Happy Belly Food Group Inc., a leader in acquiring and scaling emerging food brands across Canada, has promoted Randall Papineau from Brand President of iQ Foods to President of Emerging Brands of Happy Belly, effective immediately.
“I am very thankful for the opportunity to work with Randall again. His hands-on approach has been key in transforming our operational strategies of iQ Foods and contributing to our continued success,” said Sean Black, Chief Executive Officer of Happy Belly.
Sean Black
“Previously in my career we were partners with Recipe Unlimited in Fresh Restaurants which is now owned by Fairfax Financial. Randall previously joined us at Fresh Restaurants and quickly took over leading that brand’s growth. He did an incredible job with the people, product and driving profitability of Fresh, and as brand president of iQ Foods for Happy Belly he has done a tremendous job with consecutive back-to-back months of profitable growth and operational efficiency.
“He has directly increased unit profitability and optimized our brands operations. As a direct result of Randall exceeding expectations, and his deep experience with coffee brands, we have now intrusted Randall to oversee our emerging Smile Tiger Coffee Roasters brand in additional to iQ Foods.”
With a proven track record in building strong brands, teams, and profitable operations, Papineau’s entrepreneurial mindset and hands-on approach make him a perfect fit for leading Happy Belly’s emerging brands division, explained Black.
Randall Papineau
“His leadership experience in the coffee industry, notably as Vice President of Retail Operations at Balzac’s Coffee, aligns seamlessly with our strategic roadmap for 2025-2026 of integrating and growing our Smile Tiger Coffee Roasters brand both organically within our existing brands service offerings, but through franchising as well. Randall’s leadership will be instrumental in scaling our emerging brands vertical and advancing our strategic roadmap for 2025-2026, driving significant growth for IQ Foods and Smile Tiger.
“Randall’s leadership has been pivotal during a time of significant corporate growth for Happy Belly. Randall brings the right mix of operational excellence, culture, and entrepreneurial spirit to Happy Belly. His promotion is a testament to his outstanding leadership and dedication. As we expand our iQ Foods retail presence, along side our Smile Tiger Coffee presence, Randall is the perfect choice to lead both brands.”
Black said Papineau will oversee the end-to-end operations for Happy Belly’s emerging brands division, both corporate and franchised, ensuring alignment with overall strategic objectives. He will lead initiatives to optimize operational systems, drive profitability, and deliver an exceptional guest experience across the company’s portfolio of brands.
“Our asset-light franchise model enables Happy Belly to continue accelerating growth across all our brands. With a strong foundation, strategic leadership, and a dedicated franchise support system, we are well-positioned to drive sustained success in the Canadian QSR market. This is another step forward in our mission to become a predictable and disciplined growth company, Canada’s leading restaurant consolidator,” said Black.
T&T Supermarket Inc., the largest Asian grocery retailer in Canada, has announced the opening of its second store in Mississauga, Ontario. Located at 3055 Vega Boulevard, between Dundas St W and Hwy 403, the 40,000 square feet store will open in Summer 2026.
The new T&T has easy access and is strategically positioned to serve the growing communities in Oakville and Mississauga, said the company.
CEO Tina Lee
“This location has been long time coming,” said Tina Lee, CEO of T&T Supermarket Inc. “We’ve been looking to serve the Oakville community for a while now, and we have finally found a great location that will do that and more. Right now, we have customers on the west end driving over 30 mins to shop at our T&T at Central Parkway. With this new T&T, we’ll be able to serve not only Oakville, but also Milton, Burlington and beyond.
“This is a ground up build, so it’ll take us a bit longer to get the store ready. Our customers are excited, we’re excited – we’ll try to bring the T&T experience to these customers as soon as we can!”
This location will offer the full range of T&T’s assortment, including Asian snacks, fresh produce, live seafood, bakery items, skincare products, gifts, and in-store prepared foods. T&T also offers a selection of Southeast Asian foods, featuring iconic products like Mama Sita’s seasoning, Lucky Me instant noodles, Jack & Jill chips, and Gina mango juice. In addition, T&T at Erin Mills will have distinguishing features such as popular street foods like popcorn chicken, sticky rice wraps and Chinese crêpes.
The store is expected to create 120 jobs for the local community. For job opportunities, visit tntsupermarket.com.
T&T Supermarkets is the largest Asian supermarket in Canada, operating over 38 stores in British Columbia, Alberta, Ontario, Quebec and Washington. T&T Supermarkets was founded in Vancouver in 1993 and is now led by second-generation successor and CEO, Tina Lee. T&T Supermarket is headquartered in Richmond, BC.
Rael Diamond
“We are proud to be a part of bringing T&T to our Erin Mills Power Centre,” said Rael Diamond, President and CEO of Choice Properties. “T&T offers a diverse range of fresh, high-quality products that reflect the vibrant multicultural fabric of our Canadian communities. We look forward to seeing this store become a valued part of Oakville and West Mississauga’s daily life and bring a consistent stream of customers to the benefit of our other tenants and neighbouring businesses.”
Choice Properties is a leading Real Estate Investment Trust that “creates enduring value through places where people thrive.” It is a national owner, operator and developer of commercial and residential real estate.
KaseMe store in Trois Riviers, Quebec. Photo: KaseMe
Quebec-based mobile accessories brand KaseMe is significantly expanding its physical retail footprint with the opening of four new stores across the province. The new locations—at CF Carrefour Laval (opening Thursday of this week), Promenades Saint-Bruno (mid-May), Promenades Gatineau (mid-June), and Galeries d’Anjou (mid-July)—mark a major step in the brand’s retail growth strategy.
The openings bring KaseMe’s total number of stores to eight, following previous launches that proved successful in translating the brand’s e-commerce momentum into brick-and-mortar retail. According to William Giroux, President and Co-founder of KaseMe, the brand is leveraging physical locations to tap into a new demographic—those unfamiliar with its strong digital presence.
Giroux noted that approximately 65% of customers walking into a KaseMe store are discovering the brand for the first time. Of those, a remarkable 40% leave with a product, highlighting the effectiveness of the company’s in-store experience in driving conversion.
William Giroux and Gabriel Bolduc, founders of KaseMe
From E-Commerce Success to In-Person Impact
Founded in 2016 by William Giroux and Gabriel Bolduc, KaseMe initially focused exclusively on e-commerce, offering customizable, impact-resistant phone cases and accessories designed and produced in Quebec. Over time, the brand cultivated a loyal online customer base and gained recognition for its unique blend of creativity, functionality, and Canadian-made quality.
The company’s first foray into physical retail came in 2020 with a pop-up shop in Quebec City. The success of that initiative paved the way for permanent store openings, including one at Laurier Québec in 2022. With the addition of the four new locations, KaseMe is now positioning itself for broader national growth, aiming to operate 12 locations across Quebec and Ontario by 2026.
Giroux explained that the move into retail has allowed KaseMe to offer something more than just product—it provides an experience. The physical stores embody the company’s ethos of creativity, sustainability, and individuality, values that resonate with a diverse customer base seeking personalized and design-forward accessories.
KaseMe store at Galeries de la Capitale in Quebec City. Photo: KaseMe
A Distinctive In-Store Experience
KaseMe stores are purposefully designed to replicate and even elevate the brand’s award-winning online experience. In 2025, KaseMe ranked second in Léger’s WOW Digital Rankings for Best Digital Customer Experience in Canada, ahead of well-known brands such as LEGO, MAC Cosmetics, SAQ, Nike, and Aerie.
The in-store offering includes on-site customization through the KaseMe NanoPress technology, allowing customers to design and receive personalized phone cases within approximately 15 minutes. Stores are vibrant and highly visual, with hundreds of exclusive designs available, providing a tactile and inspiring environment.
Giroux emphasized that KaseMe’s retail team plays a key role in the customer experience. Store associates are selected for their ability to reflect the brand’s values—bringing warmth, creativity, and a commitment to service that aligns with the company’s emphasis on positive human connection.
Strategic Investment and Local Hiring
The development of the four new stores represents a $1.4 million investment and will result in the hiring of approximately 30 employees across the new locations. This hiring strategy reinforces the company’s focus on maintaining a high standard of in-store engagement and brand consistency.
Each new location was selected strategically based on its proximity to a high volume of consumer traffic and a demographic aligned with KaseMe’s core audience: young, style-conscious, and digitally fluent individuals looking for products that reflect their personal identity.
Giroux noted in a previous interview that the company’s just-in-time manufacturing approach allows for fast fulfillment and minimal waste, a core principle of its B Corporation certification, which also reflects its commitment to sustainability, ethical sourcing, and employee wellbeing.
KaseMe store in Trois Riviers, Quebec. Photo: KaseMe
Canadian-Made Products with a Purpose
KaseMe’s products are all designed and manufactured in Canada, with operations headquartered in Beauce, Quebec. The company currently employs over 50 people, with plans to expand its team in tandem with new store openings and growing demand.
The brand offers more than 800 original designs, available across a wide product assortment that includes:
Customizable phone cases (iPhone and Samsung)
AirPods cases and straps
iPad and MacBook accessories
Wireless power banks and phone loops
Beyond aesthetics, KaseMe’s Impact series cases are built for durability, offering 8-foot drop protection, appealing to customers looking for both fashion and function.
KaseMe store at Galeries de la Capitale in Quebec City. Photo: KaseMe
A Purpose-Driven Company Culture
KaseMe is more than a lifestyle brand—it is a company guided by values of authenticity, creativity, and community engagement. With the mission to “design happiness,” the brand encourages customers to embrace self-expression while making thoughtful consumer choices.
The company has embedded sustainability into its operations through on-demand production and initiatives aimed at reducing overproduction and waste. Its B Corp status underscores KaseMe’s broader impact goals, which include supporting local employment, ethical manufacturing, and charitable partnerships.
Food same-store sales up 5.3% and up 3.9% when adjusting for the Christmas week shift
Pharmacy same-store sales up 7.0%
Net earnings of $220.0 million, up 17.6% and adjusted net earnings of $226.6 million, up 9.8%
Fully diluted net earnings per share of $0.99, up 19.3% and adjusted fully diluted net earnings per share of $1.02, up 12.1%
Eric La Flèche, Metro’s president and CEO
“We delivered solid results in the second quarter, driven by strong sales growth in both food and pharmacy as our teams continue to focus on bringing value to our customers across our different banners. We are actively promoting and highlighting Canadian products in our stores and online, as well as sourcing products from our international supplier base to respond to the needs of our customers. Despite the current uncertain economic environment, we are confident that our sustained investments in our retail networks and supply chain combined with strong execution will continue to fuel our growth,” said Eric La Flèche, President and Chief Executive Officer.
With annual sales of more than $21 billion, METRO is a food and pharmacy leader in Québec and Ontario, providing employment to more than 97,000 people.
The company said sales in the second quarter of Fiscal 2025 were $4,909.9 million, up 5.5% versus the second quarter of the prior year which ended on March 16, 2024. Sales were positively impacted by the transfer of two significant pre-Christmas shopping days to the second quarter this year.
Food same-store sales were up 5.3% in the second quarter of Fiscal 2025 and up 3.9% when adjusting for the Christmas shift. Online food sales were up 26.2% versus last year. When adjusting for the sales tax holiday, its food basket inflation was slightly lower than the reported CPI for food purchased from stores. Pharmacy same-store sales were up 7.0% with a 7.8% increase in prescription drugsand a 5.3% increase in front-store sales . When adjusting for the Christmas shift, the increase in front-store sales was 3.7%, it explained.
Sales in the first 24 weeks of Fiscal 2025 totalled $10,027.0 million, up 4.1% compared to $9,629.7 million for the corresponding period of 2024, added Metro.
“The significant investments in the modernization of our supply chain are largely behind us, and we are now focussed on realizing efficiency gains and improving the service to our store network. These investments position us well for growth through the expansion of our retail network in the years ahead. As we begin our third quarter, we face an uncertain economic environment, and it is difficult to predict how this environment will evolve and how it will impact our operations and our customers. To date, the recently introduced tariffs and counter-tariffs have not had a material impact on our business, however the situation remains highly volatile. We remain steadfast in our focus to deliver value to our customers through our robust merchandising programs, our strong private label and loyalty offers and working with our supply chain partners,” said the company.
Arc’teryx Equipment, the global design company specializing in technical high-performance apparel and equipment, is thrilled to announce the opening of its newest store in Banff, Alberta.
Having opened its doors to the public on April 12, this location represents a natural extension of the brand’s deep-rooted connection to the region—an iconic hub for Canada’s mountain culture and a premier destination for climbers, skiers, snowboarders, runners, and hikers alike.
“We’re a mountain brand, and our community really drives so much of our retail strategy. We have four stores in the Calgary market, and it was time to open a store in the mountains and really service that more endemic mountain community.
“There’s a huge pro community in the area. We also have some fantastic wholesale and community partners based there. So, it’s an important part of our strategy to be close to the mountains. The opportunity came up in an old Hudson’s Bay location.
“It’s a big space, around 4,000 square feet, with a stunning interior space. We’ve completely overhauled the façade. It’s a beautiful location. When you’re staring at the front of the store on Banff Ave, you look to the right and see Cascade Mountain, and to the left, Tunnel Mountain. I’ve literally been smiling since I got back from Banff last week. It’s just such an incredible expression of who we are and why we exist. It all really came to life in Banff.”
The brand currently has 38 stores in Canada plus two outlets.
Cheesbrough said there are a few things unique in this store that really sets it apart.
Photo by Chris Amat
“We wanted to lead with community. When you enter the space, you’re not hit with product right away. Instead, you’re introduced to a concept called the Gear Library. It’s a curated collection of in-season products that people can try on and demo before they decide to purchase something,” she said. “It’s just an ongoing commitment for us to the mountain community.
“Right now, there are some ski products—a jacket, ski pants, an insulation piece. Since the mountain resorts in the area close toward the end of May, we’ll keep the ski product in the Gear Library until then. After that, we’ll shift to hiking and soft shell items. It’s a really unique offering for us and a chance for people to test out product before purchasing.
“We also have our ReBIRD Service Centre. It’s not new to our retail expression or the brand—we’ve always stood behind our product and offered care and repair. But the ReBIRD Centre is really a one-stop shop for product care, repair, and education.
“It’s a deep connection point with our community. In the first few days of being open, we had first responders, search and rescue, and ski instructors come in with gear that needed minor love. We were able to fix them on the spot, complimentary, and get them back out into the wild. They were so excited.”
Cheesbrough said more store openings are on the horizon with Halifax opening in early May.
Photo by Chris Amat
“We also have a beautiful Maker’s Table in the (Banff) store. It’s a place where, when we’re talking about our shell jackets, we can lay them out and walk through their technical features. The Banff Maker’s Table has a three-dimensional topographic map of the area,” he added.
“In the first few days after opening, people were just gathered around it, leaning over and pointing out trails they’d been on or wanted to explore. It was such an incredible element within the store.
“The local community has been warm and welcoming. We feel like we opened the right way—representing both the brand and Banff really well. We’re excited to see how tourists engage with it this summer and to continue building on our success in Alberta.”
Founded by climbers in 1989 in the rugged Coast Mountains of BC, Arc’teryx has built a legacy of designing high-performance outerwear that empowers mountain athletes to perform their best when it matters most. From its humble beginnings to becoming a global leader with over 160 stores and more than 2,400 wholesale partners in over 50 countries, the brand has always adhered to its core belief: “there is always a better way.”
“One of the most iconic mountain communities in Canada, Banff is a core place of practice for Arc’teryx’s athletes, ambassadors, friends and partners, and home to a thriving Pro community. With this opening, the brand is creating space to more closely service the endemic outdoor community while also fostering deeper connections with the people who call the mountains home,” explained the retailer.
“Alongside a network of local and regional ambassadors, athletes and impact partners, the store will also host regular events to build connections, inspire excitement and promote skill-building in the mountains.
Photo by Chris Amat
The Banff store spans 4,091 square feet and every aspect of the store was made to reflect Arc’teryx’s commitment to innovation and the mountain community.
“Its distinctive curved storefront features a welcoming porch and window bench, inviting visitors to pause, take in the surroundings, and connect with the space. Designed with a strong local connection, the store incorporates Rundle stone elements that mirror the surrounding topography, while the exterior bench encourages guests to gather. A sliding glass storefront system allows the indoor and outdoor areas to blend seamlessly during the warmer months, reinforcing the brand’s deep connection to nature,” noted the retailer.
“Upon entering the store, guests will discover a dedicated storytelling area offering an immersive journey into the brand’s heritage, design philosophy, and ongoing commitment to the mountain community. The space provides a deeper, more engaging experience than other locations, allowing visitors to explore the values that have shaped Arc’teryx’s iconic products.”
Delaney Schweitzer
“Arc’teryx has had enduring ties to Banff, outfitting athletes, guides, and SAR professionals in the Bow Valley for decades. It’s a place we come to push ourselves and find peace in the mountains. Through our longstanding wholesale and pro partners, we’ve built deep community ties in the town, and we’re so excited to deepen our connection with the opening of our first Banff brand retail store. From the ReBIRD Service Centre to the Gear Library, and our broad roster of community events and activations, this store has been thoughtfully designed to support our community, creating a place for connection, enablement and skill building in the mountains we love,” added Delaney Schweitzer, Chief Commercial Officer.
Retailer Kiokii and… Inc. is continuing on its aggressive expansion plan across the country.
Recently it opened its 13th store at CF Pacific Centre in Vancouver followed by its 14th store at Masonville Place in London. CF Fairview Mall is the next to open.
The retailer has 28 stores across the country.
CEO/Founder Echo Peng said every new store that has opened has had great success with the brand name getting more exposure and developing many followers.
Source: Kiokii
Peng said a recent job fair attracted hundreds of people who wanted to work for Kiokii.
“90% of the people they are female, and then they know our brand, their passion, and they are loving our social media. They want to work with us, not just because the economy is bad, but also it’s because that they are actually in love with Kiokii brand. I personally think that what we always do is we think that if we have the really, the best products with the reasonable price, comparable price compared with other brands, retail, a good customer service, we are thinking from the customers point of view with a really shopping good environment, then eventually we were getting our customer as a loyal customers,” said Peng.
“I think by the end of the year, we pretty much covered all the tier one malls. Yeah. So the only ones that we haven’t covered, I think it’s really like Yorkdale,” she said.
As the company continues its expansion, it is looking for space between 2,500 square feet and 3,500 square feet.
Peng said the company wants to open at least 50 stores in Canada by next year.
Scaling at this pace can be challenging, but Peng said the brand has a great team. The payroll has gone from about 120 at the end of 2023 which has grown to about 240 at the end of 2024. Today, it’s close to 300.
Its head office is in Vancouver with warehouses in Vancouver, China, Korea and Toronto.
“I think that we are really at this moment we’re the top one players in this category, and then we’re growing really fast. Our first flagship will be opening in the American Dream (shopping centre in New Jersey) this year in October. That will be 5,400 square feet,” said Peng.
“We are expanding. So not just focusing in Canadian market, but we are expanding to the US as well. Right next to Sephora, and that would be our flagship.”
Source: Kiokii
Peng said the brand will look to grow in the U.S. “but at this moment that I want to focus on my Canadian market. I want to get the word out that we are ready for tier two mall. We are ready for every location that is a possibility. For this year our plan is done. By the end of this year, we will having around 25 stores, but right now, we are actually signing the deals for 2026. Of course, we are getting lots of landlords approaching us.
“I’m pretty sure there are some of the landlords that maybe never heard about us or don’t know yet, but I just want the market to know that we are ready to expand. And our concept being approved for the past two years, every single store that we opened, the sales is significantly like crazy. Like the result is crazy. That’s why we had a really strong relationship with CF (Cadillac Fairview). We pretty much signed every single mall with CF already because CF is the first landlord that we really ever worked with. They know us the best. So they’ve been supporting very well, and then they giving us the really good locations.”
The first store opened July 2022 at the Hillcrest Mall in Richmond Hill followed by a second store in September 2022 at CF Markville in Markham, Ontario. In December 2022, it acquired three other stores. Then in 2023 it opened four stores.
Kiokii is providing a platform for Asian brands to enter the North American market.
Peng said when most people hear the word Kiokii they think of something Asian. The word also sounds similar to the word cute. The word Kiokii was created by Peng to give people the impression of Asia. Also with the brand called ‘Kiokii and . . .’ it gives the impression of more and imagination.
“The idea of the store is bringing the most popular, nice, good quality Asian trendy products to North America,” she said, adding that the majority of products come from Japan, China and Korea.
Retail Council of Canada (RCC) has announced that Jenn Harper, Founder and CEO of Cheekbone Beauty Cosmetics Inc., will receive the 2025 Independent Retail Ambassador of the Year Award. The honour recognizes Harper’s transformative role in Canadian retail as the visionary behind the first Indigenous-owned cosmetics company in North America.
Harper’s journey with Cheekbone Beauty has been marked by a steadfast dedication to sustainability, cultural celebration, and social impact. What began as a bold vision has grown into a powerful brand that now sets new standards for inclusivity, ethics, and environmental responsibility in the beauty industry.
“Jenn Harper is redefining what it means to lead with purpose in retail,” said Diane J. Brisebois, President and CEO of Retail Council of Canada. “Her limitless energy, innovative spirit, and deep-rooted commitment to community are exactly what the Independent Retail Ambassador of the Year Award is about. We are thrilled to honour her outstanding achievements.”
Jenn Harper, Founder and CEO of Cheekbone Beauty
A Trailblazing Indigenous-Owned Brand
Founded in St. Catharines, Ontario, Cheekbone Beauty was created to fill a gap in the cosmetics industry—providing high-quality, ethically made beauty products while honouring Indigenous culture and storytelling. The brand has since built a strong presence across North America, both online and through select retail partnerships.
As a certified B Corporation, Cheekbone Beauty has also emerged as a leader in sustainable packaging and clean beauty, offering vegan, cruelty-free, and low-waste products. The company’s approach challenges an industry often criticized for its environmental impact, demonstrating that success and sustainability can go hand-in-hand.
Harper remains intimately involved in the day-to-day operations of the brand, particularly in product development. “Every product we create tells a story—it carries meaning, purpose, and a message of representation,” Harper has shared in past interviews. “It’s about more than makeup. It’s about identity, empowerment, and change.”
Giving Back to Community
Beyond business growth, Harper has made community impact a core pillar of her work. Cheekbone Beauty has contributed significantly to Indigenous communities across Canada through donations, mentorship programs, and a dedicated Scholarship Fund that supports emerging Indigenous leaders and entrepreneurs.
In addition to funding, the company provides product donations and speaking engagements that raise awareness about the importance of reconciliation and Indigenous representation in retail. These efforts have positioned Cheekbone Beauty not only as a brand, but as a platform for systemic change.
Industry Recognition and Upcoming Awards Gala
The Independent Retail Ambassador of the Year Award will be presented to Harper at the Excellence in Retailing Awards Gala on June 3, 2025, at the Toronto Congress Centre. The event serves as a capstone to RCCSTORE25, the Retail Council’s national retail conference that runs from June 3–4.
Now in its 2025 edition, RCCSTORE will host over 75 speakers and attract leading figures from across North America. Attendees will gather to celebrate the achievements of retailers like Harper who are helping to reshape the retail landscape through innovation, ethics, and vision.
About Cheekbone Beauty Cosmetics Inc.
Cheekbone Beauty is an Indigenous-owned Canadian beauty brand, best known for its clean, vegan colour cosmetics that blend modern formulations with Indigenous storytelling. The company was founded by Jenn Harper with a mission to advance Indigenous representation, create sustainable beauty solutions, and contribute to social change. Cheekbone Beauty is a certified B Corporation, reflecting its commitment to the highest standards of environmental and social performance.
Triovest booth at an ICSC conference. Image: Triovest
Colliers International Group Inc. has announced a landmark acquisition that will reshape Canada’s commercial real estate landscape. The Toronto-headquartered global real estate services firm has entered into a definitive agreement to acquire 100% of Triovest’s Canadian operations from Calgary-based Coril Holdings.
The deal, expected to close by the end of Q2 2025, will see Triovest — one of Canada’s leading commercial real estate management and advisory firms — fully integrated into Colliers’ operations, significantly strengthening its domestic position. Financial terms of the transaction were not disclosed.
“This is a strategic move that accelerates our growth and cements our leadership in the Canadian market,” said Brian Rosen, President & CEO of Colliers Canada, in a statement.
Coril Holdings Shifts Strategy as Triovest Joins Global Brand
Coril Holdings, a private asset manager headquartered in Calgary, has owned Triovest since its inception. The company also owns Minnesota-based Loram Maintenance of Way, a global provider of railway maintenance services and equipment.
“After many years as a privately held company, we believe now is the time to accelerate Triovest’s growth by merging its operations with Canadian-based Colliers, one of the top global players in commercial real estate,” said Deanna Zumwalt, president and CEO of Coril Holdings, in a statement.
The divestment aligns with Coril’s broader strategy of focusing on its global industrial assets.
What the Acquisition Means for Colliers and Triovest
Colliers, a publicly traded company listed under the ticker CIGI-T, operates a diversified global platform that spans real estate services, engineering, and investment management. As of the end of 2024, the firm reported revenues of US$4.82 billion, assets under management (AUM) of US$99 billion, and a global team of 23,000 professionals.
Triovest, founded in 1995, has carved out a strong reputation in Canada for providing asset, property and development management services across all major commercial real estate asset classes. The company manages approximately 36 million square feet of property and has $2.5 billion in projects currently under development. In 2024, Triovest reported revenues of approximately $70 million.
With this acquisition, Triovest’s brand will be phased out as its operations are integrated into Colliers. The combined entity will employ more than 3,000 people across Canada, manage over 95 million square feet of commercial real estate, and oversee more than $15 billion in development projects.
Reinforcing Colliers’ Strength in Asset and Development Advisory
The merger is expected to significantly bolster Colliers’ Canadian platform, particularly in asset management and development advisory. Triovest’s experience and institutional relationships will complement Colliers’ existing strengths, adding depth and scale to the company’s service offerings.
Triovest has been led since 2020 by president and CEO Ted Willcocks, a well-known figure in the Canadian real estate sector. His leadership during the integration period will be instrumental in ensuring a smooth transition.
Part of a Broader Global Expansion Strategy
The acquisition of Triovest is consistent with Colliers’ aggressive growth strategy over the past several years. In 2024 alone, Colliers made multiple high-profile investments and acquisitions aimed at broadening its global footprint and diversifying its services.
In July 2024, Colliers invested US$475 million to acquire a controlling stake in Toronto-based Englobe, a multidisciplinary engineering, environmental, and inspection firm. That same year, Englobe went on to acquire Goodkey, Weedmark & Associates Ltd., further expanding Colliers’ reach in Canada’s engineering and building sciences sectors.
Internationally, Colliers has been active in Australia, acquiring a controlling interest in urban planning and design advisory firm Ethos Urban in February 2025. That followed its 2024 purchases of TTM Group (transportation engineering) and Pritchard Francis (engineering consulting).
The company also strengthened its U.S. operations by acquiring Colliers Philadelphia, a former affiliate, in April 2024.
A New Era for Commercial Real Estate in Canada
By acquiring Triovest, Colliers not only becomes Canada’s largest commercial real estate services firm but also positions itself to compete more effectively in a rapidly evolving and competitive global real estate market. The combined company will benefit from increased scale, operational efficiencies, and a broader client base spanning institutional and private investors.
The acquisition also reflects a broader consolidation trend in Canada’s commercial real estate sector, as firms seek to increase competitiveness through expanded services, greater geographic reach, and digital transformation.
Yorkdale Shopping Centre in Toronto. Image: Oxford Properties
Oxford Properties Group has once again demonstrated its dominance in Canada’s retail landscape, with its portfolio of shopping centres in the Greater Toronto Area (GTA) among the leaders of the 2024 ICSC performance rankings. According to ICSC’s newly released data, the Yorkdale Shopping Centre ranks as the top-performing mall in Canada for all-store sales per square foot, posting $2,301 — more than $800 higher than any other shopping centre in the country.
Robert Horst, Vice President of Retail at Oxford Properties Group, credits the milestone to a deliberate, long-term strategy. “Yorkdale’s success as a global market leader is the result of a deliberate strategy to assemble one of the world’s best luxury portfolios,” said Horst. “This curated leasing approach has disrupted the Canadian retail landscape.”
Robert Horst, Vice President of Retail at Oxford Properties Group
Yorkdale continues to attract the world’s top luxury brands, with Dior, Maison Margiela, and Rimowa set to open in a new luxury wing in 2025. This follows the 2024 arrival of Loewe, Loro Piana, and a new Tiffany & Co. concept store in the mall. The luxury expansion coincides with Yorkdale’s 60th anniversary and includes a major redevelopment of its central corridor to accommodate growing demand from global fashion houses.
Square One and STC Show Continued Momentum
Oxford’s success isn’t limited to Yorkdale. The company’s other GTA centres also performed strongly:
Square One Shopping Centre in Mississauga posted $1,286 psf, up 2.2% from the previous year.
Scarborough Town Centre (STC) rose to $966 psf, marking a 4.3% increase.
Square One benefits from its strategic location in the rapidly densifying Square One District, where high-rise residential developments continue to fuel foot traffic. Last week Oxford announced that a YMCA would be moving into a former theatre space at the centre. “Square One and STC offer an unprecedented mix of destination brands and rightfully find their place high on this year’s list,” noted Nadia Corrado, Vice President of Asset Management at Oxford. “Increased residential developments both in Mississauga and Scarborough are poised to accelerate both population and retail performance.”
Square One’s retail lineup includes Holt Renfrew, Simons, and Rolex, as well as culinary and lifestyle anchors such as The Food District and Whole Foods. STC, on the other hand, has carved out a niche by attracting destination retailers like IKEA and Uniqlo, further solidifying its role as a regional hub east of Toronto.
New luxury wing in the Yorkdale Shopping Centre in Toronto. Photo: Craig Patterson
Other Top Performers Across Canada
While Oxford claims three of the top 25 Canadian malls by performance, other landlords also made notable showings in the 2024 ICSC report:
Cadillac Fairview (CF) holds several top spots, with CF Toronto Eaton Centre ($1,500 psf), CF Pacific Centre in Vancouver ($1,454 psf), and CF Richmond Centre ($1,359 psf) ranking just behind Yorkdale.
Ivanhoé Cambridge, often in partnership with Jones Lang Lasalle (JLL), performed strongly in Alberta and British Columbia with Southgate Centre ($1,211 psf) and Metropolis at Metrotown ($1,138 psf).
Primaris REIT also emerged as a steady mid-market performer, with Halifax Shopping Centre ($1,034 psf) and Conestoga Mall ($918 psf) leading in secondary markets.
A National Picture: Polarization in Performance
The data reveals a growing gap between Canada’s most productive malls and lower-tier centres. Only Yorkdale surpassed the $2,000 psf threshold, solidifying its place as Canada’s most productive mall by a significant margin. Meanwhile, a majority of properties reported sales below $1,000 psf, with over a dozen falling under $600 psf.
Ontario continues to dominate the rankings, led by Yorkdale, Square One, and CF Toronto Eaton Centre. However, strong performances in British Columbia (CF Pacific Centre, Metrotown, CF Richmond Centre) and Alberta (CF Chinook Centre, Southgate Centre) highlight regional vitality. Quebec also made a solid showing with CF Carrefour Laval ($1,140 psf) and Le Centre Eaton de Montréal ($1,141 psf), the latter enjoying a substantial 2023-24 gain of $127 psf.
Who Owns the Top Malls? A Look at Landlords
Ownership and management patterns show a concentration among a handful of players:
Cadillac Fairview dominates with multiple properties in the top 15.
Oxford Properties leads in psf average across its top three GTA centres.
Ivanhoé Cambridge and Primaris maintain strong regional portfolios with consistent mid-tier performance.
Westcliff Group and Morguard appear frequently in the mid and lower tier segments.
Canadian-born designer Cody Aker is making his mark on the international fashion stage with his London-based label ARSENY. Born in Calgary, Alberta, far from fashion’s traditional centres, Aker has built a brand that questions identity and reshapes ideas of masculinity. His journey reflects a broader trend of Canadian creatives seeking global platforms while drawing on uniquely personal experiences.
Aker’s path to launching ARSENY began in retail, not design studios. He worked at Louis Vuitton and Prada, where he observed how luxury brands cultivate both craftsmanship and storytelling. These formative years were about more than selling garments. They introduced him to the machinery of global luxury: the codes of service, the balance of exclusivity and accessibility, and the importance of client engagement.
“Working in luxury exposed me to fashion’s systems. With ARSENY, I wanted to turn that insight towards building something values-based, critical and new,” he has said. This philosophy anchors his brand in reflection as much as aesthetics.
The guiding philosophy of ARSENY
ARSENY revolves around the principle of UNMASC — a recognition that masculinity, so often positioned as truth, is in fact a performance. Through this lens, clothing becomes a tool to reveal the constructed nature of identity rather than conceal it.
Aker’s garments are built on contrasts. A traditional roll-neck knit is unsettled by a jacquard pattern that appears to glitch between organic textures and digital pixels. Tailoring takes familiar forms but rebalances its lines, subtly shifting proportions off-centre. These are not loud disruptions but quiet interventions, inviting wearers to notice, to question, and to reinterpret.
The clothing remains wearable, resisting the trap of becoming pure concept. Aker insists that ARSENY is not about spectacle for spectacle’s sake but about creating garments that are lived in and thought through. The paradox of ARSENY lies in its ability to be experimental while remaining accessible.
Recognition within London’s fashion ecosystem
Though still an emerging label, ARSENY has already begun to register within London’s highly competitive fashion ecosystem. Aker’s work has appeared on a London Fashion Week runway, garnered support from the British Fashion Council, and earned a feature on SHOWstudio, a digital platform known for spotlighting forward-thinking fashion.
These signals matter. London is a crucible for innovation, often regarded as the most conceptually daring of the four global fashion capitals. Designers such as Alexander McQueen, JW Anderson, and Craig Green built their reputations there by interrogating identity and subverting norms. ARSENY’s arrival aligns with this lineage, situating Aker within a city known for giving young talent room to experiment.
ARSENY campaign image, image: ARSENY
London as a launchpad for Canadian designers
Aker is not alone in choosing London as the place to develop a career. The city has long attracted Canadian designers seeking both training and visibility. Erdem Moralıoğlu, born in Montreal, established his eponymous label in London after studying at the Royal College of Art, and today his brand is stocked globally. Thomas Tait, originally from Montreal, also found early recognition in London, winning the inaugural LVMH Prize in 2014.
This migration reflects both opportunity and necessity. Canada’s domestic market, while sophisticated, is comparatively small and lacks the infrastructure to support young designers at scale. London, by contrast, offers access to industry institutions, media platforms, and global buyers. Aker’s own decision to study at the University of Westminster — a program known for producing forward-looking designers — placed him within this ecosystem.
The broader menswear conversation
Aker’s work arrives at a moment when menswear itself is in flux. Over the past decade, fashion has shifted from rigid tailoring traditions toward an embrace of fluidity, comfort, and cultural commentary. Designers like Kim Jones at Dior Men and the late Virgil Abloh at Louis Vuitton pushed the boundaries of what men’s fashion could signify, blending streetwear codes with luxury craftsmanship.
ARSENY does not directly mimic those approaches but instead asks a different question: what happens when masculinity is treated not as a fixed state but as an ongoing negotiation? In this way, Aker’s brand participates in a global dialogue about identity while offering a uniquely Canadian perspective shaped by distance from fashion’s historic centres.
Balancing contradiction and openness
In interviews and statements, Aker has consistently resisted framing ARSENY as a definitive debut or as the next great disruptor. He sees fashion as “a space for becoming,” a platform where garments function as instruments for exploration rather than conclusions. This stance resists the pressure to codify a new set of rules and instead emphasizes inhabiting contradiction.
The appeal of ARSENY lies in its openness. Aker is not dictating how masculinity should look but rather inviting wearers to dwell in uncertainty. In a fashion industry often driven by trends, declarations, and absolutes, this emphasis on remaining “unfinished” is a radical form of generosity.
Canadian contributions to global fashion
ARSENY also underscores the growing influence of Canadian-born talent in international fashion. Beyond Moralıoğlu and Tait, names such as Aurora James, founder of the New York-based brand Brother Vellies, and Jason Wu, known globally for his womenswear and work with high-profile clients, have carried Canadian sensibilities abroad.
What these designers share is not a single aesthetic but a perspective shaped by Canada’s cultural plurality and geographic remove. Aker’s Calgary upbringing offered distance from fashion capitals, which in turn may have given him the freedom to question assumptions. His London base allows him to translate those questions into a global language.
Looking ahead for ARSENY
As ARSENY evolves, the label is positioning itself not through seasonal hype but through sustained inquiry. For Canadian retail watchers, this trajectory is significant. It highlights how homegrown talent is finding resonance in international arenas while maintaining connections to Canadian identity.
The road ahead will likely see ARSENY build greater visibility through shows, editorial coverage, and retail partnerships. Yet Aker remains clear that growth should not compromise the brand’s guiding principle: fashion as a space for dialogue, not prescription.
