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Ruby Liu to Launch New Department Store Chain in Canada

By
Craig Patterson
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Hudson's Bay store at Centerpoint Mall in Toronto. Image: LAA via Google Maps

A new chapter in Canadian retail is unfolding as Hudson’s Bay Company ULC has entered into a definitive agreement to assign up to 28 of its store leases in British Columbia, Alberta, and Ontario to a company controlled by billionaire Weihong (Ruby) Liu. The agreement, revealed Friday and confirmed by a press release, marks the first major store footprint acquisition amid the department store chain’s ongoing liquidation under the Companies’ Creditors Arrangement Act (CCAA).

The leases will be transferred to Ruby Liu Commercial Investment Corp., as the Vancouver-based businesswoman prepares to launch a brand-new department store concept designed to appeal to a broad, multicultural Canadian audience.

Employment opportunities at the new store will be prioritized for former employees of Hudson’s Bay. “This initiative reflects our commitment to supporting individuals and families and contributing to local communities,” Central Walk said in an emailed press release. Additionally, priority will also be given to suppliers and vendors who previously partnered with Hudson’s Bay.

The emailed press release stated, “Under the leadership of Ms. Ruby Liu, Chairwoman of Central Walk, the store locations will be transformed into modern department stores, bridging the gap between generations, providing immersive shopping experiences, and becoming a destination where all age groups thrive together.”

Hudson’s Bay store at West Edmonton Mall. Photo: Kyle Kempfer

The Company released the following statement from Ms. Liu, translated into English: 

“Central Walk Canada is planning to conduct a series of transformative initiatives aimed at fostering intergenerational connections, promoting active lifestyles, and empowering youth through meaningful engagement as part of this transaction.” 

“We are evolving to serve Canadians better. We believe every Canadian family deserves a brighter future. Join us in this journey of growth and connection. Together, we can build a more vibrant, caring, and forward-thinking multiculturalist community.”

The press release provides further insight into Central Walk, and the company’s owner’s plans for her new Canadian department store chain. The emailed press release from Central walk noted that the company specializes in the acquisition, development, and management of large-scale retail properties. The release goes on to say that “With a strong business foundation in Southeast Asia, the company has expanded its operations to Canada, aiming to transform traditional shopping centres into inclusive, multifunctional community hubs. The company’s mission emphasizes community engagement and the creation of diverse shopping environments that serve families and integrate retail, dining, entertainment, and cultural experiences.” The same environments are expected to be part of her new Canadian department store chain.

A Landmark Deal in Canadian Retail History

“This is a monumental development,” said Carl Boutet, retail strategist and founder of StudioRx Advisory, in an interview. “We haven’t seen a new department store chain launch at this scale in Canada since Target’s ill-fated expansion over a decade ago. But unlike Target, this concept is homegrown, community-focused, and clearly aims to rewrite what a department store can be.”

Carl Boutet

Liu’s newly inked deal, which is still subject to court and landlord approval, covers store leases in shopping centres where Hudson’s Bay is in the process of winding down operations. The deal was orchestrated as part of a lease monetization process approved by the Ontario Superior Court of Justice (Commercial List).

In a video posted to Chinese social media platform Rednote, Liu was seen signing the contracts surrounded by staff, counting down aloud before putting pen to paper and erupting into applause. Champagne toasts followed—a staged yet symbolic gesture of what may be a historic shift in the retail landscape.

From Mall Owner to Retail Operator

Liu is no stranger to Canadian retail. Through her company Central Walk, she owns three major shopping centres in British Columbia—Mayfair Centre in Victoria, Woodgrove Centre in Nanaimo, and Tsawwassen Mills near Vancouver. Her transition from landlord to retailer underscores a rare full-circle retail strategy.

“She’s in a very unique position,” noted Boutet. “She knows what it takes to make malls work and has direct experience with leasing, tenant mixes, and foot traffic drivers. That knowledge could prove invaluable as she flips the switch from property manager to anchor tenant.”

Insiders suggest that at least three of the 28 assigned leases are located within Liu’s own malls. “We suspect those were always on her radar,” Boutet added.

Weihong (Ruby) Liu, left, prepares to sign documents with Linda Qin at the Central Walk office at Tsawwassen Mills on Friday, May 23. Image: RedNote

A New Kind of Department Store

Unlike Hudson’s Bay’s traditional retail format, Liu’s new concept—still unnamed—will be highly experiential, with immersive elements, a store-in-store format, and a distinctly multicultural approach.

“She’s not trying to recreate the past,” said Boutet. “This will be something very different. Think a hybrid between department store, cultural centre, and experiential marketplace. The goal is to create something joyful and community-driven.”

According to early concept materials shared internally on Rednote, the store will include a mix of fashion, beauty, small-format groceries, and food service. “We’re talking about a space that could host cosplay events, 5D theatres, and virtual reality zones,” said Boutet, referencing Liu’s existing activations at Tsawwassen Mills. “This is more than shopping—it’s entertainment, community building, and cultural engagement.”

Brand Building from the Ground Up

Unlike other bidders in the Hudson’s Bay restructuring process, Liu did not pursue the brand’s intellectual property. That portfolio—including the HBC name, logo, and trademarks—was acquired last week by Canadian Tire Corporation for $30 million.

As a result, Liu’s venture will be launching from scratch.

“She’s going to need to build brand awareness from zero,” said Boutet. “But there’s a strong grassroots foundation already forming in certain communities—especially Chinese and multicultural segments that follow her on Rednote. Word of mouth will be crucial in the early days.”

While Liu is active on Chinese social media, her team is likely planning a broader marketing push across platforms like Instagram, TikTok, and Meta. “I’d expect them to start showing up in Canadian mainstream media soon,” Boutet said.

A Champaign celebration following paper signing at Tsawwassen Mills on Friday, May 23, 2025. Image: RedNote screen shot

A Race Against the Clock

The path ahead won’t be easy. Court documents show that 62 Hudson’s Bay leases failed to receive any qualified bids. Liu’s deal is the most expansive of the 12 qualified bids for 39 leases, and with it comes pressure to activate spaces quickly.

“She now holds the keys to over two dozen massive retail boxes,” Boutet emphasized. “But as soon as Hudson’s Bay is out, she’s on the hook for those rents. That means rapid store build-outs, fixturing, staffing, and activating the space—some with food services and immersive experiences that take time and capital.”

He added, “This isn’t like just stocking shelves. She’s talking about full-scale food operations and experiential zones. And many of these stores need renovations. Some piecemeal, some major.”

The next step will be securing landlord consents. Each lease transfer requires approval from individual landlords, some of whom may need convincing—particularly if the proposed use veers away from traditional department store functions.

“Technically, these are being called department stores, which helps fit lease clauses,” Boutet explained. “But landlords also care about viability. They want tenants that will drive traffic and stay solvent.”

Given Liu’s dual role as both landlord and now prospective anchor tenant, some negotiations may be smoother than others. “She knows how to speak their language,” Boutet said.

Weihong (Ruby) Liu holds up a piece of paper showing a working title for her new department store chain launching this year. Alwin Chen is head of marketing for the new department store. Image: RedNote

The Bigger Picture for Canadian Retail

The Canadian retail sector has not seen a player enter the field at this scale since pre-Target days. Liu’s simultaneous bid for 28 stores, mostly concentrated in urban and suburban malls, could fill a significant gap left by Hudson’s Bay and Nordstrom exits.

“This could be the most significant retail startup in Canadian history if she succeeds,” said Boutet. “She’s showing what bold investment in brick-and-mortar can look like—even at a time when everyone is talking about online and AI.”

According to court documents, 17 total bids were received for Hudson’s Bay assets, but Liu is the first to secure a definitive agreement. No details have yet emerged on who will take over the remaining leases.

What Comes Next

Hudson’s Bay plans to complete its liquidation by the end of May. Liu’s lease agreement must receive court approval by May 30. Until then, all eyes are on what will follow this monumental step.

“Retailers across Canada are watching this very closely,” said Boutet. “Because if this works, it won’t just fill a void—it could redefine department stores for a new generation.”

Men’s floor on 6 at Hudson’s Bay downtown Vancouver on May 17, 2025. Photo: Craig Patterson

A Calculated Gamble

Though critics may question the feasibility of launching 28 stores in one fell swoop, Liu’s track record as a developer and businesswoman suggests calculated ambition. “This is not someone who’s just throwing money at a trend,” Boutet concluded. “She’s made it this far by taking smart risks. And if she pulls this off, it’ll go down as one of the most impressive retail turnarounds in Canadian history.”

Whether Liu’s new chain becomes a cornerstone of modern Canadian retail or another ambitious footnote remains to be seen. But one thing is clear: the death of the department store may be overstated—and Ruby Liu may be its most unlikely revivalist.

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Canada’s Tea Tariff Hurts Global South and Consumers [Op-Ed]

By
Sylvain Charlebois
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From the Boston Tea Party to today's targeted tariffs. Image Credit: George Danby / BDN

When Prime Minister Mark Carney quietly lifted most food-related countervailing tariffs on May 7, few Canadians noticed. There was no press release, no public statement—just a discreet policy shift mid-campaign. Yet several symbolic tariffs remain, notably on orange juice, coffee, alcohol, and tea. The rationale? Canadians can supposedly “find substitutes.”

But this logic quickly crumbles under scrutiny. These tariffs aren’t hurting the United States. They’re punishing countries like Kenya, India, Sri Lanka, and Vietnam—nations that actually grow tea and depend on its export for economic development and regional stability.

According to The Tea and Herbal Association of Canada, Canada does not grow or process tea at scale due to its climate and limited infrastructure. We lack the domestic capacity to cultivate, blend, package, or distribute tea commercially. Yet a 25% tariff remains on tea imports routed through the U.S., even when the product originates from the Global South. For example, tea grown in Malawi but warehoused or processed in the U.S. is still hit with the full tariff—penalizing African producers rather than American exporters.

Canadian Prime Minister Mark Carney. Photo: The Canadian Press

The economic damage is now becoming more visible. Until recently, Canadian companies were absorbing the additional costs to shield consumers. That’s changing. Since January, retail tea prices have climbed by approximately 10%, and the pressure is mounting. One major importer now pays around $300,000 per month in tariffs. That level of cost absorption is not sustainable, particularly for mid-sized businesses without the margins to maneuver.

To avoid these punitive costs, some companies are exploring costly supply chain shifts to bypass the U.S. entirely. But these rerouting strategies come with enormous logistical burdens—delays, new regulatory hurdles, and higher operational expenses—all of which continue to be absorbed, for now, by businesses. But make no mistake: this fragile balancing act won’t last.

And when it finally breaks, it’s everyday Canadians—especially seniors and low-income families—who will bear the brunt. For many, tea is more than just a beverage. It’s a dietary and cultural staple, often one of the few affordable and healthy drinks that supports hydration and mental wellness. These benefits are well-recognized in Health Canada’s own nutritional guidelines.

Let’s be clear: this tariff isn’t protecting Canadian industry. There is no domestic tea-growing sector. The industry here revolves entirely around importation, blending, and branding—an ecosystem that contributes up to $1.3 billion annually to the Canadian economy and supports countless community programs, wellness initiatives, and food security projects. These businesses are being penalized not because of wrongdoing, but simply because of where their goods are routed.

Photo: It’s More than Just Tea

There’s also no strategic upside. The United States is not the source of the tea being taxed. It is merely a transshipment point. The real exporters—mostly in the Global South—are suffering from reduced demand, while Canadians pay more for a basic, nutritious beverage found in millions of homes across the country.

Canada has made exceptions before when domestic substitutes didn’t exist—during the pandemic, for personal protective equipment, and again for essential manufacturing components. Tea clearly meets that same threshold.

If Ottawa truly wants to ease food inflation, maintain the integrity of its trade policy, and demonstrate a meaningful commitment to global equity, it must act now.

Scrap the tea tariff—before a misguided symbolic gesture becomes a needless economic hardship for communities at home and abroad.

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Flight Centre Canada Opens New Flagship Store in Toronto

By
Craig Patterson
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New Flight Centre flagship at Royal Bank Plaza in Toronto. Image: Flight Centre

Flight Centre Canada has unveiled a new flagship store in downtown Toronto, located within the Royal Bank Plaza complex and connected to the city’s underground PATH network. The store replaces the company’s long-standing Yonge and King location and represents a renewed focus on in-person travel retail. The move marks a deliberate investment in visibility and accessibility, aligning the company with thousands of daily office workers and commuters in Canada’s financial capital.

The new space offers flexible consultation zones, digital enhancements, and a modernized layout designed for both quick service and extended trip planning sessions. By situating the flagship in a landmark commercial tower, Flight Centre signals confidence in the ongoing relevance of face-to-face travel service — even as many competitors shift to online-only models.

Celebrating 30 Years of Canadian Operations

The opening of the Royal Bank Plaza store coincides with a milestone anniversary for the brand. Flight Centre entered the Canadian market in 1995 with its first location in Vancouver. Over the past three decades, the brand has become one of Canada’s most recognizable travel retailers. The new flagship space serves not only as a functional retail environment but as a symbol of Flight Centre’s long-standing presence in the country and its continued evolution.

As Canadian travellers increasingly seek a balance of digital convenience and expert guidance, the company’s hybrid model aims to offer the best of both worlds — blending in-store expertise with a strong online and remote consultation infrastructure.

Flight Centre Travel Group’s Global Reach and Brand Portfolio

Flight Centre Canada is part of the Flight Centre Travel Group (FCTG), one of the world’s largest travel agency organizations. Founded in 1982 and headquartered in Brisbane, Australia, FCTG is publicly listed on the Australian Securities Exchange and operates more than 30 brands across leisure, corporate, and wholesale travel sectors in over 20 countries.

Brands under the FCTG umbrella include Flight Centre for general leisure travel, Corporate Traveller for small- to mid-sized business clients, FCM for large enterprise travel management, Travel Associates for premium travel services, and Discova for destination management. Other specialized services include StudentUniverse for youth travel and Travel Money Oz for foreign exchange. The group employs over 10,000 people globally.

Former Flight Centre flagship at 55 Yonge Street in Toronto. The building will be demolished for a new tower. Image: Apple Maps

A Canadian Leader in Leisure and Corporate Travel

In Canada, Flight Centre has established itself as a major player in both the leisure and business travel segments. Its retail operations offer personalized vacation planning, airfare and hotel booking, cruises, insurance, and group travel services. Canadian consumers have long responded to the brand’s combination of bundled value, promotional offers, and trained travel advisors who work directly with clients to tailor their experiences.

Beyond consumer travel, the company also manages business travel through two specialized divisions. Corporate Traveller Canada supports SMEs with cost-effective, streamlined travel planning, while FCM Travel Canada handles complex itineraries and policy management for large companies, government bodies, and NGOs. Both divisions have become vital components of Flight Centre’s recovery and expansion following the pandemic.

Resilience and Recovery Post-COVID-19

The global pandemic presented one of the most significant challenges in the company’s history. With borders closed and flights grounded, Flight Centre was forced to temporarily shut down or consolidate retail locations and furlough a portion of its workforce. However, the company responded by adapting quickly to changing travel conditions.

Flight Centre Canada pivoted its marketing to emphasize domestic travel and safety-first destinations, implemented flexible booking policies, and expanded virtual consultation options. These efforts enabled the brand to remain visible and relevant during the downturn and laid the groundwork for a strong comeback once travel restrictions began to lift.

By 2024, the company’s Canadian operations had stabilized, and demand for international travel surged alongside a resurgence in corporate travel. The re-opening of global markets allowed Flight Centre to reposition itself as a dependable partner for both business and leisure customers navigating complex travel environments.

Embracing Innovation and Sustainability

Flight Centre Travel Group continues to invest in innovation across its global footprint, including in Canada. The company is deploying artificial intelligence and data analytics to enhance customer service, optimize pricing, and personalize itineraries. These tools are helping consultants provide more relevant recommendations while also improving operational efficiency.

Sustainability is another focus area. FCTG has adopted a range of environmental and social responsibility initiatives, including carbon offset programs, support for community-based tourism through Discova, and partnerships with eco-conscious suppliers. Diversity, equity, and inclusion remain priorities across its workforce in Canada and abroad, as the company seeks to align its operations with broader societal expectations.

Hybrid Retail Model Positions Company for Future Growth

As the broader travel industry leans into digital transformation, Flight Centre Canada is pursuing a hybrid retail model that emphasizes flexibility, customer service, and choice. While many brands have scaled back physical stores, Flight Centre continues to see value in high-traffic retail locations, particularly those that serve corporate environments and urban commuters.

In tandem, the company is building out its remote agent networks, enabling travel advisors to work from home or service clients through video and phone consultations. This mixed approach is designed to capture a wide range of consumer preferences while reducing overhead and improving agility.

The Royal Bank Plaza location exemplifies this philosophy. It serves as both a high-profile brand showcase and a functional space that supports personalized travel planning in real time. The company’s updated global tagline, Your Centre for Travel, reflects this broader strategy — positioning Flight Centre not just as a place to book flights, but as a full-service travel solutions provider.

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Canada’s Food Policy Council Risks Stalling Without Government Support

By
Retail Insider
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People shop at a Loblaws store in Toronto. A collaborative approach to ending food insecurity needs a serious commitment from the federal government. THE CANADIAN PRESS/Nathan Denette

By Charles Z. Levkoe, Jill K. Clark, Johanna Wilkes, and Peter Andree

The dismantling of government institutions and an erosion of transparent governance in the United States are cause for serious concern.

The situation south of the border has underscored the value of democracy and governance mechanisms that bolster civil society and the engagement of an array of stakeholders — from Indigenous communities to private sector organizations — in the political process.

In Canada, people and organizations working in the food system have a long history of engaging with government. Their efforts have included building inclusive governance structures that incorporate food producers, harvesters and workers across the food chain.

A major breakthrough came in 2019 when the Canadian government launched the Food Policy for Canada “as a framework to align and co-ordinate federal food-related initiatives and address critical challenges facing Canada’s food systems to improve social, health, environmental and economic outcomes.”

The multi-stakeholder Canadian Food Policy Advisory Council was subsequently created. Initially described as a promising example of government engagement, both the food policy and the advisory council have yet to reach their full potential.

Talking to stakeholders

Our research demonstrates these types of initiatives must be prioritized and adequately resourced to ensure collaborative government initiatives survive.

As four academics studying effective and participatory approaches to building healthy, equitable and sustainable food systems, our study of the Food Policy Advisory Council aimed to understand its development, function, potential value and impact.

We spoke to 13 inaugural members to ask if and how the council — which includes farmers, grocery executives and food system academics — has enabled productive engagement with government and other food systems decision-makers. We also drew on written feedback from government staff about our preliminary research findings.

A with short grey hair woman picks tomatoes in a greenhouse.
Gov. Gen. Mary Simon picks tomatoes at the Community Harvest Farm in Ottawa in September 2023. THE CANADIAN PRESS/Justin Tang

Food systems in Canada

Recent reports show that more than 20 per cent of Canadians experience food insecurity, and of those almost 25 per cent are children. At the same time, nearly half of all food is wasted with more than 40 per cent of this waste deemed avoidable.

Furthermore, the way food is produced and consumed fuels the climate crisis and is linked to an estimated one-third of greenhouse gas emissions globally, contributing to floods, fires, heat waves and drought.

In 2018, diverse stakeholders agreed that an advisory group was needed to find integrated solutions to complex food issues. They looked to food policy councils as models for collaboration that would include multi-sectoral representatives from across food systems.

Advocates of the Food Policy Advisory Council hoped this new collaborative initiative could offer guidance and build consensus on a range of different issues. Established in 2021, the council has advised the Canadian government on issues like food waste, agricultural sustainability, food insecurity and the design of a National School Food Program.

Insights from council members

Our conversations with Food Policy Advisory Council members revealed a shared belief in the need for a diverse group of food systems advocates to advise the government on food-related programs and policies. Members were deeply committed to the council’s process and brought diverse knowledge and experiences to the table.

Nonetheless, they pointed to flaws in the structure and function of the council. For example, representation and compensation, leading to inequities among members and their respective communities, were points of concern for many participants.

Furthermore, Indigenous representation was limited and members who stepped down were not replaced. Some participants noted tensions between the desire to openly engage with their constituencies and confidentiality agreements with the government about the council’s work.

Our research points to the need to involve Food Policy Advisory Council members more deeply in decision-making, and to establish a more transparent feedback process. Though a new round of council recruitment was launched in 2023 and many nominations were submitted, no new members have been selected. Furthermore, the Food Policy Advisory Council has not met since fall of 2023.

Wooden shelves lined with canned goods.
Canned products sit on shelves at a food bank in Ottawa in October 2022. THE CANADIAN PRESS/Adrian Wyld

Collaborative governance

Despite these challenges, the council can still play a critical role in supporting the Food Policy For Canada and food systems more broadly.

In addition, outcomes from participatory governance have the potential to ensure government accountability, to fuel new and innovative ideas and to build valuable relationships across sectors, scales and places. In this moment of crisis and uncertainty, this type of collaborative governance is essential.

For this to happen, the Food Policy Advisory Council needs to be prioritized by its members and by the Liberal government, and provided with adequate resources and capacity to ensure its ongoing success. The new minister of agriculture and agri-Food, Heath MacDonald, will ultimately decide the Food Policy Advisory Council’s fate.

As American democratic institutions falter and our strongest ally imposes wide-ranging tariffs and threatens Canadian sovereignty, the federal government must preserve and enhance participatory governance entities like the Canadian Food Policy Advisory Council.

It’s an innovative space for finding solutions with civil society, the private sector and Indigenous communities that could ultimately strengthen both democracy and food systems in Canada.

About the Authors:

  • Charles Z. Levkoe is the Canada Research Chair in Equitable and Sustainable Food Systems, Lakehead University
  • Jill K. Clark is a Professor of Public Affairs
  • Johanna Wilkes is a Research Assistant, Food Systems, Lakehead University
  • Peter Andree is a Professor of Political Science, Carleton University

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This article originally appeared in The Conversation.

Canadian retail sales near $70 billion in March: Statistics Canada

By
Mario Toneguzzi
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Photo by Borko Manigoda
Photo by Borko Manigoda

Retail sales increased 0.8% to $69.8 billion in March. Sales were up in six of nine subsectors and were led by increases at motor vehicle and parts dealers, according to a report released Friday by Statistics Canada.

Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were up 0.2% in March. In volume terms, retail sales increased 0.9% in March, said the federal agency.

Retail sales were up 1.2% in the first quarter of 2025, marking a fourth consecutive quarterly increase. In volume terms, retail sales increased 0.2% in the first quarter, it added.

“The largest increase in retail sales in March was observed at motor vehicle and parts dealers (+4.8%), up for the first time in three months. All four store types within this subsector posted gains, with higher sales at new car dealers (+5.2%) driving the increase,” said Statistics Canada.

Photo by Andrea Piacquadio
Photo by Andrea Piacquadio

“Sales at gasoline stations and fuel vendors (-6.5%) decreased in March after five consecutive monthly increases. In volume terms, sales at gasoline stations and fuel vendors decreased 2.6%. Gasoline prices fell 1.6% on an unadjusted year-over-year basis in March, stemming from lower crude oil prices amid concerns of slowing global oil demand and slowing economic growth related to the threat of tariffs.”

Core retail sales increased 0.2% in March, posting their second consecutive monthly increase. The gain was led by higher sales at building material and garden equipment and supplies dealers (+2.6%), followed by clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers (+2.6%), added StatsCan.

“Higher sales were also recorded at furniture, home furnishings, electronics and appliances retailers, which posted an increase of 2.1% in March. The largest decrease to core retail sales in March came from general merchandise retailers (-2.7%),” it said.

Statistics Canada said retail sales increased in eight provinces in March. The largest provincial increase in dollar terms was observed in Quebec (+1.6%). In the Montréal census metropolitan area (CMA), sales were up 3.1%. In Ontario, retail sales increased 0.6% in March, led by higher sales at motor vehicle and parts dealers. In the CMA of Toronto, retail sales were down 1.0%. The largest provincial decrease in retail sales in March was observed in Manitoba (-1.6%). This decrease was led by lower sales at gasoline stations and fuel vendors.

“On a seasonally adjusted basis, retail e-commerce decreased 2.1% to $4.2 billion in March, accounting for 6.0% of total retail trade, compared with 6.2% in February,” explained Statistics Canada.

“Statistics Canada is providing an advance estimate of retail sales, which suggests that sales increased 0.5% in April. Owing to its early nature, this figure will be revised. This unofficial estimate was calculated based on responses received from 60.2% of companies surveyed. The average final response rate for the survey over the previous 12 months was 91.0%.”

Andrew Grantham, Senior Economist, CIBC Capital Markets, said Canadian consumers haven’t tightened the purse strings much it seems in the face of tariff uncertainty.

“However, the advance estimate for April suggested that overall sales rose by a further 0.5%, which is a little firmer than we would have expected given the recent weakening in the labour market. Overall, consumer spending growth does appear to have slowed relative to the second half of last year, but not worryingly so as yet,” he said.

Marc Ercolao, Economist, TD Economics, said March retail sales data came in a bit warmer than expected.

“Consumers pulled forward their auto purchases, something we expected as buyers front-ran counter tariffs imposed in April. The surprise was in the 5 of 7 non-auto retail components that advanced on the month, which may represent stockpiling of non-discretionary items ahead of other incoming tariffs,” he said.


“Expectations for another solid month of sales growth in April may offer some positive momentum for total consumer spending into the second quarter, though we expect spending weakness to dominate the broader trend. Canadian consumer confidence has nosedived in recent months and the labour market has started to shed jobs. Against this backdrop, we expect consumers to stay relatively hesitant until confidence and clarity are restored, which we think will occur in the later stages of this year. A few more Bank of Canada rate cuts in the coming months may help soften the blow.”

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Laser Clinics Canada Opens in Vaughan Amid National Expansion

By
Craig Patterson
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Opening of Laser Clinics Vaughan Mills. Image: Laser Clinics

Laser Clinics Canada is marking another milestone in its rapid national expansion with the opening of a new location at Vaughan Mills, one of the country’s busiest shopping centres. The clinic opens its doors to the public on May 21, becoming the eighth Canadian location for the Australia-founded medical aesthetics brand.

“Vaughan Mills was the obvious next step for us,” said Toby Milton, Managing Director of Laser Clinics Canada, in an interview. “From a mall analytics perspective, it’s a perfect location — high foot traffic, strong co-tenancy, and an ideal demographic fit. We’re really excited to open.”

Toby Milton, Managing Director of Laser Clinics Canada

Laser Clinics entered the Canadian market in early 2022, opening its first clinic at Hillcrest Mall in Richmond Hill, Ontario. Since then, the brand has expanded across the Greater Toronto Area, as well as Ottawa’s Rideau Centre, with plans to continue that momentum in the years ahead.

“We currently have seven clinics across Ontario, and Vaughan Mills will be our eighth,” said Milton. “We plan to grow to around 40 locations nationwide. We see tremendous opportunity across Ontario, but also westward into Alberta and British Columbia, as well as the Atlantic provinces. We really do see this as a coast-to-coast brand in time.”

Global Expertise, Local Delivery

Founded in Sydney, Australia in 2008, Laser Clinics quickly became one of the leading global brands in the medical aesthetics space. The company offers a wide range of services, including laser hair removal, advanced skin treatments, and cosmetic injectables — all administered by trained professionals such as doctors and registered nurses. With over 200 clinics worldwide, the brand is backed by KKR, one of the world’s largest private equity firms.

“Globally, we’re known as leaders in laser hair removal, skin treatments, and cosmetic injectables,” said Milton. “And we bring that same level of expertise and care to every Canadian location.”

Each Canadian clinic, including the new Vaughan Mills site, provides a consistent customer experience and access to advanced medical-grade technologies. Services include popular treatments such as HydraFacials, LED light therapy, microdermabrasion, and cosmetic injectables like anti-wrinkle injections and dermal fillers.

Tailored Services for a Broad Demographic

Despite the clinical nature of its offerings, Laser Clinics aims to make medical aesthetics accessible and affordable.

“All of our services are transparently priced and competitively positioned,” said Milton. “We also offer free consultations so clients can understand what treatment is best suited for them.”

The demographic of Laser Clinics’ customer base is remarkably broad. “We see both men and women, and clients of all ages,” said Milton. “There really is something for everyone. Whether it’s laser hair removal, skin rejuvenation, or injectables, we tailor our services to meet individual needs.”

Toby Milton in the new Vaughan location. Image supplied

Vaughan Mills: Strategic Retail Placement

The new Vaughan Mills clinic is strategically located in a high-traffic section of the centre, alongside tenants such as Shoppers Drug Mart, Puma, Specsavers, and Mountain Warehouse. The surrounding co-tenancy was a strong factor in the decision to open at the site.

“We’re excited about the co-tenancy and the energy of that part of the mall,” said Milton. “It offers the kind of exposure and accessibility we look for.”

With high visibility and a built-in customer base, the location offers Laser Clinics a prime opportunity to connect with new clients.

Technology and Innovation at the Core

Laser Clinics continues to invest in cutting-edge technology and treatment innovation. While Vaughan Mills will offer the brand’s core suite of services, the company is always evaluating new product developments to enhance its offerings.

“We’re constantly on the lookout for new treatments, especially in the skin category,” said Milton. “From LED therapy to HydraFacials, we offer the latest non-surgical options. Innovation is central to what we do.”

In Canada, the brand has already introduced specialized treatments like Melanopro reducing the appearance of hyperpigmentation and injectables targeting hyperhidrosis. All treatments are guided by Laser Clinics’ global Medical Advisory Committee, ensuring safety and effectiveness.

Franchise Model and Real Estate Strategy

The company is actively seeking franchisees across Canada. On the real estate front, shopping centres remain the brand’s primary focus — for now.

“We really look for high-footfall environments,” said Milton. “Right now, we’re primarily in enclosed malls because of the consistent year-round traffic. But we’re absolutely open to streetfront opportunities if the right space becomes available.”

The company is targeting areas with a combination of high foot traffic and a lack of similar services. “We look for white space opportunities,” added Milton. “Where there’s strong demand and limited competition, that’s where we want to be.”

A Vision for Nationwide Presence

With the Vaughan Mills clinic opening this May, Laser Clinics Canada is only accelerating its national expansion.

“We’re aiming for 30 more clinics in the next few years, and we’ll see where that takes us,” said Milton. “The demand is there, and we’re ready to meet it.”

The company’s strategy is as much about accessibility as it is about beauty. “Our mission is to democratize medical aesthetics,” Milton emphasized. “These treatments used to be exclusive or expensive. We’re here to change that — to offer safe, effective, and affordable treatments to Canadians coast to coast.”

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World’s Largest Global Cosmetic Clinics Company Enters Canadian Market with 1st Location and Plans for More

ICSC Honours John Crombie with Distinguished Service Award

By
Craig Patterson
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John Crombie talked with students at an ICSC LAS VEGAS roundtable event in 2024. Photo courtesy of John Crombie

John Crombie, Executive Managing Director at Cushman & Wakefield, has been awarded the prestigious Trustees’ Distinguished Service Award by the ICSC. The honour is the highest level of volunteer recognition granted by the ICSC Board of Trustees and acknowledges individuals whose long-standing commitment has left a significant and lasting impact on the marketplaces industry. Crombie is the sole Canadian recipient of the award this year.

Crombie’s journey in retail real estate began somewhat unexpectedly in 1999, when he attended his first ICSC event in Whistler, British Columbia. At the time, he was branch manager at Royal LePage in Edmonton, Alberta, transitioning from over a decade in office sector brokerage and property management. That first conference, he noted, was a turning point.

“My boss thought I knew something about retail, and I didn’t know what I was getting into,” Crombie said. “But I could see the business opportunities were abundant. It’s something I look back on as a milestone in my life.”

From that moment, Crombie became increasingly involved in ICSC activities. He joined one committee, which led to another, and eventually became a fixture in the organization’s leadership. He has since served on multiple ICSC committees and has become a well-known speaker at industry events.

“I met some amazing people and found that retail was much more in-depth than other disciplines. ICSC allowed me to flourish. I started sharpening my skills and expertise and eventually became known as the go-to retail person.”

Pioneering Research and Industry Excellence

Crombie’s analytical acumen led him to join the ICSC Canadian Research Group and later, the North American Research Group. His passion for data and insights culminated in receiving the ICSC Gold Medallion Award in 2016, which recognizes excellence in retail real estate research.

Over the past decade, Crombie chaired or co-chaired the ICSC@Canada conference four times, contributing to the event’s prominence and value within the industry. He also served as a director on the Canada Marketplace Council and was actively involved in ICSC’s diversity, equity, and inclusion (DEI) initiatives, helping guide efforts to broaden representation and opportunity within the sector.

Empowering the Next Generation

While Crombie has taken on various leadership roles, one of his most impactful contributions has been through mentoring. He has consistently dedicated time at ICSC events to support students and early-career professionals. Whether guiding them through networking opportunities or offering career advice, his commitment to mentorship has been unwavering.

“Helping that next generation pursue a career in retail real estate remains a great pleasure,” Crombie noted. “It’s a way to give back, and I’m delighted I have those opportunities.”

A quarter century after John Crombie’s first ICSC event — in 1999 in Whistler, British Columbia — he was still attending, manning the Cushman & Wakefield booth at ICSC@WHISTLER in January 2024. Photo courtesy of John Crombie

His dedication extended to ICSC Foundation Canada, where he served on the board for six years, stepping down in 2023. During that tenure, he played a leading role in fundraising efforts during the COVID-19 pandemic, chaired the Foundation’s nominating committee, and helped shape strategic goals.

ICSC Foundation president Lauri Novick remarked on Crombie’s broad contributions: “John was incredibly passionate about the mission of the Foundation and took it upon himself to volunteer for every opportunity we had, whether it was meeting with students and advising them on a potential career or how to land an internship or helping to plot the Foundation’s strategic goals. He was a leader but also a doer. He’d roll up his sleeves and get to work.”

Continuing to Shape Canada’s Retail Landscape

Today, Crombie leads Cushman & Wakefield’s Canadian retail services platform, with a focus on strengthening and expanding the firm’s presence in key markets. He is also managing a significant national assignment involving the disposition of surplus HSBC Bank Canada branches following the financial institution’s acquisition by RBC.

Crombie’s role in this major transition reflects his trusted expertise in navigating complex retail and property scenarios, underscoring his influence across both brokerage and corporate real estate strategy.

Cushman & Wakefield’s John Crombie prepares to take the plunge in Jackson Hole, Wyoming. Photo courtesy of John Crombie

A Lifelong Commitment to Excellence

Outside his professional commitments, Crombie continues to pursue his lifelong passions. He is a skilled guitarist and plays in a band called the Warehouse Boys, which covers artists ranging from Bob Dylan and Neil Young to Blue Rodeo and ZZ Top. He also maintains a balance between work and family, alongside his wife Judith, and their two children, Andy and Anne.

“When you love something enough, you give everything to it,” Crombie said. “It’s easy to be dedicated and persevere when you really like what you are doing in both life and work. It’s what I did with guitar playing and skiing, and it’s what I did with ICSC.”

From scaling snowy slopes to climbing the ranks of Canada’s retail real estate elite, Crombie’s dedication over decades has reshaped the industry. The ICSC Trustees’ Distinguished Service Award is a fitting tribute to a career rooted in curiosity, service, and passion for the marketplace community.

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Icebug Takes Over Canadian Sales and Operations

By
Craig Patterson
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Photo: Icebug

Swedish traction footwear brand Icebug has announced a strategic shift in its North American operations, with the company set to take direct control of its Canadian sales and customer service beginning in June 2025. The move marks a significant milestone in Icebug’s expansion strategy as the brand strengthens ties with the Canadian market, which has long demonstrated a strong appetite for high-performance, grip-oriented footwear solutions.

Previously, the brand’s Canadian operations were managed by Alberta-based Rock Gear Distribution (RGD). Icebug’s decision to internalize operations is aimed at building closer relationships with both new and existing customers across the country.

“We are excited to deepen our engagement with the Canadian community,” said Andreas Håkansson, Chief Commercial Officer at Icebug. “Our goal is to build even closer ties to a market where our products, such as studded winter boots, have potential to play an important role in people’s lives helping them stay active 365 days a year.”

A Continued Partnership with Rock Gear Distribution

Despite the operational change, Icebug emphasized that its long-standing Canadian partner, Rock Gear Distribution, will remain closely involved in supporting the brand’s presence in Canada. RGD, which also owns spry, one of Canada’s top specialty running stores, will work alongside Icebug to further grow awareness and distribution.

“We look forward to working together in new and exciting ways,” said Ian Lowe-Wylde, President of Rock Gear Distribution. “This transition represents a shared vision for delivering quality products and outstanding customer experiences.”

The evolution of this partnership underscores a mutual commitment to bringing Icebug’s innovative footwear to more Canadians—particularly those seeking reliable solutions for winter walking, trail running, and all-season outdoor pursuits.

Photo: Icebug

Building on a Swedish Legacy of Grip and Sustainability

Founded in 2001 by a mother-son duo in Jonsered, just outside Gothenburg, Sweden, Icebug emerged from a simple but serious frustration: the lack of safe, reliable footwear for icy and slippery conditions. In the two decades since, the brand has evolved into a global leader in traction footwear and sustainable design.

Icebug remains privately owned and has become known for engineering products that perform in the harshest of conditions—while also setting a high bar for environmental accountability. The brand’s design philosophy is deeply tied to function and purpose, with the goal of enabling year-round outdoor activity without compromise.

Cutting-Edge Traction Technologies

Icebug’s success stems largely from its proprietary traction technologies, which are widely used by outdoor athletes, winter walkers, and trail runners. These include:

  • BUGrip®: A hallmark of the brand, this sole system incorporates 13–19 carbide steel studs that dynamically adapt to varying surfaces, retracting or protruding depending on the pressure applied by the foot. It offers unmatched grip on icy terrain.
  • RB9X™: A high-friction rubber compound that provides outstanding traction on both wet and dry surfaces, ideal for trail and mountain runners.
  • OLX: Found in Icebug’s off-trail running and orienteering shoes, OLX features fixed steel studs for extreme grip in rugged conditions.
  • Nordic Traction™: Specifically formulated for the Nordic winter, this rubber compound maintains reliable grip even in sub-zero temperatures.
  • Biosole™: A sustainability-driven outsole made from 90% non-oil-based materials, including 62% natural rubber, offering traction across all seasons with reduced environmental impact.

Sustainability as a Core Value

Icebug’s commitment to sustainability is central to its identity. The company became the first climate-positive outdoor footwear brand in 2019, meaning it offsets more emissions than it produces.

Recycled and natural materials are used throughout its products. Examples include PET bottles, recycled wool scraps, and even algae-based foams. Icebug’s manufacturing processes incorporate solution dyeing, reducing water usage by up to 45% compared to conventional techniques.

Customers can track the environmental impact of each product through Icebug’s “Follow the Footprints” transparency initiative, which details everything from sourcing to carbon footprint.

The brand was certified as a B Corporation in October 2022, earning a score of 93.9 on the B Impact Assessment. Icebug is also a member of 1% for the Planet, committing a portion of its revenue to verified environmental initiatives.

E-Commerce Expansion and Future Plans in Canada

In November 2024, Icebug launched its Canadian e-commerce platform, making the brand’s complete collection of traction footwear available nationwide. The direct-to-consumer offering allows Canadians in urban and remote areas alike to access shoes designed to support safe, active lifestyles in all conditions.

This newly announced operational transition aligns with the company’s long-term ambitions in Canada. With climate uncertainty and interest in outdoor activity both on the rise, Icebug’s value proposition—footwear that helps prevent slips and falls while supporting a sustainable planet—resonates more than ever.

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Icebug Launches Canadian E-Commerce Platform

Trips to Canada declining: Statistics Canada

By
Mario Toneguzzi
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Photo by Timur Weber
Photo by Timur Weber

This isn’t good news for retailers that rely on tourism. In March, the number of trips to Canada by US residents decreased 6.6% year over year to 1.2 million trips. The number of trips to Canada by overseas residents fell 17.4%, marking a sixth consecutive month of year-over-year declines, reported Statistics Canada on Thursday.

The number of Canadian-resident return trips from abroad (United States and overseas combined) was also down in March, declining 14.9% compared with the same month in 2024, it said.

“In March, US resident trips to Canada (1.2 million) declined year over year for a second consecutive month, down 6.6% from March 2024. Arrivals by automobile (881,900) were down 8.7% year over year in March 2025, marking a second consecutive month of year-over-year declines. Over half (56.3%) of these arrivals were same-day trips. Meanwhile, air arrivals (321,200) were up 2.2% from March 2024. Other US residents disembarked in Canada from cruise ships (1,400) in March, marking the start of the 2025 cruise ship season,” stated Statistics Canada.

“In March, 286,600 overseas residents arrived in Canada, marking a 17.4% decline and the sixth consecutive month of year-over-year decreases. The majority (87.7%) of overseas-resident arrivals in March were by air. The year-over-year decline in overseas-resident arrivals in March was primarily attributable to fewer arrivals from the Americas (excluding the United States) (-19.5%), Europe (-18.6%) and Asia (-14.4%). Europe is Canada’s largest source market for overseas travellers, followed by Asia and the Americas (excluding the United States). In March, the top three countries of residence for overseas visitors were the United Kingdom (32,800), Mexico (28,500) and France (25,100), accounting for 30.1% of all overseas arrivals in Canada.”

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DAVIDsTEA Rebuilds with Canadian Roots and Fresh Energy

By
Craig Patterson
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Photo: DavidsTea

With its roots in Canadian entrepreneurship and a bold vision for tea culture, DAVIDsTEA is once again steeping success. The Montreal-based retailer, once a fast-growing darling with over 240 stores across North America, is now navigating a new chapter under the leadership of CEO Sarah Segal, daughter of the late co-founder Herschel Segal. 

In an interview, Sarah Segal shared the company’s revitalized approach to product development, community engagement, and thoughtful retail expansion.

Sarah Segal

“DAVIDsTEA was never just about tea—it was about creating something new, energetic, and inclusive,” Segal explained. The company’s founding story is as vibrant as its teal branding. Herschel Segal, the renowned Canadian retail entrepreneur behind Le Château (who recently passed), partnered with his nephew David Segal to build a brand that would challenge the tea industry’s status quo.

“I always say we were the ‘fashion tea company,’” said Segal. “The early approach mirrored the fashion world—frequent new drops, seasonal excitement, and a strong focus on design.”

The first DAVIDsTEA store, opened in 2008, was a modest 300-square-foot space carved out of a Le Château storefront on Queen Street in Toronto. “From day one, the energy was incredible,” Segal recalled. “It immediately resonated with people.”

Rapid Growth, Then Reinvention

After explosive expansion, DAVIDsTEA went public in 2015. But by 2020, the company faced a major crossroads. Amid the pandemic, DAVIDsTEA filed for creditor protection and closed nearly all of its physical stores—including all U.S. locations. “It was a reset,” said Segal. “We had to rethink everything.”

The company pivoted swiftly to e-commerce and select wholesale partnerships, including an innovative shop-in-shop concept with Rexall pharmacies across Canada. “Our partnership with Rexall has been fantastic,” said Segal. “It’s a curated selection that introduces new customers to our brand in a welcoming setting.”

Manoomin tea, image: DavidsTea

Today’s Retail Footprint—and What’s Ahead

DAVIDsTEA currently operates 20 stores in Canada, up from 18 at the end of 2020. Two new stores opened in the past year, and more are on the horizon.

“We’re evaluating new opportunities but doing so strategically,” Segal said. “It’s about re-entering the communities where we had strong engagement and seeing how consumers shop today.”

That includes leveraging e-commerce, which remains a key channel for the brand. “We don’t obsess over the online vs. in-store split,” she explained. “Instead, we focus on being present wherever customers want to find us—whether that’s in a store, online, or through grocery retail.”

Innovation Through Blends and Origins

If there’s one area where Segal lights up most, it’s product development. “That’s what gets me going,” she said with a smile. “We launch over 100 new products a year. It’s about discovery, seasonality, and fun.”

DAVIDsTEA’s innovation isn’t limited to adding flavours—it also includes exploring new origins, health benefits, and functional blends. “We’ve been investing in matcha for over 15 years,” Segal noted. “In fact, we’re about to be onsite for a harvest in Japan.”

The product pipeline now includes teas aimed at wellness, immunity, sleep, women’s health, and energy. “Mighty Aphrodite, our women’s health blend, sold out three times,” she said. “We also launched probiotic teas like Vanilla Parfait. We’re responding to the real needs of customers in fun, accessible ways.”

Proudly Canadian, Globally Minded

Throughout the conversation, Segal returned often to the company’s Canadian roots—not as a marketing gimmick, but as a cultural anchor. “We’ve always been proudly Canadian,” she said. “Our headquarters and distribution centre are still in the same three-block radius in Montreal. And our team reflects Canada’s multicultural, multilingual spirit.”

Yet despite the local focus, DAVIDsTEA remains committed to serving customers across North America. “We still ship to the U.S. and have loyal customers there,” Segal added. “The demand for tea is growing everywhere.”

That’s good news for DAVIDsTEA, which views tea as more than a beverage—it’s a lifestyle. “We’ve seen interest grow as people reduce alcohol and caffeine or look for better sleep and anxiety relief,” she said. “Tea can play a role in all of that.”

DavidsTea at CF Pacific Centre in Vancouver. Photo: TripAdvisor

The Colour of Calm

The brand’s now-iconic teal hue, soft and inviting, wasn’t chosen at random. “My father actually saw the colour in a Ryerson fashion program’s student project,” Segal said. “There was science behind it—how it evoked calm and positivity. That became our signature.”

This blend of youthful vibrancy and emotional resonance became central to DAVIDsTEA’s appeal. “We wanted to be approachable, never intimidating,” she added. “Tea can be complex, so our design and tone were rooted in friendliness and warmth—very Canadian values.”

Giving Back, One Cup at a Time

Beyond commerce, DAVIDsTEA has made social impact part of its mission. “For every transaction, we donate a cup of tea to someone in need,” Segal shared. “It could be a teacher, a nurse, a patient—it’s part of how we stay connected to our communities.”

 In May, for example, DAVIDsTEA is offering free tea to nurses in honour of their service. “It’s small in the moment, but when you zoom out and realize we’re on track to donate three million cups of tea—it’s powerful,” said Segal.

The late Herschel Segal. Image: DavidsTea

Learning from the Pandemic

The pandemic forced the company to become more agile. “We had to change how we worked, how we delivered products, how we bought them,” Segal said. “We leaned heavily into listening mode. Our customers told us what they needed—and we acted on it.”

That included everything from building a digital-first supply chain to rethinking store placement. “Even in a city like Toronto, people’s movement patterns have changed. We’re studying that closely to determine how many stores are needed to truly serve an area.”

The Road Ahead: Brand Reconnection and Tea’s Rise

So what does the future hold?

“We’re in a period of reconnection,” Segal said. “People are rediscovering DAVIDsTEA—and tea in general. Our goal is to remain a platform for that discovery and continue offering fun, natural, and innovative products that fit into people’s lives.”

The brand is also exploring expansion opportunities—both online and through physical retail—with a measured, customer-first approach.

“As demand for tea grows, we’re ready,” said Segal. “We’ve always been passionate about this space. Now more people are joining that journey—and we’re excited to welcome them.”

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