Dollarama, Canada’s premier dollar store chain, has announced significant expansion plans, including the establishment of a new distribution center in Calgary and an ambitious increase in its national store count.
The retailer has invested $46.7 million to acquire land in Calgary, where it plans to construct a state-of-the-art warehouse and distribution center to enhance service across Western Canada. The transaction is expected to close in the fourth quarter of fiscal 2025, with the facility slated to be operational by the end of 2027.
In response to consistent positive customer feedback and a reassessment of market potential, Dollarama has increased its Canadian store target to 2,200 locations by 2034, up from the previous goal of 2,000 stores by 2031. Currently operating 1,541 stores, this new objective entails opening approximately 67 new stores annually, aligning with the company’s recent expansion pace.
Financial Performance Highlights
Dollarama reported a third-quarter profit of $275.8 million, or 98 cents per diluted share, marking an increase from $261.1 million, or 92 cents per diluted share, in the same period last year. Sales rose by 5.7% to $1.56 billion, with comparable store sales growing by 3.3%. This growth was driven by a 5.1% increase in transaction volume, despite a 1.7% decline in the average transaction size.
Historical Context and Leadership
Founded in 1992 by Larry Rossy, a third-generation retailer, Dollarama opened its first store in Matane, Quebec. The company has since expanded significantly across Canada, offering a wide range of products, including cleaning supplies, toys, groceries, and more. In 2016, Larry Rossy transitioned the CEO role to his son, Neil Rossy, who continues to lead the company today.
Competitive Landscape
Dollarama operates in a competitive market alongside retailers such as Dollar Tree Canada, which operates over 200 stores nationwide, and Great Canadian Dollar Store, with well over 100 locations. Despite this competition, Dollarama maintains a significant market presence, with over 1,500 stores across Canada as of 2024.
The forthcoming Calgary distribution center is expected to optimize Dollarama’s warehousing and distribution operations, supporting its growth plans and generating cost savings. This facility will enhance the company’s supply chain efficiency, particularly in Western Canada, aligning with its expansion strategy.
Economic Context
Amid economic uncertainties and shifts in consumer spending habits, Dollarama’s value-oriented model has resonated with cost-conscious consumers. The company’s ability to offer a wide array of affordable products positions it favourably in the current retail landscape.
Future Maison Margiela store at the Yorkdale Shopping Centre in Toronto. Photo: Craig Patterson
Maison Margiela, the avant-garde fashion house renowned for its innovative designs, is making a bold debut in the Canadian market with two highly anticipated store openings. The first, a 1,747-square-foot boutique, is under construction in Toronto’s Yorkdale Shopping Centre and will open Spring/Summer 2025. A second location is set to follow in the summer of 2025 at Vancouver’s Oakridge Park.
Yorkdale’s New Luxury Wing Welcomes Maison Margiela
The Yorkdale Shopping Centre store will be located in the mall’s new 65,000-square-foot luxury wing, which is currently under development in the heart of the shopping centre. Maison Margiela will be in close proximity to other global luxury brands. A Rimowa boutique is opening next door, while Versace and Jimmy Choo have recently debuted just across the hall. Additional luxury tenants already unveiled in the wing include Brunello Cucinelli, Loewe, and Loro Piana, with more high-end brands on the way.
Yorkdale has cemented its position as Canada’s top luxury shopping destination, attracting international brands and affluent shoppers alike. This latest expansion is part of a $28 million investment aimed at enhancing the mall’s already impressive roster of luxury retailers, including Louis Vuitton, Tiffany & Co., and Bottega Veneta among others.
Under development: New luxury wing at Toronto’s Yorkdale Shopping Centre. Photo: Craig Patterson
Maison Margiela’s second Canadian boutique will open in Vancouver’s Oakridge Park, a transformative development that is set to redefine luxury retail on the west coast. Scheduled for a summer 2025 debut, the store will join a roster of high-profile tenants, including Louis Vuitton, Prada, and Versace, in a mixed-use space that combines high-end shopping with residential and community amenities.
The addition of Maison Margiela to Oakridge Park highlights the development’s ambition to become a premier luxury shopping destination, competing with Vancouver’s established downtown core. The Margiela store, according to lease plans, will be in the ‘North Arcade’ of the mall near other brands such as Christian Louboutin and Alexander Wang.
Inside the Maison Margiela store in Seoul. Photo: Margiela
Negotiated by DWSV Realty
The leases for Maison Margiela’s Yorkdale and Oakridge locations were negotiated by David Wedemire and Stan Vyriotes of DWSV Realty, who represented the brand in its discussions with Yorkdale’s landlord, Oxford Properties and QuadReal, landlord for Oakridge Park. DWSV Realty has a track record of securing prime locations for luxury retailers, including other high-profile leases within Yorkdale, Oakridge Park and other luxury nodes in Canada.
Recently opened retailer in the new luxury wing at Toronto’s Yorkdale Shopping Centre. Photo: Craig Patterson
Maison Margiela: Redefining Fashion
Founded in 1988 by Belgian designer Martin Margiela, the brand is celebrated for its deconstructive designs and unconventional use of materials. Maison Margiela’s unique aesthetic, which often reveals the structural elements of garments, has earned a cult following among fashion enthusiasts and established its reputation as a leader in avant-garde fashion. Today, the brand is part of OTB Group (Only The Brave), a fashion conglomerate founded by Renzo Rosso that includes other luxury names such as Diesel, Amiri, Jil Sander, Marni, and Viktor&Rolf.
Maison Margiela’s choice of Yorkdale and Oakridge Park for its Canadian debut underscores the brand’s focus on strategic market entry. Both locations offer access to affluent shoppers while reinforcing the brand’s positioning within the global luxury retail market. Retail Insider will follow up when these stores open next year.
Crunch Fitness is accelerating its growth in Canada with a significant boost from new investment partners, Trive Capital and 808 Capital Partners. The Cambridge, Ontario-based master franchisee has its sights set on an ambitious expansion strategy, aiming to become a dominant force in Canada’s fitness industry. With over 90,000 members already served across 19 corporate-owned clubs and another 45,000 members in 13 franchised locations, the company is poised for exponential growth.
A Strategic Partnership to Drive Growth
The partnership with Trive Capital and 808 Capital Partners brings financial resources and strategic expertise to Crunch Canada, enabling the company to scale its operations and pursue new opportunities. Wes Hodgson, CEO of Crunch Canada, expressed his excitement about the collaboration.
Wes Hodgson, CEO of Crunch Fitness Canada
“We are thrilled to partner with Trive and 808, who share our vision for delivering an exceptional fitness experience to our members,” Hodgson said. “This partnership allows us to enhance our capabilities, expand our leadership team, and capitalize on several near-term growth opportunities, including new club openings and select acquisitions.”
Trive Capital, a Dallas-based private equity firm, has a proven track record in the fitness sector, having previously invested in JF Fitness of North America, a Crunch franchisee in the United States. Jared Reyes, Managing Director at Trive Capital, emphasized the potential of the Canadian market.
“We are impressed with the Crunch Canada team’s ability to open and operate clubs while supporting its network of franchisees,” Reyes said. “The Canadian fitness market offers significant opportunities for expansion, and Crunch is well-positioned to capture additional market share with its high-amenity, affordable offering.”
Photo: Crunch Fitness Canada
Expanding Across Canada
Crunch Canada’s expansion strategy focuses on both corporate-owned and franchised clubs, targeting urban hubs and smaller communities alike. The company aims to open 12 to 15 locations annually, with plans to reach underserved markets across Ontario, Alberta, Quebec, and British Columbia.
“Our goal is to bring Crunch Fitness to every community in Canada,” Hodgson said. “We see untapped potential in both high-density areas like Toronto and smaller towns where access to affordable, high-quality fitness facilities is limited.”
In addition to organic growth, Crunch Canada is exploring acquisition opportunities to accelerate its footprint. The recent investment will also support innovations in member experience, such as upgraded amenities and new programming.
Crunch Canada’s brokerage partner, Titan York, led by Aaron Graben, has been instrumental in negotiating leases
A Unique Value Proposition
Crunch Fitness operates in the “high-value, low-price” segment, offering premium amenities at a fraction of the cost of traditional gyms. Memberships range from $10 to $34 per month, depending on location and services.
“Our model is about democratizing fitness,” Hodgson said. “We provide boutique-level amenities like hydro-massage, red light therapy, and group fitness classes, but at an accessible price point. This resonates strongly with Canadians who are seeking value without compromising on quality.”
Crunch’s proprietary HITZone, a high-intensity interval training space, exemplifies the brand’s innovative approach. Members enjoy boutique-style programming integrated into larger gym formats, offering flexibility and value.
Photo: Crunch Fitness Canada
Technology and Real Estate Strategy
Advanced technology plays a pivotal role in Crunch Canada’s site selection and operational efficiency. Tools such as Place AI and Buxton help identify ideal locations based on demographic and market data, ensuring each new club is strategically positioned for success.
“Technology has been a game-changer for us,” Hodgson explained. “It allows us to replicate the success of our top-performing locations by targeting similar demographics in new markets.”
Securing prime real estate is another key focus. Crunch Canada’s brokerage partner, Titan York, led by Aaron Graben, has been instrumental in negotiating leases in competitive markets like Toronto and Vancouver.
A Legacy of Growth
Crunch Canada’s roots trace back to 1976, when the Hodgson family opened its first fitness club in Kitchener, Ontario. Wesley Hodgson, who became CEO in 2010, expanded the family business and acquired the Crunch master franchise rights for Canada in 2017. Since then, the company has grown steadily, earning a reputation for innovation and member satisfaction.
“The North American fitness industry is thriving as more consumers prioritize health and wellness,” said Shravan Thadani, Partner at Trive Capital. “Crunch’s model of high amenities at affordable prices positions it as a leader in this growing sector.”
Looking Ahead
As Crunch Canada embarks on its next phase of growth, the company remains committed to its core values of inclusivity and community. Hodgson envisions Crunch locations as vibrant hubs where people of all backgrounds come together to prioritize their health.
“Our gyms are more than just places to work out—they’re places to connect, recharge, and thrive,” Hodgson said. “With the support of our new partners, we’re excited to bring the Crunch experience to even more Canadians.”
Chequan Lewis, President of Crunch Fitness, echoed this sentiment. “We are proud to see Trive and 808’s continued investment in Crunch. Their support will enable Wes and the team to strategically grow our footprint in Canada and deliver our unique fitness experience to a broader audience.”
Foxy Box Laser & Wax Bars, with its start in Victoria, is set on a path of unparalleled growth – without losing the essence of what makes it unique. From 2020 to 2024 the franchise business rapidly expanded, scaling from four locations in 2020 to 18 to date in 2024, with continued expansion across Canada and into the US forecasted for 2025.
Founded in 2012 by Kyla Dufresne, Foxy Box was built on a foundation to create a unique and empowering experience for all clients. Being one of the first wax bars to remove gender terms in services and offer the same price for services, regardless of gender, Foxy Box’s talented “Vagicians” offer services in an inclusive, safe and comfortable environment.
Its approach to empowering and making customers feel powerful has resulted in some impressive revenue numbers. From 2020 to 2023 Foxy Box saw a 356% increase in system-side revenue from $2.1M+ to $9.6M+.
Kyla Dufresne
Not slowing down anytime soon, Foxy Box is expanding in Quebec with eight new locations scheduled to open over the next five years, and launching in the US market in 2025.
“My very first location was actually the dining room of my shared house when I was 24 years old. I was a bartender at the time. I quit my job. I put myself through school and then I made little business cards called FoxyBox with my cellphone number on it and it had my home address on it,” said Dufresne.
“I grew really quickly . . . I found my own space downtown and I guess my very first Foxy Box location was six or eight months after that. We’ve grown since those humble beginnings. We have 18 open and three more under construction. We’ll have 21 locations open by the end of February.”
Foxy Box is currently located in BC, Alberta and Ontario with two new stores opening in Quebec after signing on a master franchise partner who are scheduled to open eight locations over the next five years.
Photo: Foxy Box
Dufresne owns two of the locations and the rest are franchised.
“Where am I driving this rocket ship to? My big hairy, audacious goal is to get to 150 locations. We are entering into the U.S. market. We are planning on launching quarter two of next year. I imagine we probably could get to maybe 50 locations in Canada but the U.S. is where we can really scale. We’re going to market in the U.S. next year,” she said.
“Beyond that I see Foxy Box as a global brand. I’ve secured my trademark in the UK and in Australia.
“We’re not just a hair removal business. We’re in the business of self-empowerment. Our goal is to leave every customer feeling powerful and energized. That’s what we aim and strive to do. We’ve created a brand, not just a business. We’re not all about just a transaction for hair removal. We really do impact the communities that we’re in.”
For example every year the company hosts an event Foxy Fest, inspired by Lilith Fair. It’s held on International Women’s Day and the company has done it for the last five years, raising money for local charities.
The company also every year has a Customer Appreciation Day.
“We’re a gender neutral salon. We’re the first wax bar in Canada to go gender neutral. In the past we used to have female services and male services . . . We’ve removed gender from all of our verbiage and we’re based on anatomy.”
Also at each of the locations, about 95 per cent of the waste is recycled, using a program with Green Circle.
Craig and Myriam Belzile-Maguire, Founder and Designer at Maguire Shoes, discuss the remarkable growth of the Montreal-based footwear brand she founded. Known for its direct-to-consumer model, the brand offers high-quality shoes at affordable prices by cutting out traditional wholesale markups. Myriam shares how her experience as a designer inspired the creation of a mid-range price point in leather footwear that bridges the gap between budget and luxury. Maguire’s unique business approach has been instrumental in its success, allowing the brand to maintain fair pricing while delivering exceptional quality.
Maguire Shoes has expanded significantly since its inception, starting with a small Montreal shop and growing to include locations in Toronto, New York, and soon, Brooklyn. Myriam explains the strategic importance of being in trend-driven neighborhoods with vibrant local life, such as Nolita in Manhattan, to enhance visibility and attract fashion-savvy customers. Physical stores have also positively impacted online sales, with half of the brand’s revenue now generated through e-commerce.
Beyond footwear, Maguire has diversified its product line to include accessories such as gloves and jewelry, inspired by collaborations with trusted manufacturers. As the brand continues to explore new markets and refine its offerings, Myriam hints at potential future ventures, including a possible expansion into men’s footwear. Despite rapid growth, Maguire Shoes remains committed to its Canadian roots, ensuring competitive pricing for local customers while capturing global attention through innovative designs and strategic retail placement.
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Splitsville Entertainment, a family entertainment chain specializing in bowling, arcades, and upscale food and beverage offerings, is making major strides in its Canadian expansion. With 13 locations already open with two to open in early 2025 in Kanata, Ontario and northwest Calgary, the company is positioning itself as a leader in the modern bowling experience.
“We’ve taken a page from the evolution of movie theatres. Bowling centres today are a mix of traditional lanes, cutting-edge game rooms, and upscale food and beverage offerings. We’re creating an immersive guest experience with state-of-the-art lighting, audio-visual technology, and comfortable seating. It’s all about elevating the fun for families, friends, and even corporate groups.
“We like to think of ourselves in leading the trend in the guest experience. We’re truly trying to make sure that that guest experience is fairly high. Ultimately our goal is to have people return more sooner than later.”
With Edmonton slated for its latest development, Splitsville plans to open a new location at Christy’s Corner in late 2025. This will bring the total number of Canadian locations to 16. Haggerty is optimistic about the region’s potential, noting its well-planned infrastructure.
“Edmonton has a fantastic ring road system, which makes it easy to move around the city,” he explained. “Our vision is to have four centres here: Northwest, Northeast, Southwest, and Southeast. The goal is for anyone in Edmonton to have a Splitsville nearby for easy access to top-tier entertainment.”
Photo: Splitsville
Splitsville isn’t stopping at Edmonton. Haggerty outlined ambitious plans to grow the chain to 30-35 locations nationwide, targeting major urban centres and feeder communities like Red Deer, Medicine Hat, and Lethbridge.
“Canada’s urban centres are ripe for family-friendly entertainment options,” Haggerty said. “With our unique blend of recreation, sport, and leisure, we’re tapping into a market that caters to everyone from kids to retirees.”
One of Splitsville’s core strengths is its broad appeal. “Bowling has been around for 5,000 years, and for good reason,” Haggerty shared. “It’s accessible to everyone—from toddlers to seniors and even those with physical or mental challenges. We offer sport, recreation, and entertainment, ensuring there’s something for everyone at any time of day.”
The company’s programming reflects this diversity. “We have leagues early in the week, corporate events on Thursdays and Fridays, and families during the weekends,” he added. “Millennials and younger crowds love our late-night vibe. It’s a wave of different guests filling our spaces at different times, which makes it so exciting.”
Haggerty emphasized that Splitsville’s success hinges on delivering consistent, high-quality guest experiences that keep patrons coming back. “We’re all about creating an environment that people want to return to sooner rather than later,” he said. “With every location, we’re fine-tuning what works to ensure we’re the go-to destination for fun and entertainment.”
As Splitsville Entertainment prepares to break ground on its Edmonton project, Haggerty is optimistic about the future. “We’ve done our homework, and we know there’s a strong demand for what we offer,” he concluded. “Edmonton residents can look forward to a fantastic entertainment option that’s worth the wait.”
Splitsville is bringing a modern bowling and arcade experience to Edmonton:
21 lanes of 10-pin bowling with digital scoring equipment, interactive bowling games, comfortable seating, VIP lanes, and lane-side food and drink service.
State-of-the-art arcade to bring out the kid in everyone featuring games from arcade classics to the newest VR technology and an impressive prize redemption counter.
Bar and lounge with casual dining, pool tables, and all your favourite sports games.
Photo: Splitsville
In 2022, he had a company called Splitsville with five family entertainment complexes across Canada. He was looking to expand and met the folks at Hollywood Bowl, who own 80 centres in the UK.
In May 2022, Haggerty sold them the five locations and they retained him as President.
“When we look at Canada, there’s seven, eight major cities.
We want to be in all of those. We want to be sort of in their feeder, when I call it feeder communities and specific say to Alberta, we would like to be in Red Deer, Medicine Hat, Lethbridge at some point, but really our concentration right now is in the bigger urban areas like Calgary, like Edmonton,” he said.
“We will actually create programs through the days of the week and the times of the day to be attracting anybody and everybody that can make their way to our facilities to ultimately have a really good guest experience. Create that experience so that they are coming back more sooner than later, so essentially anybody that’s out there really becomes sort of a client of ours. Where our heavier concentration comes from we’ll have the leagues during the early part of the week the Mondays, the Tuesdays, the Wednesdays then we migrate into more corporate in the Thursdays and Fridays, and then we’re into families, daytime, Saturdays and Sundays with the Millennials coming later at night.”
Retailers are disproportionately targeted by cybercriminals, with about 24% of cyberattacks globally aimed at this sector, she says.
“And within that, what we’re seeing is 30% of those attacks are typically phishing, so that would be the common techniques that you would see, such as emails being the most common one, but more and more we’re seeing phone phishing as well as text phishing as part of newer trends,” says Regen.
“The second one would be malware. The third one would be ransomware with approximately 13% of attack and malware being approximately 20%. And then the remaining percentage are spread between 10% denial of service attack and the last one are all other types of threats that we’re seeing in the market.”
She said phishing is essentially a social engineering technique that aims for someone to be able to have you create an action that in turn will help them either gain access to your personal information or access to your device such as your computer.
“The most common way that we’ve seen it over the past 10 years is you would receive an email with some sort of a call to action, a sense of urgency is usually the key technique that they use that would request of you to take a specific action.
“The two most common types of action would be for you to click on a link and typically what happens next is they want to harvest your credential. So they want you to log into a website that is meant to look legitimate, for example, but isn’t in a way to capture your username and password.”
Another one that is being seen is people wanting you to download a file, which is a malicious file that once downloaded into your computer, for example, would enable them to take various actions. Some of the actions that we’re seeing is they will monitor what you’re typing on your keyboard.
So then and there they can get your credentials, your passwords, and so on and so forth.
And then depending on whether it’s your personal laptop or your work laptop, it may actually allow them to maneuver within the infrastructure of the organization, escalate the privileges, and then do a lot more damage when that happens.
“Retailers actually have access to customers. So the impact that they can have by targeting a retailer in gaining access to personal information can be quite significant,” said Regen.
“Essentially, the more the trend that we’re seeing in the retail industry right now is to gather a lot of data around customers. And that amount of data is very beneficial for trends such as targeted marketing, personalization of the services or the products that customer they’re getting to. But the flip side of this is, this is a well of data that malicious threat actors can try to get access to to create damage, not only to the retailer itself, but also to the area of customers.”
There’s also the very appealing additional factor, which is credit card information.
“The first and the best recommendation that we tend to give over here at EY is to look for a proactive and preventative approach.
Now, what does that mean? Proactive means essentially be ready for a potential negative exploit to arrive within your organization. We often say in cybersecurity, it’s not if, it’s when. So the devil will be in the detail of how prepared are you to respond when something occurs and there’s various elements that goes into preparedness that can be around.
“Do you have the right playbook so that you know exactly what to do, who to call and what to execute. Should something happen? Have you tested this playbook so that you can see how all of the different people in your organization that have to be mobilized work together and invent an incident to effectively respond to this incident.
“Do you have the right providers supporting you if something happens that you’re ready to call? Like incident response retainer is a very common thing that organizations do in those instances. That would be for, say, the preparedness aspect. Now, the additional proactive aspect is think about having the right security guardrails within your organization.”
People need to be ready for any cyber risk
Humans need to be ready. That means train your employee in recognizing something that looks suspicious. Train them to be able to recognize phishing emails, for example, or voice phishing email, for example, and so on and so forth. Test their knowledge and don’t go beyond the basics.
And what kind of technologies have you invested in to have the ability to effectively respond to more sophisticated type of attacks.
“Think proactively, holistically and strategically about the right mix of technical and non-technical security controls that will allow you to both protect your parameters, but also make sure that the people within your parameter have the ability to recognize and take the right action.”
Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.
Conestoga Mall in Waterloo, Ontario, is cementing its reputation as the dominant regional shopping centre in the area. With recent retail additions, cultural initiatives, and community-focused programming, the mall is well-positioned to cater to the growing Waterloo Region. Managed by Primaris REIT since its $270 million acquisition in July 2023, the mall continues to evolve as a hub for shopping, dining, and entertainment.
A Shopping Destination with Proven Success
Located at 550 King Street North, Conestoga Mall is the largest shopping destination in Waterloo and the most productive in the region. Spanning approximately 585,000 square feet and housing over 130 retailers, the mall offers a mix of high-profile brands and unique experiences. Anchor stores such as Hudson’s Bay, Sport Chek, and Indigo are complemented by standout tenants like Apple, Lululemon, Browns Shoes, and Nespresso. These retailers help drive exceptional sales productivity, with the mall reaching $948 per square foot as of September 2024.
Margaret Povey, General Manager of Conestoga Mall
“We’re proud to be the dominant shopping centre in Waterloo,” said Margaret Povey, General Manager of Conestoga Mall. “Our retailers, from Apple to Nespresso, attract a diverse range of shoppers and are vital drivers of foot traffic.”
Retail Growth and New Openings
Conestoga Mall has seen significant retail expansion in 2024, attracting a variety of new tenants. In May, Carter’s Oshkosh opened a 4,000-square-foot store, specializing in children’s and baby apparel. In July, Amaya Indian Cuisine brought authentic Indian dishes to the mall’s food court, adding to its diverse dining offerings. September was a particularly active month with multiple openings, including Swarovski, which launched a stunning 600-square-foot store showcasing its signature crystal collections and blue interior design. Canadian-owned Quarks also joined the mix, opening a 1,200-square-foot footwear store, while Rocky Mountain Chocolate Factory relocated to a new storefront, offering an upgraded visual experience for customers.
Looking ahead, several exciting retailers will join Conestoga Mall into 2025. Build-A-Bear Workshop is set to open this month, bringing a nostalgic and family-friendly experience. Mado, a Turkish restaurant, will introduce an extensive menu featuring items like baklava and ice cream baklava, further elevating the mall’s dining scene. Poppy’s Bagels, a local favourite known for its Montreal-style bagels and specialty drinks, will open its second location in the mall. Additionally, Ardene will launch a 7,000-square-foot store in the fall of 2025, featuring a wide range of fashion and accessories, while Bikini Village will relocate to a prime space backfilling the former La Vie en Rose location in January 2025.
“Each new retailer enhances the mall’s appeal,” Povey said. “Build-A-Bear is particularly exciting as it brings back cherished memories for many visitors.”
Conestoga Mall offers more than just retail—it serves as a community and cultural hub. The City of Waterloo Museum, located within the mall, is currently hosting Waterloo From Above: 200 Years of Change, a Lego exhibit that has drawn significant attention. The exhibit features historical landmarks recreated in Lego by local community groups, creating a nostalgic and educational experience for visitors of all ages.
“The exhibit has been a huge draw,” Povey shared. “It’s fascinating to see historical buildings crafted from Lego, and it appeals to visitors of all ages.”
Seasonal programming further enhances the mall’s family-friendly atmosphere. This holiday season, the mall is hosting several events, including photos with Santa in a magical fairy garden, a gingerbread cottage experience, and a meet-and-greet with the mischievous Holiday Grump. Additionally, the Maycourt Dreams Tree raffle, a cherished tradition now in its 33rd year, raises funds for local charities and helps strengthen the community connection.
“These events create lasting memories and strengthen our bond with the community,” Povey said.
Grand River Transit made in Lego. Image: Conestoga MallCity of Waterloo Museum. Image: Conestoga Mall
Accessibility and Strategic Location
Conestoga Mall’s prime location and accessibility make it a central destination for residents and visitors alike. The mall is situated at the northernmost stop of the LRT, which connects it to Kitchener and Waterloo’s three major universities. This connectivity ensures a steady stream of student traffic, a key demographic for the mall. Povey highlighted the mall’s outreach efforts, such as its participation in homecoming events with a coffee truck, which further engage the student population.
Waterloo is one of Ontario’s fastest-growing regions, with the city itself experiencing a 4.9% population increase in 2023. Suburban developments and families relocating from Toronto have contributed to this growth, making Conestoga Mall an increasingly vital part of the community.
“Waterloo is thriving,” Povey said. “With the influx of new residents and suburban development, Conestoga Mall is becoming an even more integral part of the community.”
New Swarovski store at Conestoga Mall. Image: Conestoga Mall
A Bright Future Under Primaris REIT
Since its acquisition by Primaris REIT in July 2023, Conestoga Mall has continued to grow and innovate. The ownership transition has brought a renewed focus on attracting first-to-market retailers and maintaining the mall’s status as the premier shopping destination in the region.
“With such a strong community and continued support from Primaris, we’re excited about the future,” Povey said. “Conestoga Mall will remain a cornerstone of retail in Waterloo for years to come.”
The Retail Council of Canada (RCC) is again urging the federal government to take immediate action to end the ongoing Canada Post strike, now approaching its fourth week.
This prolonged strike is negatively impacting retailers of all sizes at the most critical time of the year – as they also struggle to meet their customers’ holiday shopping needs and wrestle to remain viable in challenging economic times, it said in a news release.
“Retail knows that the best labour agreement is negotiated with both parties at the table, but that’s not happening and it’s time to end the strike. In the meantime, thousands of retailers and millions of consumers are paying the price.
“Canada Post is an economic lifeline, delivering parcels, documents, flyers and essential goods. This prolonged strike is now undermining its critical role, eroding trust and driving up costs for retailers and consumers alike.
“By failing to deliver, it is also reversing the retail sector’s investments in online shopping convenience, where Canada Post is a primary delivery provider. Because of the length of this strike, alternative delivery is either unavailable or too expensive – which means shipments are not making it to businesses, stores or customers in time for the holidays.
“The strike is jeopardizing Canadian jobs, and businesses of all sizes are taking a hit. Smaller retail businesses are struggling to ship products and receive payments, straining cash and threatening their survival. Promotional flyers and the best discounts of the year are failing to reach mailboxes, leaving stores with unsold goods. Large retail chains are facing significant costs for alternate flyer and product distribution, risking sales as consumers turn to international competitors with alternate delivery options.
“It’s a strange paradox: The government hopes to make holiday shopping more affordable with an HST-GST tax holiday, while a strike at its Crown Corporation Canada Post is making e-commerce impossible, keeping the best promotional deals out of consumers’ hands, and directing gifts to more expensive delivery methods.
“Compounding the impact of the Canada Post strike, retail businesses big and small have raised alarm bells around the challenges of the HST-GST tax holiday. This includes unexpected IT program changes and costs, customers delaying purchases while missing the best deals of the year on Black Friday, and general in-store confusion around program criteria – with some customers even returning used goods hoping to buy them back tax-free. This is happening at a time when retailers traditionally halt administrative distractions to focus on their highest sales period – as many retailers realize more than half of their annual sales in December alone.”
“It is estimated that the losses in the sector due to the prolonged strike are surpassing the Billion Dollar mark and climbing.”
RCC said retail is Canada’s largest private-sector employer with over 2.3 million Canadians working in our industry.
“This sector is a major economic contributor, generating more than $93 billion annually in wages and employee benefits. In 2023, core retail sales (excluding vehicles and gasoline) exceeded $502 billion. Retail Council of Canada (RCC) members account for more than two-thirds of these core retail sales and 95 per cent of the grocery market. Our membership extends across the country, embracing over 54,000 storefronts in diverse formats such as department, grocery, specialty, discount, independent retailers, online merchants, and quick service restaurants. As the Voice of Retail™ in Canada, RCC, a not-for-profit, industry-funded association, proudly represents retail businesses of all sizes, from small independents to large national chains, in communities nationwide,” said the organization.
