Walmart Canada to match donations collected in Christmas pots placed in its stores up to $100,000 (CNW Group/The Salvation Army)
In collaboration with Walmart Canada, the 15th annual “Fill the Kettle Day” by the Salvation Army will play an instrumental role in ensuring the immediate needs of struggling Canadians are met during the festive season.
During Fill the Kettle Day on Saturday, December 21, Walmart Canada will match donations made by individuals to Salvation Army Christmas kettles in participating Walmart Canada stores nationwide, up to a maximum of $100,000.
John Murray
“Every day, more Canadians are struggling with tough decisions,” said Lieut.-Colonel John Murray, territorial secretary for communications. “A recent survey by The Salvation Army found that one in four parents ate less so their children or family members could eat. People across the country are facing impossible choices. With generous donors, supporters and partners such as Walmart Canada, The Salvation Army can be their answer and give hope to vulnerable people when it matters most.”
Since 2007, Walmart Canada and its customers have contributed over $44 million to The Salvation Army. This holiday season, Walmart Canada has already donated more than $55,000 to CTV Toy Mountain in Toronto, Ottawa and Winnipeg, assisting The Salvation Army in procuring new toys for distribution to children in need this Christmas, said the retailer.
Rob Nicol
“Walmart Canada takes great pride in helping people live better, which is why we’re very proud to support The Salvation Army every year,” said Rob Nicol, vice president communications and corporate affairs, Walmart Canada. “The Salvation Army does an incredible job bringing Christmas cheer and hope to Canadians in need. Fill the Kettle Day will get everyone in the giving spirit to help The Salvation Army hit their fundraising goal this holiday season.”
With a national fundraising goal of $22 million, the Christmas Kettle Campaign supports programs and services in 400 communities across the country. Last year, more than three million visits were made to The Salvation Army for assistance, said a news release.
When you donate to a Christmas kettle, funds raised stay in the local community to give help and hope at Christmastime and throughout the year. From substance-use recovery and housing supports to life-skills training and emergency disaster services, Canadians are breaking the cycle of poverty and looking to a future filled with peace and security, it said.
“Your generosity on Fill the Kettle Day will alleviate the daily burdens faced by those striving to make ends meet,” said Lieut.-Colonel Murray. “Together we can provide encouragement to those affected by poverty and help them overcome obstacles and achieve goals.”
The Salvation Army, an international Christian organization, started in Canada in 1882 and has since evolved into one of the country’s largest direct providers of social services. It operates in 400 communities across Canada and more than 130 countries worldwide,.
Bell Media, Canada’s leading media and entertainment company, has partnered with Shopsense AI, the leader in shoppable TV technology, to bring innovative second-screen shopping experiences to millions of Canadian viewers.
This collaboration marks Shopsense’s first expansion outside of the U.S. and the first integration of its powerful Commerce OS into Canadian entertainment programming. The partnership will debut on CTV’s popular daily shows The Good Stuff with Mary Berg andEtalk, said a news release.
Bell Media is now the fifth major media organization to partner with Shopsense since its launch in April, joining an impressive lineup that includes Paramount, Univision, Tastemade, and Nexstar Media Group (The CW), added the release.
Stewart Johnston
“Bell Media is always looking for new and innovative ways to strengthen connections and create an interactive viewing experience for our large and loyal audience,” said Stewart Johnston, SVP, Content and Sales at Bell Media. “Our partnership with Shopsense provides our viewers with a next-level viewing experience, while giving our clients valuable integrated opportunities to engage with consumers.”
The Good Stuff with Mary Berg, a lifestyle series with a strong focus on food, will offer foodie-focused gift guides, host-inspired fashion, and affordable home décor, creating a trendy and hyper-curated marketplace to recreate what viewers are seeing on screen. Meanwhile, Etalk, Canada’s longest running entertainment news program, will introduce a shoppable experience featuring accessible fashion inspired by today’s biggest stars, giving audiences the opportunity to easily recreate their favorite celebrity styles, said the release.
Brands will soon be able to sponsor second-screen experiences during pivotal moments on The Good Stuff with Mary Berg and Etalk, and across both series impressive social media channels, which have a combined reach of over 1.5M followers. A recent eMarketer study found that TV viewers prefer mobile devices to shop for products seen on TV. Engaging living room audiences on the second-screen alongside TV activations offers brands the opportunity to gain incremental time and influence with customers, it said.
Glenn Fishback
“Partnering with Bell Media and launching shoppable TV on CTV is a significant milestone for Shopsense,” said Glenn Fishback, CEO and Co-founder of Shopsense. “Canadians have trusted CTV as a leader in entertainment for years, and this collaboration allows us to enhance their viewing experience while providing innovative solutions for Bell Media’s advertisers.”
Shopsense AI’s Commerce OS offers a comprehensive suite of tools designed to enhance TV shoppability and activate consumers across multiple channels where they engage with content. The platform empowers broadcasters with innovative features like the Shopsense Lens, enabling viewers to use their smartphones to snap images of their screens and shop millions of products powered by proprietary AI. It also includes AI-curated Storefronts for fast online retail store deployment, SEO-optimized tools driving Organic Store Traffic, and Retail Media Ad Units that extend shoppable sponsorships across websites and apps. Additionally, its Shopper Intelligence provides detailed insights into consumer behavior, covering the entire purchase journey from consideration to conversion, explained the release.
“U.S. retailers such as Amazon, Walmart, and Best Buy represent a significant share of Canada’s e-commerce spending. Through the Shopsense AI partnership, Bell Media will gain access to these leading U.S. retailers, as well as prominent Canadian retailers such as Canada Goose, Roots, and SSENSE, expanding opportunities across both markets,” it said.
“Bell Media has plans to scale shoppability across its extensive content library, including award shows, scripted dramas, and unscripted programs, paving the way for immersive, interactive television experiences throughout their portfolio. Bespoke brand partnership opportunities for advertisers will be available through the Bell Media Brand Partnership team around brand inspired collections.”
Photo by Shopsense
Bell Media is Canada’s leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada’s most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada’s cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec’s fast-growing conventional French-language network, Noovo; the country’s leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services.
As a content leader and partner in Sphere Media, Montréal’s Grande Studios, and Dome Productions, one of North America’s leading production facilities providers, Bell Media said it is committed to keeping Canadians entertained and informed.
Shopsense AI unlocks new revenues for media companies, like linear and streaming TV platforms, by making their original content instantly shoppable within their own e-commerce sites and mobile apps. The patent-pending, enterprise SaaS solution allows consumers to easily find and buy AI-curated collections of clothing, home goods, sports gear and other products inspired by what they see on their favorite shows, movies, sports events and livestream broadcasts. Offering a low-lift, no-SDK integration, the Shopsense platform allows publishers to quickly activate second-screen shopping experiences that keep viewers inside their content and commerce ecosystem, driving revenue, engagement, and loyalty.
“Retail leasing tightens as national and international brands expand their physical footprints, driving increased competition for high-quality spaces in top-performing shopping centres,” said the report.
“Demand for retail space in the country’s most productive shopping centres and community strip centres outpaced supply as national and international retailers continued to expand their brick-and-mortar presences. A range of new retail offerings, concepts, and formats have been introduced across the country. Looking ahead to 2025, investment market activity in the retail sector is expected to increase while the retail leasing market stabilizes, supported by a balanced demand-supply dynamic.”
“Construction activity continued to rest below the long-term average due to the high cost of financing and materials and labour shortages. Premium-quality available space became increasingly scarce, particularly in open-air centres.. Retailers continue to lease up space including on the main shopping streets of the country’s downtown areas,” he said.
“However, vacancy remained elevated in older covered malls and in the downtown areas of cities where foot traffic rested below the pre-pandemic peak levels. Stronger leasing fundamentals and rent growth supported healthier performance, investment returns averaged 4.2% for the year ending June 30, 2024, following a three-year period of weaker performance.
“Property values stabilized as occupancy levels increased along with rents. Retail property sales increased by 30% in the first half of 2024 from the same period a year ago, reflecting increased investor confidence levels. Private investment groups acquired retail property at an increased rate while institutional groups remained on the sidelines due to the high cost of capital. Retail owners and managers continue to look for opportunities to drive foot traffic and sales with new restaurant and entertainment offerings.”
Reading said investors have exhibited increased interest in acquiring retail property recently resulting in several significant sales – recent examples include the announced sales of: Galeries Laval a 591,00O regional shopping centre in Montreal, Kitchener Ontario’s 732,000 square foot Fairview Park Mall also a regional centre, and the 784,000 square foot Champlain Place Centre in Dieppe New Brunswick, which is the province’s largest mall.
“Investors continue to look for shopping centres with strong national tenants that generate strong sales results and that are market leaders,” he noted. “Private capital groups have been able to acquire high-quality assets in an environment where competition levels have been relatively low, as institutional buyers have adjusted their portfolio weightings and/or allocated funds to other property types such as industrial and multi-res apartments to offset weakness in the office sector.
“Investment performance has improved, and pricing has stabilized, which has also supported positive investor sentiment. Developers have been reluctant to build new speculative product per se. Development activity has been relatively brisk with owners of retail property looking to add density and/or alternative uses to existing shopping centres including residential. At the same time, investors and developers have acquired retail properties with a view to expansion through retail pads or other improvements. The development of retail space at the foot of newly constructed condominium and rental towers has also been a retail development market driver over the recent past.”
Are grocery-anchored properties still the jewel of this sector?
“The short answer is yes, demand for this kind of product continues to outdistance supply,” explained Reading. “Buyers continue to recognize the benefits of grocery store anchors as a stable, large tenant that will generate foot traffic and benefit the rest of the tenants in the property.
“It will continue, as the grocery sector continues to expand its footprint with several expansions already announced for 2025 – Loblaw has announced its intention to open 50 new stores in 2025, Metro Inc is planning to open a dozen new discount stores in fiscal 2025.
“Grocery anchored centres have outperformed over the past few years, a trend that will continue into 2025. Investors crave stable returns, which grocery anchored centres have provided in the past and have outperformed during periods of economic uncertainty. Quite simple, food is a necessity, and our growing population will require food and other necessities which bodes well for the grocery sector.”
What is the forecast for the retail sector in 2025?
Reading said the outlook for the retail sector is generally positive, despite increased headwinds.
“Retail spending is expected to increase at a modest pace, driven by population growth, positive wage growth trends, lower mortgage rates, modest economic expansion and job growth, and a pick up in housing market activity,” he said.
“As a result, retailer revenues will continue to rise in 2025, albeit at a slower pace than in 2024. Investors will continue to target retail assets that will provide attractive risk-adjusted returns and income growth. Discount, grocery, and other retailers selling necessities will continue to expand.
“Growth will also include niche retailers such as thrift stores and other recycled merchandise operators, services retail, and experiential retailers. International and national retailers will continue to expand in 2025 as well with several expansion announcements already being announced. The generally positive outlook is accompanied with a measure of risk including the negative impacts on the retail sector and spending patterns – these include higher inflation levels as a result of tariff wars, a slower than expected interest rate cutting cycle, weaker than anticipated economic and job market growth, and the negative impacts of geo-political events on business and consumer confidence.”
What is the impact of the low Canadian dollar on the retail sector?
Reading said prices for imported goods and services generally increase (particularly from the US), which reduced the spending power of Canadians. Canada imports close to half of its goods from the US. Prices for domestic goods increase. For example, gasoline is priced in US currency, therefore, gasoline prices will increase.
Food prices will also increase. Canadian consumer spending and balance sheets will suffer. However, wage growth and lower interest rates will offset the impact of a weak Loonie to some extent.
“The retail sector and Canadian consumer have exhibited a significant level of resilience over the recent past, despite several headwinds. I anticipate this will continue over the near term, especially given the comfort-level Canadian consumers have exhibited with record high levels of consumer debt,” added Reading.
A survey by Lightspeed Commerce captures unique insights into how Canadians are navigating economic pressures while continuing to spread holiday cheer.
The survey also sheds light on how generational differences influence shopping habits.
Some of the key findings:
Social Media Shopping Boom: Over one-third (35%) of Gen Z and young Millennial Canadian shoppers use TikTok as their top shopping resource, highlighting a major shift in retail engagement;
Instant Gratification over Costs: 55% of Gen Z and young Millennials are willing to pay above the sticker price to avoid waiting for restocks;
Retail Tipping Trends: 53% of Canadians are willing to tip retail stafffor exceptional service, with this figurerising to 83% among Gen Z shoppers. This demonstrates a significant willingness to show appreciation, despite economic pressures;
Budget Considerations: Due to tighter budgets, 38% of Canadians have been more cautious with their spending ahead of the holidays, with 69% indicating that discounts are very or extremely important in their purchasing decisions;
Holiday Shopping Motivators: The motivators for Canadians to spend with retail brands are crystal clear: free shipping or delivery (51%) and enticing special offers or sales (57%).
John Shapiro
John Shapiro, Chief Product and Technology Officer at Lightspeed Commerce, said consumer behaviour today is influenced by several overlapping factors.
“Brick-and-mortar stores remain central to shopping habits, with 64% of Canadian shoppers reporting that they do the majority of their shopping in-store. This preference cuts across age, gender, and income levels, demonstrating that in-person shopping provides experiences and immediacy that online channels cannot fully replicate.
“That said, the role of online shopping remains a critical factor for businesses. It’s where most shoppers discover brands and make their buying decisions, even prior to going in-store.
Younger demographics, especially Gen Z and Millennials (18-34), are shifting the landscape with their reliance on social platforms such as TikTok (37%) and Instagram (32%) to discover new brands and products.
“Affordability is the leading driver of purchasing decisions, with 72% of respondents saying it’s the most important factor in buying apparel, followed by quality (65%). Sustainability and local sourcing, while often mentioned, play a secondary role in most sectors. For instance, 74% of respondents value shopping local, but the primary categories they focus on are food and beverages (71%) and gifts (32%).”
Shapiro said holiday spending this year reflects a blend of caution and tradition. Many shoppers are looking for big savings for their holiday shopping this year, with 41% of respondents noting that Black Friday/Cyber Monday was either important or very important for their holiday needs.
“While in-store shopping remains the preferred method for day-to-day purchases, the convenience of online shopping dominated during BFCM. 55% of shoppers browse and buy online during this period to avoid crowds—a major source of stress for 40% of respondents,” he said.
“Retailers can anticipate a focus on value spending, where consumers feel they are getting a good deal on their purchases. We’re still in a period of economic uncertainty, so businesses offering promotions, discounts, and loyalty incentives will likely perform better as consumers look to stretch their budgets.”
Shapiro said consumers are more price-conscious than ever. In a tight economic environment, 69% of shoppers say that discounts play an important role in their buying decisions, while 54% cite special offers and free shipping as key factors driving their spending.
“This trend is particularly evident in apparel, where affordability (72%) and quality (65%) far outweigh considerations like local sourcing (8%),” he explained.
“Discount stores and bargain shopping have seen a resurgence, with more shoppers actively seeking promotions and deals to save money. 28% of respondents say they are explicitly searching for discounts, and 36% report being more cautious with their spending in the past six months.
Photo by Tom Tillhub
“Retailers that strategically use discounts, loyalty programs, and promotions to highlight value can capture the attention of budget-conscious consumers. This focus on affordability and savings is likely to remain a critical factor moving forward.”
Shapiro noted that economic pressures are affecting all demographics, but certain groups are feeling the strain more acutely. Younger shoppers (18-34) face unique challenges, such as managing rising debt and navigating a difficult housing market, while still valuing experiences and convenience.
“That being said, this group is also the most likely to engage in memberships like Amazon Prime (77%) or seek VIP-style services (42% interested). Despite their financial constraints, they are willing to pay more (55%) for out-of-stock items to get them immediately,” he said.
“The important thing for retailers to take note of is how their target demographic is spending, and what they are prioritizing with their wallet. While the younger demographic may be willing to spend more money for the immediacy of certain items, older shoppers will wait for items to go on sale, or shop where there are better discounts.”
Shapiro said supply chain disruptions have been regularly impacting retailers for a few years, and it continues to be a logistical challenge for many businesses.
“These disruptions have led to delayed deliveries, increased prices, and product shortages, especially during critical shopping seasons,” he explained.
“Many retailers plan well ahead of the holidays, stocking their inventory in the summer months in preparation for the busy shopping season, but even then there were challenges in the summer such as the eastern port strikes.
“To navigate these challenges, retailers are encouraged to diversify their supply chains and clearly communicate inventory updates. Highlighting local products and ensuring consistent stock can help mitigate consumer frustration and maintain loyalty in times of uncertainty.”
The challenges for business leaders today are complicated by a competitive, geopolitically, and technologically changing landscape. A survey conducted this summer with over 9,000 businesses showed under 15% saw the value of investment in artificial intelligence (AI).
In a similar but smaller survey conducted by Inception Retail Group Inc. surveying workers, 75% responded that their employers didn’t believe they needed AI to compete. The rise of business operators with sophisticated AI capabilities spells trouble ahead for many.
How will organizations transform themselves in this new era of AI?
This technology has already begun to disrupt industries, roles, and how we compete. Minakakis said business leaders should be more concerned about their ability to remain relevant rather than worry about potential tariffs. Business leaders need to make the right strategic choices.
Predictive Leadership comes with historical context and forward-thinking strategies, equipping executives, board directors, and investors to prepare for the future. The book guides the reader on how the business landscape will likely evolve and how we may have to respond to it, says a news release.
“The greatest challenge of our time is not the technology itself—it’s the leadership to harness it effectively,” said Minakakis. “This book is a call to action for businesses to close the gap and lead with intelligence, strategy, and vision.”
Artificial Intelligence has already begun to transform people and organizations, he said.
“What is at stake is the future of competition, understanding how AI creates entirely new classes of competitors, therefore moving toward creating a responsive landscape that can create instant and personalized advertising. Shifts are being driven by consumers, one of which is moving from search engines to ask engines, looking for greater convenience and ease of shopping. This is developing into what Minakakis refers to as the next customer revolution, with the adoption of personal AI assistants. He believes this will be adopted as quickly as smartphones and social media have been,” said the release.
“A board director himself, Minakakis, says that we will see organizations change toward greater unified intelligence with fewer silos and fiefdoms, developing into responsive organizations acting on predictive insights and launching an era of accelerated innovations.”
The book is written in five parts, dealing with the shift toward AI and relating it to what has driven our human quest for intelligence and how machine, organizational, and competitive intelligence have evolved. Part five calls out the need for intelligent democracies to have guardrails and geopolitical awareness with the applications of AI.
Minakakis is a seasoned business executive with international experience who has led and operated organizations in Canada, the US, and China. Today, he advises leaders and corporations, is the author of four books, and is a speaker with over 30 years of real-world engagement, having worked with PepsiCo and Luxottica.
102-108 Yorkville Avenue, including Brunello Cucinelli and the former Versace space. Photo: Craig Patterson
Italian luxury brand Brunello Cucinelli is expanding its footprint in Toronto’s Yorkville area by annexing the former Versace flagship store at 106 Yorkville Avenue. The expanded Brunello Cucinelli store will be one of the largest in the world.
A Major Expansion in Yorkville
Brunello Cucinelli is set to significantly grow its presence on Yorkville Avenue in Toronto by integrating the former 3,000 square foot Versace flagship space with its existing 8,500-square-foot boutique next door. The combined location will result in a significantly larger footprint at over 11,000 square feet, underscoring the brand’s commitment to the upscale Yorkville neighborhood. The deal to expand Brunello into Versace’s space was done prior to Versace exiting its storefront.
The Versace flagship’s closure, previously reported by Retail Insider, marked a notable shift in Toronto’s luxury retail scene. Versace’s departure from this high-profile location comes as brands continue to reassess their physical retail strategies amidst evolving market dynamics. Brunello Cucinelli’s move to occupy the premium space highlights Yorkville’s ongoing appeal to global luxury brands and reinforces its reputation as one of Canada’s preeminent luxury retail hubs.
Yorkville Avenue in Toronto. Photo: Craig Patterson
102-108 Yorkville Avenue: A Notable Project by First Capital REIT
The commercial building where Brunello Cucinelli is located was built several years ago by First Capital REIT. Other tenants include Stone Island, Majesty’s Pleasure, and the Aburi Hana restaurant. The landlord also owns other buildings nearby housing tenants Chanel and Balenciaga, as well as the Yorkville Village shopping centre that was formerly named Hazelton Lanes.
Eric Sherman, Head of National Operations at First Capital REIT, said, “We are thrilled to be able to accommodate Brunello Cucinelli’s desire to expand its Canadian flagship in Yorkville. Brunello Cucinelli was an early believer in our vision for the neighborhood and this historic expansion is the ultimate validation.” Sherman went on to say, “We’d like to thank Massimo and the Brunello Cucinelli team for their partnership and wish them continued success as they grow in this market.”
Yorkville: A Hub for Global Luxury
Yorkville continues to attract the world’s most prestigious fashion houses, maintaining its position as an epicenter of luxury retail. Besides nearby brands Chanel and Balenciaga, other big names on Yorkville Avenue include Christian Louboutin, Kiton, Isaia, and Veronica Beard, while Bloor Street West remains home to a concentrated row of flagship stores for luxury stalwarts like Louis Vuitton, Gucci, and Tiffany & Co. Hazelton Avenue is seeing new luxury stores such as Derek Rose and Hastens, while Harry Rosen will open a 38,000 square foot flagship store on Cumberland Street in early 2026.
Brunello Cucinelli store Yorkdale. Photo: Brunello Cucinelli
Brunello Cucinelli’s Growing Canadian Portfolio
Brunello Cucinelli’s expansion in Toronto comes amid a broader Canadian growth strategy that has been ongoing for nearly a decade. The brand’s first Canadian standalone store opened in Vancouver at 745 Thurlow Street in the fall of 2015, spanning approximately 2,700 square feet. That location set the stage for further expansion, including the opening of the 8,500-square-foot flagship store at 102 Yorkville Avenue in early 2019.
Earlier this year, Brunello Cucinelli opened a standalone boutique at Toronto’s Yorkdale Shopping Centre. The 4,200-square-foot location is part of the mall’s luxury wing, reflecting Yorkdale’s position as a critical shopping destination for affluent Toronto consumers. Further west, Brunello Cucinelli announced plans for another standalone store in Vancouver’s Oakridge Centre, set to open in the fall of 2025. The Oakridge store was publicly confirmed in February 2024 and will join the brand’s downtown retail spaces in Vancouver.
DWSV Realty handles Brunello Cucinelli’s real estate negotiations across Canada.
Beyond its standalone locations, Brunello Cucinelli maintains a presence within high-end multi-brand retailers. The brand operates concession spaces in Holt Renfrew, with its Vancouver location on the third floor performing particularly well. Harry Rosen also carries Brunello Cucinelli’s collections, alongside select independent retailers such as Via Cavour in Toronto. The brand’s outlet store at Toronto Premium Outlets in Halton Hills further extends its accessibility to Canadian shoppers.
New Versace store at Toronto’s Yorkdale Shopping Centre. Photo: Craig Patterson
Versace’s Strategic Relocation
While Versace’s departure from Yorkville marks the end of its prominent flagship presence on Yorkville Avenue in Toronto, the Italian luxury brand is not retreating from the Toronto market. Versace recently unveiled its new store at Toronto’s Yorkdale Shopping Centre, located within the mall’s expanded luxury wing. The store relocated from another space in the mall, and is part of a bigger Canadian investment by parent company Capri Holdings.
Versace’s Canadian growth includes its first standalone store in Montreal, which is set to open at the prestigious Royalmount development. The Montreal store signals the brand’s commitment to strengthening its footprint in key Canadian markets. Further west, Versace will return to Vancouver with a boutique at Oakridge Park in 2025, cementing its renewed focus on the West Coast.
Versace’s previous presence in Vancouver included a standalone boutique on Thurlow Street, which operated from 2015 until its closure in 2020. That location is now occupied by Thom Browne. Additionally, Versace maintained a boutique within Vancouver’s luxury multi-brand retailer Leone from 1987 until its closure in 2020. Versace continues to operate outlet locations in Canada, including at Toronto Premium Outlets and McArthurGlen Designer Outlet near Vancouver.
Vancouver-based lingerie brand Understance continues to grow with its newest retail location in Calgary, marking the third store for the solutions-focused company as it pursues plans for 30 stores across North America within the next five years.
Understance, known for its inclusive and solution-oriented lingerie, has chosen Calgary’s vibrant Inglewood neighbourhood as the home for its third storefront. Located at 1020 9 Ave SE in the AVLI Building, the new 1,788-square-foot store officially opened its doors on December 18.
“The opening of our Calgary store is an exciting milestone as we work towards our ambitious goal of establishing 30 retail locations across Canada and the United States over the next five years,” said Jiayi Lyu, Director of Understance. “Understance is thrilled to become part of Calgary’s vibrant retail landscape, and we look forward to building meaningful connections with the local community.”
Inside the Understance store in Calgary. Photo: Understance
Understance’s Growth Journey: From Vancouver to Toronto and Beyond
Understance launched in 2021 with a clear mission: to provide comfort, support, and inclusivity to bra-wearers, addressing a significant gap in the lingerie market. The brand’s first store opened in downtown Vancouver in February 2022, a pivotal moment that laid the foundation for its expanding retail footprint. Building on that success, Understance opened its second store in November 2024 at 2334 Bloor St. W. in Toronto’s Bloor West Village. The Toronto location, spanning approximately 1,400 square feet, introduced the brand’s complete range of bras, underwear, and sleepwear to the Ontario market.
Understance’s rapid expansion is rooted in its unique approach to bra design and customer service. The brand offers one of the largest size ranges in North America, starting at a 28 band size and extending up to 48, with cup sizes available up to N. This extensive selection, paired with professional fitting services, caters to a diverse range of body types.
“Half of women are currently wearing the wrong bra size, and we aim to change that,” Lyu explained. “Our focus is on offering professional bra fittings, a wide range of sizes, and comfortable solutions that prioritize function and fit over trends.”
Inside the Understance store in Calgary. Photo: Understance
Calgary’s Inglewood: A Strategic Choice for Understance’s Third Store
Calgary’s Inglewood community is renowned for its eclectic mix of retailers, cafés, and historic charm. The area’s lively atmosphere and reputation as a destination for unique shopping experiences make it a natural fit for Understance’s growing presence.
The new Calgary store, nestled within the AVLI Building, has been thoughtfully designed to enhance the in-store experience. Shoppers will find convenient underground parking, modern interiors, and a welcoming environment that aligns with Understance’s customer-first philosophy.
“In-person shopping is a crucial part of our mission because it allows us to provide personalized fitting services,” added Lyu. “Our stores are designed to ensure customers feel comfortable and supported as they shop.”
At the Calgary location, customers can choose hands-on support from trained bra fitters or browse independently. The space reflects Understance’s commitment to delivering solutions that merge comfort, function, and style for everyday wear.
Understance store in Calgary. Photo: Understance
Next Stop: Metropolis at Metrotown in Burnaby
Understance has no plans to slow down. Following the Calgary opening, the brand has confirmed its next location at Metropolis at Metrotown in Burnaby, set to open in January 2025. The Burnaby store will bring Understance closer to its roots in Metro Vancouver while expanding its reach to a broader customer base.
“We got our start in 2021, so we are still a young company. Our primary focus is comfort and support. We are not a fashion-forward, glitz-and-glam kind of bra brand. We specialize in your everyday workhorse bras,” said Lyu. “Things have been going well for us, and we are excited about the next steps in our growth journey.”
The Understance Difference: Solution-Oriented Lingerie for All
Understance has quickly gained recognition for its solution-oriented approach to lingerie. Backed by Shenzhen Huijie Group Co., Ltd., a global leader in lingerie manufacturing with over 26 years of expertise, the brand combines industry-leading craftsmanship with customer-driven innovation.
The company’s design philosophy centres on everyday bras that work. By offering one of the largest size ranges in North America, Understance empowers customers to find their perfect fit—a mission reflected in its tagline, “Bras That Work.”
Since its launch, Understance has distinguished itself with products that prioritize comfort, fit, and durability. The brand’s collections include bras, underwear, and sleepwear that cater to diverse needs, emphasizing inclusivity and thoughtful design.
Grewal was born and raised in Calcutta, India and immigrated to Canada 36 years ago. She has a Bachelor of Commerce from the University of Calcutta and after she moved to Calgary she took Business Administration and Accounting courses at the Southern Alberta Institute of Technology.
Her dream when she was young was to go into accounting as a career.
“After I finished school, I did two summer jobs with my accounting background and came to KORITE just by fluke. Just applied for an accounting position. I had no idea what they sold. I did accounting for maybe less than a year, then a position opened for inventory manager and I said I didn’t know anything about gemstones. I know numbers, I know how to crunch numbers, but I don’t know anything about gemstones,” said Grewal.
She was told that the position was temporary.
“I’m always up for the challenge,” said Grewal. “I took that position and long story short, I never looked back. I fell in love with the gemstone. Fell in love with the story, fell in love with Canadian gemstone. I was embracing Canada at the time. I was four years in Canada at the time,” explained Grewal.
“I slowly literally built up myself from being inventory manager, inventory and production manager, started looking at the production, operations, a bit of sales, poked my nose into marketing. When I left in 2020 I was the Executive VP of the company.
“I was with KORITE for 30 years when I left in 2020. Three years ago I left KORITE and I was thinking I’m going to go do something different. I’ve been in this industry for 30 years and had my fair share. And now I’m going to go do something different, something outside the box. I got approached by many people, a lot of supporters within the industry and they would say, ‘you’re not thinking of moving away from this’. And I said, ‘I’m not sure what I want to do’. I came back, started my own company, same concept.
“KORITE is mine to the market. And what I started with my business was obviously I didn’t want it to go into the mining. So I was sourcing from the ethical sources. Same concept, but sourcing versus mine to the market.”
That company was Iniskim Ammolite. She returned to KORITE as President recently after Buffalo Rock Mining bought the company from receivership.
Grewal said her mother is her rock, a pillar of hers all her life. She personally believes there’s a myth that in India they tell you what to be – a doctor, an engineer or an accountant. But her mother always told Grewal to follow her passion and do what she wanted to do.
“That’s exactly what I’ve instilled in my kids,” she added. “I tell them to do something that when you wake up in the morning it’s something you want to do.
“I have followed that mantra for myself. My kids have followed that. My mom was a big advocate of that. One thing my mom did was instil in me and the biggest believer is that a woman should be financially independent no matter what. And I’m talking like my mom. I’m 56. My mom told me that 56 years ago. So back then my mom was very independent herself.”
Being passionate, confident and self-motivated are traits she learned from her mother.
“I love gemstones. Who doesn’t? Ammolite for me, it’s such a beautiful gemstone and more than the gemstone. I mean, absolutely, it’s beautiful. I think the story behind it. That’s what I fall in love with.
“I constantly ask myself why Ammolite?. . . . How many gemstones are there in Canada that we can call Canadian gemstones? Ammolite is the official gemstone of Alberta. That’s amazing, but that’s not where I want to stop. I want Ammolite to be the official gemstone of Canada one day. That’s my vision. That’s my dream. A lot of people ask me, ‘so you started your own business why come back to KORITE again?’ An amazing opportunity opened with Buffalo Rock Mining buying the assets of the company.
“I thought what an amazing opportunity to bring the status of Ammolite which has always been my mission and my passion on a bigger, global scale. I became a co-owner, partner with Buffalo Rock Mining right now.
“I still think there’s not enough awareness about Ammolite. Numbers will come and go. Revenues will come and go. We are literally building this KORITE today from scratch. It did go through a financial challenge. Buffalo Rock Mining didn’t buy KORITE so-called. They bought the assets of it and the new name of the company is KORITE Ammolite Limited. It will be challenging but it will be a fun challenge because I love challenge.”
She still owns the other company but it is on pause for now.
Her style of leadership is very inclusive.
“I believe in emotional intelligence. That’s where I pride myself in because the number one rule for me is to be kind. And kindness can be taken in a number of different ways. From a leadership perspective, to be an empathetic leader. That’s huge for me,” explained Grewal.
“I think you build better companies, you build better collaborations, you build better teams and all that is so important to bring the growth. I like to crawl before I start running and I think that’s where KORITE is today. I’m very impatient short term but very patient long-term, meaning I know where I need to take KORITE. Can I take it overnight? Absolutely not.
“It will take some time to rebuild the brand, rejuvenate the brand. From that perspective, I think it’s going to take some time but like I said I have a lot of patience for the long term.
“It’s a full circle coming to me because Ammolite comes from Indigenous land. That story of a Canadian gemstone coming from Indigenous land and creating that brand with that inclusivity, that diversification, I bring that not only to the story of Ammolite but I bring that to my leadership too. When I’m sitting at a boardroom table, I don’t want to be the person who just says ‘hey this is the way we’re going to run this’. It’s very inclusive, especially from people who have come along with us and they have gone through those financial difficulties for the last three years. They understand the pains of it. They have suffered. What didn’t work, let’s talk about it. We’re going to talk about it to see what we know today that we shouldn’t do going forward.
“I believe everyone should have a voice at the table. I’m a big believer of that . . . To me a brand is a culture and that’s where I want bring KORITE too. When I wear my Ammolite, I feel confident, I feel bold. That’s the message I want to bring about KORITE Ammolite. It’s not about just a gemstone. It’s how you feel when you wear this piece of jewelry that’s you’re so proud of. I want the KORITE brand to be at a level where you feel confident. I can’t say this enough about how proud I am that it comes from an ethical source and sustainable source. And to wear that piece of jewelry is like a full circle. Yes it’s beautiful but it’s how it makes me feel when I’m wearing it.”
As we are now into the busiest selling season of the year, the rise of returns hits a critical peak from the Black Friday through the holiday season.
Returns are a hidden environmental crisis, especially during the holiday shopping season, as over 9.5 billion pounds of returned items end up in landfills each year.
Recommerce companies like Rebelstork have developed the technology and platform to offer seamless solutions for retailers to handle returns in a more sustainable way.
Emily Hosie, Founder and CEO of the Canadian company, Rebelstork, said the company has revolutionized returns recommerce as it has partnered with more than 2,500 retailers and baby gear brands, enabling the resale of items that would otherwise be sent to landfills.
Emily Hosie. Photo courtesy of Rebelstork
They are saving an average of 12 million pounds of baby gear from ending in landfills annually.
“We are the largest returns recommerce platform in North America, specifically in the baby gear industry. And most recently we soft launched into home returns,” said Hosie.
“What that means is we work with over 2,500 partners across the baby and home verticals, iconic global brands, smaller brands, as well as mass retailers and just retailers in general. And we work with them through our technology to reprocess their returns so that they can be diverted from landfill and available to customers across the United States and Canada at a fraction of the retail price.
“It’s the holiday season. It’s Q4, which means it’s heavy shopping season. It’s been for some brands and retailers over 30% of their total annual revenue coming from just Q4. So it’s a very important quarter. But what that does mean is that it does cause an influx of returns. Gifts that weren’t wanted, people changing their minds. It is the start of a returns’ influx, but I will say something we find interesting, there’s actually an influx of returns any time there’s a disruption or a sale happening in the full price market.
“Of course holiday causes an influx of returns but so does Amazon Prime right after Amazon Prime days. So does right after Target Circle days. Any time there’s like a mass amount of sales happening, it causes an influx of returns.”
Hosie said Rebelstork is considered a tech company and it built the technology to be able to inbound and process tens of thousands of unique returns every single day.
“I believe across all of our facilities in North America, we’re currently processing over 70,000 unique SKUs a week in the baby gear and the home verticals. Our inventory is able to ingest liquidation by the truckload.
“It’s able to uniquely identify and license plate every single item. It goes through a quality check process and then it goes live for our customers to be able to purchase,” she explained.
Emily Hosie. Photo courtesy of Rebelstork
Benefits of a customer-centric return policy
Hosie said there’s a lot of benefits to having a really great and customer centric return policy. It drives foot traffic to stores. It creates consumer loyalty. It often increases wallet share. When somebody buys something and returns it, the stats indicate that customer is getting that money back and is then going to go and end up buying more than what the return value actually was.
“There is a lot of benefit to having a customer centric return policy,” she said. “And that’s why most companies do have a customer centric return policy. Those return policies aren’t changing anytime soon. The other main reason for the increase in returns is the big shift into online shopping. Online shopping has almost doubled the average return rate to in-store returns and it’s kind of just the behaviour of the customer that they’re buying multiple items to return multiple items.
“As we saw in COVID and it’s continued just online sales it continues to be growing at double digit paces.”
Emily Hosie. Photo courtesy of Rebelstork
Hosie said often it is change of mind by a customer leading to a return or it’s not what a customer expected.
“I think that what’s important to talk about when we’re dealing with returns is that it is a crisis. It’s almost a trillion dollars and it keeps growing year over year. I think it’s just under $900 billion the estimate currently. But there’s solutions. When the majority of returns are being damaged and discarded or sent over to landfills, there are solutions that exist. Rebelstork being one of the largest ones. So it is possible for these brands and retailers to be making a new revenue stream on returns recommerce versus throwing perfectly good product out into the garbage. Returns are a crisis, but there are solutions to solve it. And we are one of them.”
With the Canadian dollar sinking below the 70 cents US level, the retail industry is wondering how this currency crisis in Canada is going to impact the sector.
Doug Stephens
“In short, this means Canadians are going to pay more for a wide range of goods originating in the U.S.. Add to this the prospect of Canadian tariffs on Chinese goods and it’s a recipe for further inflation. Of course it will also mean that Canadians travelling to the U.S. will suffer on exchange rates,” said Doug Stephens, Founder of Retail Prophet.
“However, it will benefit for Canadian companies who do significant business with the U.S. and invoicing in U.S. dollars. That’s assuming they’re not selling a product or service that becomes subjected to U.S. tariffs.”
“This could worsen inflation, especially for price-sensitive categories like food,” he said.
“While a lower dollar creates challenges, it also opens doors for domestic retailers and manufacturers. Canadian-made food products may gain a competitive edge as the price gap with imported alternatives shrinks.”
“For those publicly-traded especially, this means bringing “home” annual earnings from Canada has been significantly discounted of late and a further drop in the loonie makes it worse. This can chill further expansion here and possibly cause some pull backs. I believe that a factor in Target’s decision to abandon Canada was influenced in no small part by a significant drop in our dollar while they were in the midst of their struggles here,” he said.
“We are also very reliant on trade for the products we sell here to Canadians. This varies by product category where cars and parts are predominantly from the US, when not made here at home. Fashion on the other hand is mostly imported, with China, Vietnam and other countries significant exporters.
“When our dollar falls in relation to the source nation, retail merchants have to spend more, leading to price inflation pressures. Even when we source outside the US, often those currencies ebb and flow with the USD. More importantly, the talk of our dollar and tariffs and other economic disruptors creates uncertainty in boardrooms. This is no small impact on our domestic HQs, as it can pause investment and expansion. The lone silver lining? Canadian consumers are more apt to buy in Canada. We’d expect a continued drop on online purchasing from US sites or cross border shopping.”
A number of factors are influencing that including the threat of US tariffs and economic nationalism, Canadian politics and the Bank of Canada’s policies on interest rates. They are all converging.
“However, the impact on retailing means higher wholesale costs, which leads to pressure on margins and, ultimately, higher prices for an already stretched consumer. However, history reminds us that cross-border shopping also exists in some markets when the Canadian dollar is attractive. Retailers will have to find new sources with both reliability, quality, and price stability in supplies to mitigate future scenarios, and the time to do that is now,” said Minakakis.
“The challenge ahead is where the new Trump Administration will land with its threat of tariffs; if it happens, there will be an upward-downward movement on the dollar. That will have far more significant impacts than what we are seeing today. Retailers may discover that Canadians could begin their national movement for made-in-Canada or Canada-friendly trade partners, potentially applying to everything from clothing to cars. I am referring to all this as the power of shifting trade winds. Either way, the dollar is trading at some level of uncertainty.”
Bruce Winder
Bruce Winder, a retail analyst and author, said as the Canadian dollar weakens, Canadian retailers face increasing headwinds and in some cases at least one tailwind.
“To the extent that Canadian retailers import products or buy products from importers, their cost of goods sold goes up, thus driving inflation,” he said. “In addition, any service providers that charge Canadian retailers in US dollars or other currency will become more expensive when adjusting for currency. As it relates to cross border shopping, more Canadians will shop at home as international products become more expensive when including currency.
“If a Canadian retailer has international operations (like lululemon) their international profits will be worth more when converted to Canadian dollars.”
“No matter what happens to the dollar, the cost of doing business will continue to rise. The cost of goods, components/parts, manufacturing and warehousing are only increasing. With looming tariffs and US policy changes, a weaker Canadian dollar will impact the bottom line. Profits and margins will take a hit and at the end of the day, the customer will be the one to pay the higher price. Unless brands and retailers become more strategic in how they source and create products or innovate how they go to market, it will continue to cost more to retail in Canada,” she said.
Gary Newbury
Gary Newbury, a retail supply chain expert, said it seems consumers and retailers alike can barely catch their breath as a rail strike, a port strike, a potential air strike and finally a postal strike are compressed into a two to three month period, aligning with peak buying. And now a threat on the stability of inbound prices.
“The Loonie has been hovering around 0.72-0.75 for several years, buoyed, in part by the perceived strength of Canadian banking sector, along with energy, agriculture and mineral exports. However, with political instability breaking out (recently), and the release of a significant budgetary deficit, the Canadian dollar to US dollar rate is showing some signs of an impending weakening, dipping below 0.70,” he said.
“The Bank of Canada will be on high alert as its mission is to implement monetary policy to ensure inflation is around 2%. However, this is likely to mean diving into the bonds market and offering higher return rates. This will, in turn, scupper their recent plans to continue to reduce central bank interest rates. Simply put, the interest rate policy of the Bank has done nothing to drive out price rise expectations. They were too late to put up rates in 2022, and too early to bring them down. For consumers this should strike concern as they look towards their 2025 household budgets.
“What this means for retailers? Clearly retailers with a high degree of imports will have been hedging against such risks, so they should have some protection in the short term, and with reduced trading volumes expected during the current peak, their buying will likely reflect a more cautious approach reflecting the need to better manage increased prices and lower consumer sentiment/confidence.
“Short term, they should keep a watching brief for any exchange rate deterioration and place appropriate pauses on buying merchandise in discretionary spending categories. They will also be looking internally for operational efficiencies, typically from the supply chain and overhead departments plus further cutting hours and will be considering consumer price rises/reducing promotional activity. It’s neither a good end to a disrupted year, nor the positive news many retailers will be looking for as they consider Q1, clearance and for some, their fiscal year ends.
“If the exchange rate continues to decline over the next three months, more drastic action will need to be considered by retailers, much as they considered during Q1/2 2020 (with much lower demand than expected and challenges with holding too much inventory with limited ability to liquidate).”
