floor of the CF Richmond Centre, near H&M and Shoppers. The new flagship brings MINISO to a prime location, offering a vibrant shopping environment and joyful experiences in one of the city’s busiest retail hubs,” it said.

“MINISO fans can explore a wide selection of around 3000 SKUs, offering everything they need for daily life, as well as products they love, such as blind boxes, plushies, cosmetics, stationery, and household items. The flagship store features a curated selection of popular products, along with exclusive collaborations with famous IPs such as Disney, Sanrio, and newly launched series like BT21, Chiikawa, and Zanmang Loopy. New beauty launches from beauty brands including Black Rouge, Into You, MilleFee, and Canmake further enrich the store’s offering, ensuring the store has something for everyone.”

The new flagship features MINISO’s beloved products including IP collaborations with Disney, Sanrio, BT21, Chiikawa and more. (Photo Credit: MINISO)
The new flagship features MINISO’s beloved products including IP collaborations with Disney, Sanrio, BT21, Chiikawa and more. (Photo Credit: MINISO)

As MINISO’s first pink-themed store in B.C., the Vancouver flagship reflects the brand’s dedication to creating fun and memorable shopping experiences, added the retailer.

“The store’s soft pink hues and playful neon elements set the stage for a visually captivating environment, drawing customers into a whimsical world that feels fresh, inviting, and effortlessly joyful. With installations such as a pink Ferris wheel, pink blind box station, and an interactive makeup area, the store invites customers to explore and engage in an immersive, dynamic setting. The store’s unique design and product variety make it a must-visit destination for Vancouver shoppers,” it said.

Key step in strategic Canadian expansion

“This flagship marks a key step in MINISO’s strategic expansion across Canada as it brought another well-design store to the community. The recently opened Sherway store, which also marked the debut of the Chiikawa collection and introduced a new pink-themed store design for the first time in Canada, and other new stores such as CF Fairview Mall and CF Lime Ridge Mall in Ontario, exemplify the brand’s fresh, innovative design approach, bringing more joy to shopping. With around 10 new stores opened earlier in the year, the brand plans to open up more new stores across the country in 2024, including a new themed store at Eaton Centre and additional locations in major malls across Quebec. With its unique IP collaborations and focus on customer engagement, MINISO continues to distinguish itself as a leader in the global lifestyle retail space,” explained the retailer, which opened its first store in China in 2013.

“Looking ahead, MINISO remains dedicated to further growing its footprint both in Canada and globally, bringing engaging, design-led, joyful shopping experiences to even more customers worldwide.”

MINISO’s new Vancouver flagship store at CF Richmond Centre. (Photo credit: MINISO)
MINISO’s new Vancouver flagship store at CF Richmond Centre. (Photo credit: MINISO)

CFIB launches campaign for Small Business Month

By
Mario Toneguzzi
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Small business owners continue to face challenges (Photo credit: RDNE Stock project)
Small business owners continue to face challenges (Photo credit: RDNE Stock project)

Today marks the beginning of Small Business Month in Canada and the Canadian Federation of Independent Business is kicking off a campaign to thank and celebrate the entrepreneurs who power the national economy despite mounting challenges.

While conditions over the past six months appear to be improving, one in four enterprises are still reporting they are in poor health, explained the CFIB.

In fact, more than half of owners (53 per cent) would not advise someone to start a business right now. Most cite difficulty keeping up with the cost of operating (89 per cent), the high tax burden (72 per cent), stress about the economy (76 per cent), and excessive government paperwork (62 per cent) as the main reasons behind their belief that now is not a good time to start a new venture.

Ryan Mallough, CFIB’s vice-president of legislative affairs for Ontario

Ryan Mallough, CFIB’s vice-president of legislative affairs for Ontario

“It’s getting harder and harder to run, let alone start, a business. From coast to coast, we’re seeing longtime, iconic places that have been in business for decades fold under the pressures of high costs and reduced demand,” said Ryan Mallough, CFIB’s vice-president of legislative affairs for Ontario. “Our communities are built on the success of these local businesses. It’s important to celebrate the entrepreneurial spirit and the people who take the risks to keep our communities thriving.

“If we want to boost our lagging productivity, create more jobs, and keep our local economies vibrant, we need to do more to support small businesses. Governments have a big role in this, but as citizens we can all do our part to uplift small business owners.”

On Tuesday, the CFIB launched its Big Thank You Contest where Canadians can win big while thanking their favourite small businesses.

Big Thank You Contest launched for Small Business Month

The Big Thank You Contest is presented by CFIB with support from Scotiabank, Interac Corp. (Interac), and Chase. Consumers can enter weekly draws by visiting SmallBusinessEveryDay.ca and leaving a thank-you note to their favourite small Canadian business. 

Emily Boston, CFIB’s senior policy analyst
Emily Boston, CFIB’s senior policy analyst

“Every time you spend a dollar at a small business or locally-owned franchise, 66 cents is recirculated into the local economy. In this way, we’re all tied to our local small businesses’ success,” said Emily Boston, CFIB’s senior policy analyst. “Starting a small business is a leap of faith— saying thank you is the least we can do for those who have taken that leap.”

The winners— one supporter and the place they thanked— are announced every week. 

Entrants can win a cash prize of $750 to shop locally and a Big Thank You gift box full of small business products. The winning enterprise they thank will also receive a cash prize of $2,000, a Big Thank You box, and a one-year CFIB membership.

Owners can download CFIB’s digital toolkits, which include printable posters and customizable social images, to promote the contest and local shopping. 

The CFIB is Canada’s largest association of small and medium-sized businesses with 97,000 members across every industry and region. 

Meanwhile, the CFIB also announced Tuesday it welcomes news from the federal government on several important changes that will reduce some of the host of cost pressures facing Canadian small business owners.

These announcements follow many months of CFIB’s advocacy work and over 31,000 signed petitions from small business owners on these issues, it said.

Here’s the organization’s comments on those issues:

Dan Kelly, CFIB President

On carbon tax
“CFIB is relieved to learn the federal government will return the $2.5 billion small business share of carbon tax revenue that has been stuck in Ottawa for the past five years,” said Dan Kelly, CFIB president. “It’s good news that this money will be returned to small businesses by direct deposit or cheque before the end of the year. These are not trivial amounts of money. For example, a company with 10 employees in Alberta will receive nearly $6,000 in carbon tax rebates, a 25-person company in Saskatchewan will receive nearly $29,000, a 50-person business in Manitoba will receive $24,000 and a 100-person employer in Ontario will get $40,000.”

Rebates will be based on the number of T4s issued by an employer, including those issued to the business owner, their family, part-time, and seasonal workers, as well as for positions that turn over. Smaller rebates will be received by SMEs in all four Atlantic provinces as they have paid the federal carbon tax for only one year. Only incorporated firms (CCPCs) with between 1-499 employees will be eligible.

CFIB is pleased that the federal government has extended the deadline to December 31, 2024, for those who have not yet filed their 2023 corporate income taxes.

While CFIB welcomes the federal government delivering on its commitment to return a portion of carbon tax revenues to small businesses, the vast majority of small firms (83%) now oppose the carbon tax. CFIB will continue to call on all political parties to scrap the carbon tax at the earliest possibility.

On credit card fee reductions
As of October 19, 2024, the cost of accepting credit cards will be reduced by an average of 27% for small businesses processing less than $300,000 in annual Visa sales and $175,000 in Mastercard sales. Small firms will qualify for a 0.95% average interchange rate for in-store sales and a 0.1% cut in ecommerce fees.

“Most small firms should see savings of between $300 and $400 for every $100,000 in Visa sales and $200 for every $100,000 in annual Mastercard sales,” Kelly added. CFIB estimates that over 60% of its 97,000 members will qualify for the savings.

“CFIB will be closely monitoring all credit card processors to ensure the full value of the savings is passed on to the small businesses counting on this relief,” Kelly said. “We are pleased that the federal government has made this expectation very clear, and we will be working with Minister Freeland, Visa and Mastercard to ensure card processors do not try to keep the savings intended for small firms.”
    
CFIB will also encourage the industry to regularly review and increase the thresholds to allow more small firms to qualify for the savings.

On the Code of Conduct for the Payment Card Industry
Today’s revisions to the Code are a positive step in improving fairness in the payments industry for small firms, including an improved process around timelines and expectations for complaints and better protection around contracted bundles.

“Updates to the Code will provide greater clarity and help businesses understand what rates they will pay. These changes have been a long time coming and will lead to a better balance of market power between small firms and industry giants,” Kelly added. 

Erol Custom Tailor Unveils New Yorkville Showroom on Scollard St

By
Craig Patterson
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Erol Custom Tailoring Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson

Erol Custom Tailors, a bespoke tailoring service, has opened an elegant new showroom at 74 Scollard Street in Toronto’s prestigious Yorkville neighborhood. The expansion marks a milestone for proprietor Erol Bayram, who has been honing his craft since his youth.

Bayram’s journey in the world of tailoring began early, working part-time in his uncle’s factory while still in elementary school. The early exposure laid the foundation for his expertise, eventually leading him to achieve master tailor status. Fourteen years ago, Bayram took the entrepreneurial leap and opened his first shop at the corner of Scollard and Bay Streets under the name ‘Erol Custom Tailors Limited’.

Inside the new Erol Custom Tailor Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson
Inside the new Erol Custom Tailor Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson

The new location on Scollard Street, which Bayram purchased and extensively renovated over the course of a year, represents a significant upgrade from his previous premises. Bayram described the meticulous attention to detail that went into creating the space. The showroom boasts a sophisticated white interior with marble floors, custom chandeliers, and specially designed mirrors, creating an atmosphere that reflects the quality and craftsmanship of the garments on offer.

Erol Custom Tailors’ collection spans a wide range of bespoke clothing and accessories. Bayram says he takes pride in his organic denim jeans, which he describes as a “dress style, with stretch, and very comfortable.” The showroom also features a selection of shoes crafted from soft leather, sourced and manufactured to Bayram’s specifications in Istanbul, Turkey.

Row of heritage buildings on Scollard Street. Photo: Craig Patterson
Erol Bayram custom fitting a jacket for a client. Photo: Erol Custom Tailor
Inside the new Erol Custom Tailor Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson
Erol Bayram

While men’s suiting remains a cornerstone of the business, Bayram has expanded his offerings to include women’s wear. His collection for women features blazers described as having a “very classy, dressy style,” along with high-rise dress pants and skirts. The tailor also offers remodeling services, breathing new life into clients’ existing garments through creative redesigns.

Bayram works with high-end fabrics from renowned mills such as Loro Piana, Scabal, and Holland & Sherry. The dedication to superior textiles, combined with his mastery of tailoring techniques, has earned him a loyal clientele who say that they appreciate the comfort and styles of his creations.

Bayram works below the showroom — a narrow staircase leads to the lower level, where Bayram has set up his workshop. This area houses specialized machinery for cutting and crafting garments, allowing for on-site customization and alterations. The building also features ample storage space, crucial for maintaining an inventory of fabrics and finished pieces.

Former Erol Custom Tailors location at 1300 Bay Street. Photo: Brown Management Services

Looking to the future, Bayram plans to expand his ready-to-wear offerings. “Later on, I’m going to start custom dress shirts,” he said. He also anticipates growing his fabric selection, with new stock already on order to enhance the in-store display.

More photos of Erol Custom Tailor at 74 Scollard Street in Toronto:

Erol Bayram creating a custom jacket for a female client. Photo: Erol Custom Tailor
Inside the new Erol Custom Tailor Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson
Inside the new Erol Custom Tailor Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson
Inside the new Erol Custom Tailor Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson
Inside the new Erol Custom Tailor Ltd. at 74 Scollard Street in Toronto. Photo: Craig Patterson

Related:

The Webster Opens 1st Canadian Storefront in Toronto’s Yorkville Area [Feature/Photos] 

Luxury Multi-Brand Retailer ‘The Webster’ to Open 1st Canadian Store in Toronto’s Yorkville Neighbourhood

The Webster Chooses a Facade Colour for its First Canadian Store in Toronto’s Yorkville Area

Psycho Bunny keeps growing its retail presence (Interview)

By
Mario Toneguzzi
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Psycho Bunny at Yorkdale Shopping Centre (Image: Psycho Bunny)

Premium menswear brand Psycho Bunny is in expansion mode these days as it aggressively rolls out new stores in Canada and abroad.

And it’s also engaging in strategic partnerships to continue to grow its presence in the retail landscape.

The brand will be opening its 100th North American store in Quebec City in November. There are about 60 stores in Latin America – Mexico, Colombia, Panama and some of the Caribbean islands. There’s one store in Dubai and a new store coming soon in Kuwait. Next week it’s opening in South Africa. The brand has 15 stores in Canada.

Anna Martini, CEO, Psycho Bunny
Anna Martini, CEO, Psycho Bunny

Anna Martini, CEO of Psycho Bunny, said Psycho Bunny has opened 17 stores in the past year.

“It started off call it in 2018, 2019 where the first pop up store was opened in Florida. It’s kind of the beginning of the story of the pretty rapid expansion in terms of North America,” said Martini. “It was a pop up store that was hugely accepted from the point of view of people falling in love with the brand instantaneously. So that sort of started off the rollout of the stores.

“And even through COVID Psycho Bunny was opening stores in the U.S. So we only started opening in Canada at the end of 2022.”

Psycho Bunny looking for premier shopping malls

Martini said Canada has amazing retail real estate across the country. 

“So for sure, we’re looking to partner with premier shopping malls in the country. And we have a few. If you look at our Canadian portfolio, we have definitely already entered into amazing shopping centres in Canada. So obviously, we look for shopping centres that have pretty high traffic, like most retailers do. One is a great location within the mall. Two the great mall is high traffic, great, great co-tenancy – all of the ingredients that make for it to be like a great shopping centre.”

She said the brand is also opening at Vaughan Mills in a couple of weeks. 

“Next year again we already have some stores, you know, in the roster. So next year we’re going to be continuing our expansion in North America. Obviously we’d like to open in Calgary, so we’re working closely with the landlord to see if we try and find a spot there because we are in Alberta at West Edmonton Mall, and in Vancouver, we got three stores in Vancouver. So Calgary is hopefully going to be our next market, untapped market. We’re looking at a few things, looking at Ottawa and also in Greater Toronto, Greater Montreal, we still have room for expansion in these existing markets,” added Martini.

She said the brand is successful because it’s premium, high quality product with 80 per cent of the products sourced out of Peru with premium Pima Cotton. 

Jeff Berkowitz at Aurora Realty Consultants represents Psycho Bunny in Canada.

Reason for Psycho Bunny’s success

“And second thing is our guy, so our muse, his name is Liam. He’s the guy that we think about every day as we’re designing products, as we’re figuring out what we’re going to do from a marketing perspective, what we do in terms of store and store experience. So we’re really focused on being a big part of Liam’s life, whether it’s his work life, his casual hanging out with the guys, or going on a date. He’s really our focal point, and that’s been obviously an important part of our success. 

“And of course our Psycho Bunny logo, which brings a smile to most people when they look at this logo. So it’s fun with a little bit of edge. A little bit of edge is always good in life.”

This year it completed its first year in partnership with Tennis Canada.

Photo courtesy of Tennis Canada

“We really love the space, the tennis space. We think it’s very aligned to Liam and to the Psycho Bunny brand . . . We wanted to create beautiful product for what we would call all the ball boys and all the people that are working, all the volunteers at the tennis tournament, everybody from the ball boy to the security guard (at the National Bank Open),” said Martini.

“We had pop up shops basically on premises for both Montreal and Toronto. So it was a great place for us to meet and greet existing customers, new customers, and bring the brand to life in a great environment. The thing about tennis it’s a it’s a beautiful sport, it’s an elegant sport. It’s competitive, it’s fun, it’s bold. And Psycho Bunny is a bold brand. So the fit’s pretty amazing.”

The multi-year Tennis Canada partnership will see Psycho Bunny as the official athletic apparel sponsor of all the Canadian teams. The brand also launched a new consumer lifestyle collection, which includes their cult-favorite polos, hoodies, sweatshirts, track jackets and more. Psycho Bunny’s partnership with Metaverse Group and Super League in launching their Summer Splash Storefront in Roblox led to the inventory selling out in the first 30 minutes.

Martini said that with the success Psycho Bunny has had with Tennis Canada it is looking at other potential partnerships, both in Canada, in the US. 

“We’re working on a few right now, so hopefully we’ll have a few things to announce for next year,” she added.

Inside of one of the Psycho Bunny stores (Photo courtesy of Psycho Bunny)
Inside of one of the Psycho Bunny stores (Photo courtesy of Psycho Bunny)

Related Articles:



Coffee prices to rise in Canada while other commodities drop 

By
Sylvain Charlebois
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Photo: Tim Horton's

Canada Sees Coffee Price Surge Amid Declining Agricultural Commodity Prices

Most agricultural commodities are experiencing price drops compared to last year, including staples like wheat, corn, barley, and canola. Even cocoa, which hit a historical high less than a year ago, has seen a decrease.

However, coffee prices remain an outlier, with arabica coffee hitting a 13-year high. Currently, a pound of arabica coffee costs $2.70 U.S., reflecting an increase of over 80% since September of last year. This surge is largely due to severe droughts and wildfires in Brazil and Vietnam, the world’s top coffee producers, which together account for around half of the global coffee bean production.

A cup of coffee that might be getting a little more expensive in Canada in the coming months, says Dr. Sylvain Charlebois. Photo: iStock

Will Coffee Chains in Canada Increase Prices?

Historically, companies like Tim Hortons raised prices during coffee price surges, as they did in 2011 when coffee prices spiked. However, it’s important to note that the cost of coffee beans typically comprises a small portion—between 5% to 10%—of the total price of a cup of coffee at large chains. The bulk of the price goes toward covering labour, rent, utilities, and other operational costs. As such, while we can expect some price adjustments, drastic increases are unlikely in the short term.

The fluctuation in coffee prices over time is primarily driven by climatic factors. Arabica coffee requires specific growing conditions, and the regions suitable for its cultivation are shrinking due to climate change. Meanwhile, global demand continues to grow, especially in emerging markets like China and India, where coffee consumption is on the rise despite their traditional preference for tea.

Dispatch Coffee on Bay Street in Toronto (Image: Dustin Fuhs)

Canada’s Coffee Culture and Consumption Rankings

Canada, too, is a significant coffee-consuming nation, ranking 11th globally with an average of 1.57 cups per person per day. Coffee is deeply embedded in the daily routines of Canadians, with the average individual expected to drink around 35,000 cups of coffee over their lifetime. However, countries like Luxembourg, Finland, Sweden, and Norway boast even higher per capita coffee consumption, with people drinking more than five cups a day in some cases.

With coffee being one of the most traded commodities globally, there’s growing interest in producing it more sustainably through lab-grown methods. Research on lab-grown coffee has been ongoing since the 1970s, but only recently have we seen more serious advancements in replicating the taste and aroma of traditionally farmed coffee. A study by the VTT Technical Research Centre of Finland suggests that lab-grown coffee could eventually match the flavour profile of conventional coffee, and there’s optimism about the scalability of the technology.

Good Earth Coffeehouse Sunridge Mall (Image: Good Earth Coffeehouse)

Investments Pouring Into Lab-Grown Coffee Startups

The lab-grown coffee sector has attracted significant investments in the last two years. Atomo Coffee, for example, has raised millions to develop molecular coffee made from plant waste. Other startups are collectively raising tens of millions of dollars to create sustainable coffee alternatives that reduce water use, carbon emissions, and the need for deforestation linked to traditional coffee farming.

However, until lab-grown coffee becomes mainstream, it is unlikely that consumers will see lower coffee prices. For now, stocking up on coffee beans when prices dip may be the best strategy for coffee lovers to manage rising costs.

Other articles from the author:

How AI Empowers Accountants for the Future

By
Geetanjali Sharma
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Today, accountants are expected to manage much more than financial recordkeeping. They’re seen as strategic advisors, using financial data to guide decisions and help companies plan for a better future.

Accounts who effectively fill that role operate on two levels. They focus on the day-to-day details of a company’s financial activity while regularly zooming out to assess their implications. They manage the present while also helping to shape the future.

To accomplish this challenging task effectively, many accountants have turned to artificial intelligence for help. AI-driven tools provide accountants with the capabilities to process data at higher speeds with fewer errors, resulting in more reliable insights. When deployed correctly, AI accounting software empowers accountants to meet emerging expectations with confidence.

Unleashing AI in the accounting space

AI is transforming bookkeeping by automating time-consuming tasks like reconciling expenses, categorizing transactions, normalizing vendors, and closing books. 

In the past, reconciling expenses was a time-consuming task that required accountants to manually compare recorded expenses against receipts and invoices. Now, with AI, the process is automated. All data, even handwritten notes, are extracted immediately.

Likewise, AI can categorize transactions and classify them based on historical data. This frees up accountants’ time from doing any manual work or having to re-categorize due to human error. This also includes ensuring vendors aren’t duplicated. 

Additionally, AI can speed up the month-end close by automatically creating journal entries. AI can handle complex scenarios like prepaid and accrued expenses, fixed assets, accrued revenues, and deferred revenues.

Besides automating manual tasks, AI can also generate spending insights and predictions based on historical data. This allows businesses to identify spending patterns and plan accordingly for the future. 

By embracing AI, businesses can make accounting less time-consuming, ensure compliance, and make better financial decisions overall.

Pairing AI processing with human expertise

As accountants delegate routine tasks to AI-powered tools, they have more time to turn their focus to supervisory tasks. For example, as AI reviews financial records, it may note anomalies that indicate fraudulent activities. At that point, accountants can be called in to review the findings and, when necessary, conduct a further investigation.

AI is effective at shortening the timeline of accounting processes. It can conduct financial reconciliation and create expense reports, automatically passing those reports to the appropriate managers for approval. By cutting down on the number of manual reviews that must be conducted, AI removes bottlenecks and streamlines processing time.

Ultimately, AI’s ability to rapidly process financial data from a variety of sources empowers a greater capacity for financial forecasting. Armed with AI-driven tools, accountants can uncover trends more quickly, project their implications more accurately, and illustrate how operational changes can influence future financial patterns.

Risk assessment in accounts receivable is one area where AI’s capacity for forecasting can be extremely valuable. As AI uncovers trends and anomalies in clients’ payment histories, it can provide accountants with an early warning on which accounts could become delinquent. The advanced knowledge allows companies to address the issue proactively, such as by suggesting personalized payment plans.

Leveraging AI to improve data-driven decision making

AI provides accountants with the capacity to review more information in less time, empowering analytical capabilities that support data-driven decision-making. For accountants expected to provide both financial and managerial accounting, this capacity is invaluable.

For example, AI accounting software can easily analyze the interaction between sales data and its sources, operational metrics such as inventory levels and supply chain expenses, and finance data such as outgoing transactions and investment activity. Hypothetically, this analysis can reveal trends such as a 15 percent increase in sales while the costs of goods sold have risen by 20 percent and inventory holding costs have doubled. By flagging the discrepancy as an issue with supply chain efficiency, AI could prompt the company to take steps to address the imbalance between sales growth and rising operational costs.

The expectations on accounts are higher today than they have ever been. AI accounting software provides the ability to meet those expectations. By integrating AI-powered tools into their operations, accountants can gain a greater capacity for managing day-to-day processing while also facilitating data-driven decision-making.

– Snehal Shinde, Co-founder and Chief Product Officer of Zeni, is a Product Entrepreneur with more than 15 years of professional experience leading innovative products and technologies and delighting the lives of 10’s of millions of users globally. Zeni is a CFO-As-A-Service platform that has raised a total of $47.5 million to date. With Zeni, Snehal is building AI and automation that can supercharge startup finances for speed and reliability. He is also able to dig deeper into what it means to build products with startup founders and business owners in mind, as well as how to find the perfect balance between humans and machines to enhance the customer experience. Snehal has a decade of experience in various senior product management and engineering roles at companies like American Express, Yahoo!, Symantec, & ADP. At Yahoo!, Snehal led the Product Management efforts across all key Yahoo! Media properties like News, Movies, Finance, and Sports for Social Sharing Initiatives, as well as the company’s Open APIs initiative for getting media properties on mobile.

Office space available at the Marine Building, 1411 Peel Street in Montreal

By
Craig Patterson
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The Marine Building at 1411 Peel Street (at Ste-Catherine) in Montreal. Photo supplied

Located at the intersection of Sainte-Catherine and Peel Streets in downtown Montreal, the Marine Building offers boutique Class A office space across five floors, with three levels of retail at its base. 

Constructed in 1989 by Sheldon Mintzberg, who continues to manage the building as owner and CEO of the Marine Group, this property combines high-quality materials with thoughtful design.

The office spaces are beautifully renovated, providing modern features in a historical context. Additionally, the building’s lobby has undergone recent upgrades, featuring escalators, marble walls and flooring, and unique artwork, adding to the professional atmosphere.

Available spaces include:

  • Third floor: 6,429 sq. ft. (suite 300)
  • Fifth floor: ~5,400 sq. ft.
  • Sixth floor: 2,984 sq. ft. (suite 600) and 3,046 sq. ft. (suite 602)
  • Seventh floor: 3,700 sq. ft. (suite 701)

The Marine Building is directly connected to downtown Montreal’s underground pedestrian network, offering indoor access to the STM Metro (Peel Station) and the upcoming REM system. Parking facilities are also available nearby, along with on-site parking connected to the Underground City.

For leasing inquiries, contact Kyle Mintzberg of the Marine Group:

Office lobby of the Marine Building at 1411 Peel Street in Montreal. Photo supplied.
Office space at the Marine Building at 1411 Peel Street in Montreal. Photo supplied.
Unique light show as part of the art in the office lobby of the Marine Building at 1411 Peel Street in Montreal. Photo supplied.

*Retail Insider has partnered with the Marine Group for editorial, including this advertisement ahead of ICSC@CANADA in Toronto next month. To work with Retail Insider, contact Craig Patterson at craig@retail-insider.com

Related:

Downtown Montreal Seeing Foot Traffic Returning with Office Space at Sainte-Catherine and Peel Available

Ste-Catherine St in Montreal on the Verge of Recovery: Needs 8% Occupancy Boost [JLL Report]

Canadian Retail News From Around The Web For October 1, 2024

By
Retail Insider
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Canadian Retail News From Around The Web

News at a Glance

Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.

Is food the new fuel? Convenience stores look to become food destinations (Globe & Mail)

Opinion: What high grocery prices say about the dysfunction in Canada’s economy (Globe & Mail)

Port of Montreal Longshore Workers Strike Disrupts Trade for 72 Hours (Retail Insider)

Old downtown storefront gets new life along Dundas Place (London Free Press)

Indigenous store gives artists a ‘safe space’ to show their work with pride (CBC)

Maxi opens two new stores in Quebec (Grocery Business)

Bohemian new Kensington vintage shop features Vogue-approved heirloom quilt coats (Streets of Toronto)

Third-generation Vancouver tailor continues family legacy with The Sartorial Shop (Vancouver Sun)

Canada Goose Navigates Strategic Shift to Direct-to-Consumer Model

By
Maya Johnson
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Canada Goose store in London. Rendering: Canada Goose

Canada Goose Holdings, Inc. is undergoing a strategic transformation in response to evolving market conditions. The company’s recent financial performance highlights both the challenges and opportunities it faces as it shifts focus from wholesale channels to a more direct-to-consumer (DTC) model, all within the context of a complex retail environment.

Financial Performance Overview

In the first quarter of fiscal year 2025, Canada Goose exceeded market expectations, reporting an adjusted loss per share of C$0.79, a result that outpaced consensus estimates. This was largely due to stronger-than-anticipated sales and more efficient management of selling, general, and administrative (SG&A) expenses. This positive outcome, during a traditionally slow period for outerwear sales, demonstrates the company’s resilience and operational prowess.

For the full fiscal year 2024, which concluded prior to the release of the Q1 FY2025 results, Canada Goose reported robust growth across all its major regions, showing improved profitability year-over-year. The final quarter of FY2024 saw adjusted earnings per share (EPS) of C$0.19, surpassing expectations once again, thanks to increased sales and strong SG&A management. Looking ahead, analysts project a cautious yet optimistic outlook for fiscal year 2025, forecasting an EPS of USD 1.13, with expectations for USD 1.23 in the subsequent year.

Canada Goose on Peel in Montreal
Canada Goose on Peel Street in Montreal. PHOTO: MAXIME FRECHETTE

Strategic Shift to Direct-to-Consumer Sales

Central to Canada Goose’s current strategy is its shift towards direct-to-consumer sales, a move that reflects broader retail trends. Wholesale revenues saw a significant year-over-year decline of 41.7%, as the company continues to pull back from traditional sales channels. While the drop in wholesale may initially seem concerning, it is a deliberate part of the company’s long-term plan to streamline operations, enhance customer engagement, and improve profit margins.

By reducing its reliance on third-party retailers, Canada Goose aims to take greater control of its brand narrative and product distribution. The DTC model presents opportunities for higher margins, better customer data access, and more personalized shopping experiences, all of which can contribute to long-term growth. As the company refines its DTC operations, it may also benefit from stronger pricing control and less dependency on markdowns and promotions often seen in wholesale partnerships.

This shift reflects one of the company’s strengths, being its ability to adapt quickly to a changing market while leveraging strong brand recognition in the luxury outerwear sector. Additionally, Canada Goose’s improved profitability and performance across regions highlight its operational efficiency. However, the significant drop in wholesale revenues also underscores a weakness, as the company has historically relied on these partnerships for stable, predictable revenue streams.

Canada Goose opens its doors in the city it calls home, Toronto Yorkdale (CNW Group/Canada Goose)

Regional Performance Variability

Canada Goose’s performance varies significantly across regions, with the Asia-Pacific (APAC) market leading growth in recent quarters. The brand’s strong appeal in luxury-driven markets in APAC, particularly China, highlights its potential to capture the growing affluence in the region. However, North America (NA) and the Europe, Middle East, and Africa (EMEA) regions have presented more mixed results, partially offsetting the gains made in APAC. As Canada Goose continues to navigate these mature markets, maintaining its premium brand positioning while addressing shifting consumer preferences and economic conditions will be key.

The APAC market presents a major opportunity for Canada Goose to expand its presence in luxury-focused regions. The company is well-positioned to capitalize on rising demand for high-end products, particularly in markets like China, where the appetite for luxury goods continues to grow. At the same time, however, challenges in North America and EMEA reflect a potential threat as the company works to maintain growth in more saturated and competitive markets. Economic uncertainties and changing consumer preferences in these regions could further complicate its expansion strategy.

EXTERIOR OF CANADA GOOSE STORE AT YORKDALE SHOPPING CENTRE. PHOTO: JM
EXTERIOR OF CANADA GOOSE STORE AT YORKDALE SHOPPING CENTRE. PHOTO: JM

Challenges and Growth Prospects

Despite a strong first quarter and overall fiscal year performance, analysts remain cautious about Canada Goose’s growth potential in the near term, primarily due to the sharp decline in wholesale revenue. The wholesale segment, which has traditionally provided a stable source of income, has seen its contraction accelerate as the company pivots towards DTC. This may lead to challenges in cash flow forecasting and could impact relationships with long-standing retail partners, affecting the brand’s visibility in certain markets.

Canada Goose’s heavy reliance on cold-weather apparel, while a hallmark of its brand, also presents a weakness and a risk. Seasonal fluctuations and the broader impacts of climate change could reduce demand for winter outerwear, complicating efforts to sustain growth. Furthermore, there’s the threat of increased competition in the premium outerwear market, as brands like Moncler and The North Face continue to innovate and appeal to the same luxury-oriented customer base.

Opportunities for Long-Term Profitability

The shift to a DTC model, while presenting near-term challenges, could enhance Canada Goose’s profitability over the long run. By eliminating middlemen, the company can capture a greater share of the retail price, improve inventory management, and maintain tighter control over brand experience. Direct interaction with customers via e-commerce and owned retail stores will provide valuable insights, enabling Canada Goose to adapt more quickly to market trends and consumer preferences.

Analysts also point to the potential for margin expansion as the company optimizes its DTC operations. With the opportunity to realize economies of scale in its retail and e-commerce channels, Canada Goose could see improved operational efficiencies. Furthermore, the reduction of wholesale business means less reliance on promotional activity, preserving the premium image of the brand and allowing for better pricing strategies. These opportunities for margin growth, particularly through optimized operations and global expansion, position Canada Goose well for long-term success.

As the company continues to focus on expanding into higher-margin product categories and exploring local production in key markets, there is potential for further margin growth. These efforts could help bolster profitability and support Canada Goose’s ambition to become a more agile and efficient luxury brand in a competitive global market.

Conclusion

Canada Goose’s ongoing transition to a direct-to-consumer model represents both an opportunity and a challenge for the company. While the sharp decline in wholesale revenues may cause short-term disruptions, the shift is strategically aligned with long-term growth and profitability. Success will depend on the company’s ability to navigate a complex retail landscape while leveraging its brand strength and customer loyalty to achieve sustained growth in the years to come.

Related:

Fairfax to acquire controlling ownership of Peak Achievement Athletics

By
Mario Toneguzzi
-
Photo from Bauer Hockey website

Peak Achievement Athletics Inc. announced Monday that certain affiliates of Fairfax Financial Holdings Limited will acquire all the equity interests in Peak currently owned by Sagard Holdings Inc., giving Fairfax control over Peak and its stable of brands including Bauer Hockey, Cascade Lacrosse and Maverik Lacrosse.

Ed Kinnaly

“We couldn’t be happier that Fairfax has decided to acquire controlling ownership of our portfolio of brands. Fairfax has been an incredible partner over the past seven years, and we’re thrilled to solidify this new long-term relationship. Having Bauer Hockey remain with Canadian ownership reflects the importance of the sport within Canadian culture. With Fairfax’s ongoing support the opportunity for our business potential is limitless,” said Ed Kinnaly, Chief Executive Officer of Peak, in a news release. “We also want to thank Sagard for the partnership over the past seven years and their leadership in helping to grow Peak’s brands to the leadership positions they hold today.”

V. Prem Watsa (Photo from Horatio Alger Association of Canada website)

“We are very excited to increase our ownership in Bauer, led by Ed Kinnaly, which has over many years cultivated Bauer as the most iconic and successful hockey brand in the world,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. “Ed and his leadership team have positioned Bauer for growth and continued success for many years to come. We are very thankful to Paul Desmarais III and Sagard for what has been a valuable and rewarding partnership in owning Bauer together, and we wish them all the best in the future.”

In 2017, Fairfax and Sagard purchased Peak, which has a portfolio of leading global brands that includes BAUER, CASCADE and MAVERIK. With its roots starting in Kitchener, Ontario, in 1927, Bauer Hockey is the leading hockey equipment and apparel manufacturer in the world and the No. 1 brand in the game. Cascade Lacrosse and Maverik Lacrosse combine to be the leader in lacrosse head protection and equipment.

The transaction is expected to close in the fourth quarter of 2024.

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