Paris-based cashmere brand KUJTEN is looking to make its first foray outside Europe by entering the Canadian retail market. Known for its premium Mongolian cashmere and modern designs, the brand plans to open stores in Toronto and Montreal, targeting upscale locations.
Aurora Realty Consultants, with Jeff Berkowitz leading the initiative, has been enlisted to spearhead the expansion. The initial focus will be on securing boutique spaces in prime retail areas, ranging from 1,000 to 1,500 square feet.
About KUJTEN: Redefining Cashmere Fashion
Carole Benaroya and Stéphanie Eriksson, founders of KUJTEN
KUJTEN was founded in 2012 by friends Carole Benaroya and Stéphanie Eriksson, who shared a vision to modernize cashmere fashion. Named after Mount Kujten, Mongolia’s highest peak, the brand honours its deep connection to the region known for producing the world’s finest cashmere.
Drawing on their diverse expertise—Benaroya’s finance background and Eriksson’s fashion industry experience—the duo created a brand that marries luxury and innovation. Unlike many traditional cashmere brands that focus on neutral tones and classic cuts, KUJTEN introduces vibrant colours and contemporary designs to its collections. Offerings include sweaters, cardigans, dresses, and accessories designed to appeal to a younger, fashion-forward audience.
With 46 retail locations across Europe, KUJTEN has established itself as a significant player in the luxury cashmere market. The brand operates 39 standalone stores and 7 concessions within department stores, strategically located in high-traffic and high-end retail destinations.
KUJTEN store. Photo: KUJTEN
Aurora Realty Consultants Leading the Way
Aurora Realty Consultants, a Canadian brokerage firm renowned for its expertise in retail real estate, will guide KUJTEN’s entry into the Canadian market. Jeff Berkowitz, a seasoned broker with extensive knowledge of luxury retail, is leading the initiative.
Toronto and Montreal are the initial target cities for KUJTEN’s Canadian expansion, according to Berkowitz. Ideal store locations could include upscale shopping centres and/or upscale shopping streets.
KUJTEN’s Unique Edge in the Cashmere Market
KUJTEN distinguishes itself through its exceptional material quality, contemporary design, and ethical practices. The brand sources its cashmere directly from Mongolia, where it partners with local herders to ensure the finest fibres are used. This approach guarantees superior softness, durability, and eco-friendliness. In addition, KUJTEN’s transparency in sourcing and production resonates with the growing number of consumers prioritizing sustainability.
The brand’s use of bold colours and modern cuts further sets it apart in a market traditionally dominated by neutral tones and classic styles. This differentiation appeals to a younger demographic seeking high-end fashion with a fresh perspective.
Image: KUJTEN
The Competitive Landscape in Canada
The Canadian cashmere market already features strong players, including Italian giants Loro Piana and Brunello Cucinelli, and local brands such as Black Goat Cashmere. These brands are renowned for their timeless elegance, craftsmanship, and exceptional quality, commanding a loyal following among affluent shoppers.
KUJTEN’s vibrant designs and focus on sustainability could provide it with a competitive edge. While its competitors emphasize more classic styling, KUJTEN appeals to modern, fashion-conscious consumers who seek a blend of luxury and individuality.
Furthermore, the brand’s competitive pricing strategy, combined with its emphasis on ethical production, positions it as a unique offering in the market.
Canadian furniture leader, Home Société Group, announced Tuesday that the grand opening of its first Home Société flagship location in Montreal at Royalmount will be on February 28.
“The first of its kind in Quebec, this cutting-edge retail space brings together the group’s brands – Maison Corbeil, MUST, Jardin de Ville – all under one roof. Since launching this concept in Ontario in 2019, with three successful stores now in Ottawa and Toronto, Home Société has established itself as a leader in furniture retail. The new Montreal location will offer the best in furniture, décor, and lifestyle creating an unparalleled shopping destination in the heart of the city,” said the company in a news release.
Walid Laaraba
“With the opening of our Royalmount flagship, we’re redefining the shopping experience for our customers,” said Walid Laaraba, President of Home Société Group. “Bringing together our mid to high-end interior and exterior brands will allow us to create a dynamic space where design and innovation converge, making it easier than ever for customers to explore and personalize their homes.”
The company said the new flagship store spans three floors, each offering a unique experience and several new sections in addition to the current offerings. The store will feature a stunning 12,000-square-foot indoor and outdoor showroom for Jardin de Ville with a terrace overlooking Mount Royal. This space, dedicated to luxury outdoor furniture and decorative accessories, sets a new standard for outdoor living.
It also marks an exciting milestone for Home Société’s curated portfolio with the addition of Kettal, an exclusive new brand known for high-end outdoor furniture and luxury pavilions. This collaboration introduces contemporary design and craftsmanship, setting a new benchmark for sophistication in outdoor spaces, it said.
“Home Société at Royalmount will proudly debut three new dedicated spaces that make it a standout destination, enhancing interior offerings and highlighting key suppliers partnered with Home Société Group. Cattelan Italia and Fourhands are featured with their first dedicated sections in Canada, showcasing their exceptional products. Cattelan Italia’s 4,500-square-foot section presents 100% Italian-made furniture, while Fourhands’ 6,000-square-foot space offers an eclectic mix of contemporary furniture and accessories, blending stylish designs with refined craftsmanship. Additionally, Sub-Zero + Wolf has set up their own boutique within the flagship store, elevating the visitor experience by offering state-of-the-art cooking technology and sophisticated designs to seamlessly complete their home purchases,” noted the company.
“To further elevate the overall shopping experience, Prune Les Fleurs will provide a curated lifestyle offering that extends beyond flowers, showcasing an exquisite selection of plants, décor inspiration, and stylish kitchen accessories.”
The retailer said the new flagship store is a design-led space that enhances the retail journey. Spanning 55,000 square feet over three levels, it stands as the group’s largest retail destination to date.
“The design is minimalist and timeless, featuring large, luminous windows, a terrace with stunning views of Mount Royal, and a neutral white palette with accents of burgundy and gold,” it explained.
“The new store design was inspired by a vision of openness and flow, allowing the furniture and décor to take center stage. With majestic windows, thoughtfully placed lighting, and elegant materials, the space invites customers to explore and visualize their dream interiors. Distinct areas within the store reflect the unique personalities of Home Société Group’s diverse portfolio, offering a curated and inspiring shopping journey.
Home Société Group is a leader in mid to high-end interior and exterior furnishings, with 17 existing stores across Quebec and Ontario (Toronto and Ottawa) and three transactional websites. The company’s portfolio includes Maison Corbeil, MUST, Jardin de Ville, Home Société and La Galerie du Meuble.
“For the first time, really since the pandemic, we focused on expanding outside of our existing retail network. We opened five new showrooms across the U.S., five additional Nordstrom locations, so 10 in total, and we had 50 locations go live with Kohl’s,” he shared. “In total, we had 60 brand new showrooms and locations that customers could access the brand. That was a lot of work.
“We had five different landlords. Two different department stores. A product line with Kohl’s. The green label.”
The company’s efforts resulted in a record-breaking second half for both revenue and EBITA. “It was our best second half, revenue- and EBITA-wise, in the company’s history,” Green noted.
“We were really focused on that expansion.”
Strategic Team Expansion
In addition to retail growth, INDOCHINO strengthened its leadership team. “We also had some additions to the team which took a lot of time and attention. We hired Sean Wrenn away from Kendra Scott, and he’s leading our retail now, which I’m really excited about. That was a big recruitment process,” Green said. “We also brought in a new vice president of marketing.”
Green emphasized his business philosophy: “Kind of sticking within the pillars that I always build in—people first, product, and both of those leading to profit—really was the core focus for 2024.”
Expanding the Retail Network in 2025
Currently, INDOCHINO has 61 showrooms and 33 Nordstrom locations with 50 Kohl’s locations.
Looking ahead, INDOCHINO plans to continue its expansion. “We’ve got two new locations in the U.S.,” Green revealed. “One is just outside of Boston, and one is outside of Chicago. They’ll launch in Q2. We’ve also signed another six locations with Nordstrom, which would bring us to 39 Nordstrom locations.”
INDOCHINO’S partnership with Kohl’s is also a key growth area. “When I was in Milwaukee, I was there with senior executives from Kohl’s. We’re focused on this sort of first 50-store test and making sure that goes well,” Green said. “We’ve talked about an additional 450 stores, but I don’t really want to commit to that yet. We want to make sure we make it through this test really well.”
Focus on Nordstrom and Kohl’s
Green expressed admiration for other department stores but reiterated INDOCHINO’s commitment to its current partnerships. “I think for us we’ve invested quite a bit with Nordstrom over the past four years. We really want to stay focused. We’re going to continue to invest our time and attention and resources into Nordstrom,” he explained. “With Nordstrom, we’re able to really connect with a customer that has more disposable income. And with Kohl’s, we’ve created a product for the customer that doesn’t have a lot of disposable income.”
The video game industry remains a vital contributor to Canada’s economy, with 821 studios employing 34,010 people and contributing $5.1 billion to Canada’s GDP, according to an economic impact study conducted by Nordicity for the Entertainment Software Association of Canada (ESAC).
“The video game industry is a cornerstone of Canada’s digital economy, creating high quality jobs, driving innovation, and showcasing our creativity on the global stage,” said Paul Fogolin, CEO and President of ESAC. “Our video game studios have had to navigate significant challenges coming out of the pandemic, but this report shows the maturity of the industry overall, and the importance of continuing to invest in its growth and success.”
While there was a slight decrease in employment (-3.5%) since 2021, the report shows that this was offset by an increase in the percentage of full-time employees (from 81% to 86%), and a 21% increase in average salary across all roles, to $102,000 per year. Overall, this resulted in 3% growth in the economic impact of the sector, with $5.1 billion contributed to total GDP, said the report.
One of the reasons for the continued success, is that a remarkable 88% of the industry’s revenue comes from exports, solidifying Canada’s position as a global leader in video game development and digital innovation, added the report.
Deirdre Ayre
“Canadian studios have developed some of the most well-known and successful video games in the world,” said Deirdre Ayre, Head of Canadian Operations, Other Ocean Group Canada Ltd. “The diverse talent and positive business environment in Canada have allowed our member companies, throughout the country, to grow their studios and develop incredible games. From small indie teams to global AAA studios, Canadian developers are producing games that resonate with players worldwide.”
Key Statistics from the Report:
821 active video game studios across Canada.
Contributed $5.1 billion to GDP in 2024, an increase of 3% since 2021.
34,010 FTEs employed across the country, with an average salary of $102,000.
15,220 employees in Quebec
10,930 employees in British Columbia
6,090 employees in Ontario
86% of employees are full-time, with an average age of 34 years.
ESAC is the national voice of the video game industry in Canada.
The 2024 social impact report reflects a year of collective efforts by Manitobah and highlights initiatives of the company’s Four Impact Pillars including: Education for Change, Trade for Community, Art in Action and Sovereignty through Leadership.
Manitobah, the Indigenous-rooted retail brand, released on Tuesday its2024 Social Impact Report. The 2024 report reflects a year of collective efforts by Manitobah and highlights initiatives of the company’s Four Impact Pillars including: Education for Change, Trade for Community, Art in Action and Sovereignty through Leadership, said the company.
Daman Morissette
“At Manitobah, our mission surpasses profitability with a focus on creating pathways for Indigenous voices to be heard, celebrated, and economically empowered,” said Daman Morissette, vice president of social impact at Manitobah. “This past year, initiatives like the Manitobah Storyboot School, Indigenous Market, and Artist Collaborations have advanced this mission. These programs go beyond celebrating Indigenous artistry—they preserve culture, foster economic sustainability, and create lasting impact.
“I am incredibly proud of the work we have accomplished together in 2024. We are excited about our future as we continue to grow and expand our impact.”
Designed to strengthen cultural heritage, support economic reconciliation, and uplift the Indigenous community across each pillar, the company said 2024 achievements include:
Education for Change: The Manitobah Storyboot School: 1,759 graduates have completed the Manitobah Storyboot School since 2013 This program passes on traditional moccasin and mukluk-making knowledge through workshops for Indigenous students and allies.
Trade for Community: Over $1 Million in Contributions to Indigenous Artists through the company’s Indigenous Market Manitobah’sIndigenous Market connects Indigenous artists to a larger audience through its online marketplace for artisans to share their stories and products. 100% of profit from the Indigenous Market goes to the artists. Since 2012, Manitobah has contributed $1.04 million dollars to the Indigenous Artisans community and in 2024 alone, the market generated $200,000 in sales.
Art in Action: Over $440,000 paid to collaborating artists since 2020 Manitobah provides a showcase for authentic Indigenous art that encourages pride, changes lives, and helps keep traditions alive. Each year Manitobah collaborates with Indigenous artisans to create and inspire new designs on the company’s products. In 2024, Manitobah featured seven new artists and three returning artists.
Sovereignty Through Leadership: Manitobah achieved its B Corp certification and received a score of 89.9. Manitobah is a trailblazer for Indigenous business, demonstrating how Indigenous values, ethics, and culture can achieve success in the global marketplace. The brand promotes economic independence by prioritizing Indigenous suppliers, employment and equity ownership, all while maintaining its commitment to beauty, craft and performance.
“To become a certified B-corporation, organizations must score at least 80 out of a maximum of 200 on the B Impact Assessment (“BIA”). Manitobah achieved a score of 89.9 at its first attempt and utilizes the framework as a tool to continue to measure impact while gaining valuable insights into ways it can continue to improve,” said the company, which was founded in 1997 by Sean McCormick.
Sean McCormick
“Manitobah’s commitment to Indigenous artistry and cultural preservation is infused into every Manitobah product, reflecting the brand’s promise of walking together, making a difference with every step. Throughout 2025 the brand continues to grow and refine how it supports Indigenous artisans.”
Stability seems to be the prevailing theme for retail in Vancouver as demand for warm shell spaces remains strong but the pipeline for new supply is experiencing delays, according to the Greater Vancouver Retail Report Fall/Winter 2024 released by commercial real estate firm Colliers.
“Despite uncertainties looming in the market and rising operational costs, entrepreneurs remain hopeful as franchises and new businesses push forward taking up spaces with low overhead costs in short order,” said the report.
“Shoppers and businesses alike have felt the pressure of decreased discretionary spending with business insolvencies up by 16% Year-over- year across Canada according to to the Government of Canada’s Office of the Superintendent of Bankruptcy (OSB)’s 2023-2024 Annual Report. 2025 is poised to be a year of speculation as numerous factors from political matters to prospects of punitive tariffs loom in the back of everyone’s mind.”
As of the end of 2024 the Urban Retail Colliers Index Vacancy Rate was 3.4%, unchanged from the mid-year 2024 figures. Meanwhile, the Suburban Retail Colliers Index Vacancy Rate was 0.7%, slightly lower than 1.0% from mid-year 2024.
Susan Thompson
Susan Thompson, Associate Director, Research at Colliers, said the key takeaway from the report is that the Vancouver retail market overall remains very healthy and has found its new point of stability following some serious change that occurred during the pandemic.
“The big strengths in the retail market are people still need to shop, particularly necessity-based. So that would be things like groceries, food, things like drugstores. That would be like Shoppers Drug Mart or Rexall. Healthcare. That’s a big thing taking up retail. People still want to be able to grab a quick bite to eat or find something to do. So we’re seeing a lot of quick service retail and those retailtainment are really taking up a lot of spots now because people have realized that people don’t just want to buy things. They want to buy experiences. They want to get out of the house and do things. And so if you can capture all of that in a nice dense location, it creates quite the community.”
Thompson said the 3.4% overall vacancy remains relatively low in the market. The market is still considered to be relatively tight.
“You’d need a little bit of vacancy in the market for companies to grow, expand, relocate into the market as new options. So this is still restricting some of that movement,” she explained.
“New retail in Vancouver is predominantly part of mixed-use buildings or master-planned communities because there’s such a scarcity of land, developable land sites So Vancouver keeps trying to densify. Wiith the housing market being a little slower right now that has also slowed the pipeline of new retail options. That’s making putting some additional pressure on those ones that are starting to hit the market right now.”
Check out the latest Yaletown views in downtown Vancouver at the SideSignal Collective.
Thompson said there’s some uncertainty out there. There’s a lot of question marks on a number of fronts, be it political or economic, but the population is still growing, even if it’s going to be growing at a slower rate than it was before.
“It’s still growing. People still need to shop and set up their houses. And continue to do their day to day. And there are still entrepreneurs out there who want to get started in this business. And the next big retailer could be starting today. I’s always exciting in retail because you never know what’s going to be the next great success story because they all come from very small, humble beginnings. We’re expecting to see, it’s going to continue.”
New levels of stability in the market
“The Greater Vancouver retail market appears to have found new levels of stability after seeing a divergence between urban and suburban locations during the early recovery phase of the pandemic. As recently as 2022 the gap in vacancy rates between urban and suburban locations was around half a percent. However, as new patterns emerged because of people shopping closer to home, the gap has widened to almost three percentage points, with suburban rates now trending lower than urban rates,” said the Colliers report.
“With a heavy air of uncertainty, deals find themselves teetering to and fro. As costs continue to inch upwards from rents, to labour, permits, taxes, and the time it takes to navigate all these processes it can be incredibly daunting for business owners to sign off and accept all the risks involved with such an endeavour. However, entrepreneurial spirit runs high, and people continue to start new businesses or buy franchises with dreams of success and belief in their business plan. Every successful business was once a startup, and the next great retail could be opening for the first time today.
“Demand for space remains strong among quick-service restaurants (QSR), necessity-based shopping (grocery stores, retail pharmacies), healthcare/medical, convenience stores, and discount/low-price retailers. Desirable locations and well-designed space lease up quickly, especially if they require minimal buildout or finishing. Warm shell space (a rentable area that is ready for a tenant to move in and customize) is highly desirable versus unfinished space due to the costs required and the difficulty many businesses have in visualizing what it may look like.”
Colliers said spaces already fitted out for restaurants with venting and kitchens remain in high demand due to the costs associated with building these elements from scratch. Upward pressure remains in place for rental rates on top quality locations, while other areas have stabilized over the last year, while the time it takes to complete a deal negotiation depends entirely on the complexity of the transaction and players involved.
“Predicting what is going to happen in 2025 is difficult. There are a great many uncertainties hanging over the market that we will have to wait and see how they play out. Political turmoil, provincially, nationally, and globally must be acknowledged,” explained the report.
Commercial Drive in Vancouver. Photo: Vancouver Virtual Guide
“The prospect of punitive tariffs affecting the cost and flow of goods across international borders has brought in concerns around business costs and the price of goods rising across Canada. While inflation and interest rates above long-term averages have affected costs, less money is also coming in from shoppers.
“Changes to immigration policy will slow population growth but should slow inflation. Further cuts to interest rates are expected in the near term, but rapid changes in economic conditions could affect this. Expect change.”
Flowing directly from the slowdown in population growth and sluggish economy, the residential housing market in the Greater Vancouver area directly affects the supply of new retail space, noted the Colliers report.
“Due to the scarcity of developable sites, most new retail is developed as part of mixed-use projects or master-planned communities. A slowdown in both the sale and rental of housing along with a stalled investment market, the volume of new housing projects is down. According to the Canada Mortgage and Housing Corporation (CMHC) Starts and Completion Survey for November 2024, year-to-date housing starts are down 14% year- over-year in the Vancouver metropolitan area. This slowdown in new supply is driving up competition for the few sites coming available adding to upward pressure on rental rates and making it harder for new entrants to get a foothold.
Retailtainment a significant occupier of space
“Retailtainment (aka: Indoor recreation or recreation businesses) have become a significant occupier of retail space – think pickleball, trampoline parks, skateboard facilities, gymnastics, kids play parks, VR/video arcades, simulators, indoor rock climbing, and axe throwing just to scratch the surface. People are searching for experiences and entertainment as much as they are shopping and bringing those elements together creates an environment where people want to stay longer and return to more frequently. Expect to see more businesses catering to people looking for something exciting to do or want to try new experiences.
“One thing to watch in downtown will be the increasing implementation of mandates calling workers back to the office. All eyes are watching companies such as Amazon, JPMorgan, Dell, and the Canadian federal government who have made public announcements about their minimum requirements for days in office – often four or five days a week. Urban retail streets in the downtown area have had higher than average vacancy since the start of the pandemic, due to reduced foot traffic. This increase to downtown foot traffic has the potential to drive up demand for local food and beverage offerings as well as shopping breathing much needed vibrancy back into the area.”
Colliers said event-driven shopping is also something the Vancouver market has grown to live for and love. The Olympic Games in 2010, high profile warehouse sales, and annual Black Friday sales have drawn people to head out of their homes, causing noticeable spending spikes. The recent final stop on Taylor Swift’s Eras tour December 6-8th, 2024 caused a 154% increase in spending levels during the run of shows according to data commissioned by the Downtown Vancouver Business Association from payment processing firm Moneris – similar to spending patterns seen during the 2010 Winter Olympic Games. The upcoming Invictus Games February 8-16, 2025, and FIFA World Cup matches June 13-July 7, 2026, will be events that may cause similar spikes in spending.
Food same-store sales up 1.0% and up 2.4% when adjusting for the Christmas week shift
Pharmacy same-store sales up 5.1%
Net earnings of $259.5 million, up 13.6% and adjusted net earnings(1) of $245.4 million, up 4.4%
Fully diluted net earnings per share of $1.16, up 17.2% and adjusted fully diluted net earnings per share of $1.10, up 7.8%
Declared dividend of $0.37 per share, up 10.4% versus last year
Eric La Flèche, Metro’s president and CEO
“We are pleased with our first quarter results which were driven by solid revenue growth and good expense control. Our commercial programs continue to resonate with customers, aided by the successful launch of our Moi Rewards program in Ontario this fall, leading to increased traffic and tonnage. Our teams are focused on delivering value in all our banners and leveraging our recent supply chain investments. We are confident in our ability to continue to create long term shareholder value”, said Eric La Flèche, President and Chief Executive Officer in a news release.
The company said sales were negatively impacted by the transfer of two significant pre-Christmas shopping days to the second quarter this year.
Food same-store sales were up 1.0% in the first quarter of Fiscal 2025 and up 2.4% when adjusting for the Christmas shift. Online food sales were up 18.6% versus last year. When adjusting for the sales tax holiday, its food basket inflation was slightly higher than the reported CPI for food purchased from stores. Pharmacy same-store sales were up 5.1% with a 7.3% increase in prescription drugsand a 0.5% increase in front-store sales. When adjusting for the Christmas shift, the increase in front-store sales was 1.9%, explained Metro.
It said net earnings for the first quarter of Fiscal 2025 were $259.5 million compared with $228.5 million for the corresponding quarter of 2024, while fully diluted net earnings per share were $1.16 compared with $0.99 in 2024, up 13.6% and 17.2% respectively.
“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 have also positioned us well for growth through the expansion of our retail network in the years ahead. We expect to gradually resume our profit growth in Fiscal 2025 and we maintain our publicly disclosed annual growth target of between 8% and 10% of adjusted net earnings per share over the medium and long term,” said the company.
Social commerce is transforming the retail landscape as Canadian consumers increasingly seek streamlined shopping experiences. Yet, growing concerns about security, fulfillment disruptions and product discrepancies remain significant barriers. The retail industry, however, can use existing technologies and platforms to build brand trust and loyalty, according to a new report by SOTI.
“Three key themes appeared in this year’s retail report: social commerce is becoming a critical channel for retail growth, driven by consumer demand for improved and more personalized shopping experiences. However, security issues remain a critical issue for buying online and with in-store devices, emphasizing the need for a security-first approach across the sector and all retail channels,” explained the report.
Stephanie Lopinski
“Online and social commerce are revolutionizing how Canadians shop,” said Stephanie Lopinski, VP of Global Marketing at SOTI. “Our research highlights that 72% of consumers have opted for online purchases delivered to their homes in the past six months, while 63% expect tailored interactions throughout their journey. To keep pace with these expectations, retailers must prioritize personalization and smooth, efficient ordering and delivery processes to ensure a standout shopping experience.”
The Rising Importance of Social Commerce
The surge in mobile-first and application investment is changing how Canadian consumers shop, blending personalization to meet consumers’ evolving preferences, according to the report.
“In Canada, 59% of consumers say that phones are the most convenient way to make an online purchase. Almost half (48%) of consumers say social media offers a quick and effortless way to keep up with trends, making it an essential channel for retail growth. Personalized content and promotions keep consumers engaged and on trend.
“However, SOTI’s research suggests that the rise of social commerce has brought new challenges to Canadian retailers that they need to address. Of those making a purchase through social media in the past six months:
37% of consumers reported that it took a long time for their item to be delivered. 25% of consumers received products that looked significantly different from what was ordered. 23% of consumers never received little to no communication about where their item was.”
Fulfillment delays, product discrepancies and poor post-purchase communication can undermine the shopping experience.
To meet these demands, retailers must focus on delivering seamless mobile-first platforms,implementing secure payment systems, and strengthening supply chain models. These elements are essential to aligning with consumer expectations and unlocking the full potential of social commerce, noted SOTI.
Protecting Consumer Data Instilling Trust: Navigating Security Concerns
Shash Anand
“Security concerns remain a critical barrier to unlocking the full potential of social commerce in Canada. Our research shows that 53% of Canadian consumers worry about who is responsible for protecting their data when a third-party payment solution is used,” said Shash Anand, SVP of
Product Strategy at SOTI. “This heightened awareness stems from real issues like data breaches and payment fraud, which erode trust at every level. For retailers, addressing these challenges means implementing secure, mobile-first technology that builds confidence in every
interaction. Retailers who act now to secure their platforms will set themselves apart as trusted partners in this fast-evolving marketplace.”
The report said 83% of Canadian consumers are concerned about entering personal details online or into an in-store device, with 66% fearing that smaller retailers cannot keep personal and payment data secure.
“As social commerce channels grow, security is still a concern, 74% of Canadian consumers worry about their data security when purchasing items through social media,” added the report.
Peavey Industries LP, Canada’s largest farm and ranch retail chain, has officially announced the closure of all its stores nationwide. This decision follows the company’s filing for creditor protection under the Companies’ Creditors Arrangement Act (CCAA), granted by the Court of King’s Bench Alberta.
The closures will affect 90 Peavey Mart stores and six MainStreet Hardware locations, with liquidation sales set to begin immediately. This marks the end of a nearly six-decade-long legacy for the Alberta-based retailer, which has been a staple in Canada’s rural and suburban retail market.
Retail Insider was first to report on the company’s store closings on Sunday, following tips and confirmation from several stores that had begun liquidation sales.
Financial Struggles and Industry Challenges
In late 2024, Peavey Industries secured a $155 million financing package from Gordon Brothers, a global advisory and investment firm. The package included a $105 million revolving credit facility, a $30 million term loan, and a $20 million consignment program. These funds were intended to support restructuring efforts and stabilize operations.
Despite these measures, the company faced ongoing financial challenges. On January 21, 2025, Peavey announced the closure of 22 underperforming locations in Ontario and Nova Scotia, aiming to strengthen its operations and position itself for future sustainability.
Doug Anderson, President and CEO of Peavey Industries, acknowledged the difficulties in an earlier statement:
“The Canadian retail environment has faced significant disruption over recent years, and Peavey has not been immune to these challenges. We recognize that difficult decisions like these are necessary to create a more stable foundation for the long-term success of our business.”
However, these efforts were insufficient to overcome the financial difficulties, leading to the decision to close all remaining locations.
CEO Addresses the Closures
In the announcement, Anderson described the decision to close the stores as “profoundly difficult” but necessary under the circumstances.
“For nearly six decades, our customers’ loyalty, employees’ dedication, and the resilience of the communities we serve have been the cornerstone of our business. We remain focused on working with our partners and stakeholders to preserve the Peavey brand and the value it represents.”
The company emphasized that its immediate focus is to generate liquidity through the store closure process while continuing to work with creditors and stakeholders to explore potential opportunities to preserve its brand.
In a press release, Peavey Industries provided a detailed explanation of what it blames for its financial troubles.
“The decision to seek creditor protection and close all stores was made after thorough evaluation of available options, in consultation with legal and financial advisors. The Canadian retail industry is experiencing unprecedented challenges, including record-low consumer confidence, inflationary pressures, rising operating costs, and ongoing supply disruptions along with a difficult regulatory environment. These factors have created significant obstacles for businesses like Peavey.”
A Look at Peavey’s History
Founded in 1967 in Winnipeg, Manitoba, Peavey Industries built its reputation as a go-to destination for farm, ranch, and rural lifestyle products. Over the decades, it expanded its footprint across Canada, catering to customers in both rural communities and suburban areas.
In 2016, the company acquired 39 former TSC Stores, rebranding them under the Peavey Mart banner in 2021. The acquisition aimed to strengthen the retailer’s presence in Ontario, one of its key growth markets.
In March 2020, Peavey Industries acquired the Canadian master license for Ace Hardware from RONA Inc., a subsidiary of Lowe’s Canada. This acquisition included 107 Ace-branded retail locations across the country and was part of Peavey’s strategy to bolster its presence in the hardware and home improvement sector.
However, in June 2024, Peavey Industries announced that it would end its relationship with Ace Hardware International, effective December 31, 2024. This decision was part of a strategic reevaluation amidst challenges such as supply chain disruptions and rising operational costs.
Following this announcement, Ace Hardware International informed Canadian dealers in October 2024 that it would no longer support or supply Ace-branded dealers in Canada starting in 2025. This development impacted nearly 100 dealers across seven provinces, adding further strain to Peavey’s operations.
Impact on Employees and Communities
The closure of Peavey stores will leave a significant void in the communities it has served for nearly six decades. Many Peavey Mart and MainStreet Hardware stores were located in smaller towns and rural areas, where they were not only retail outlets but also essential community hubs.
For employees, the closures bring an uncertain future, with job losses likely to impact local economies, especially in areas where Peavey was a major employer. Families who relied on these jobs may face financial challenges as they seek new opportunities.
In addition to the economic impact, rural communities will lose access to vital agricultural and home improvement products, forcing residents to travel further for these goods. The departure of Peavey Industries marks the end of a chapter for communities that relied on and grew alongside the retailer.
Industry-Wide Challenges
The difficulties faced by Peavey Industries mirror broader struggles in Canada’s retail sector. Retailers across the country have been grappling with a confluence of economic challenges, including high inflation, shifting consumer spending patterns, and rising interest rates.
For rural-focused retailers like Peavey, these challenges are further magnified by declining agricultural incomes and an increasingly competitive retail landscape.
Liquidation Sales Begin
Liquidation sales will commence immediately at all remaining Peavey Mart and MainStreet Hardware locations. Customers can expect discounts on inventory as the company winds down its operations.
As the retailer closes its doors, it leaves behind a significant legacy in Canadian retail, having served as a cornerstone for rural communities for nearly 60 years.
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.
