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.
rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi)
New Canadian retailer rooms + spaces is rolling out its concept across the country with grand openings in August.
The Canadian-owned home and décor retail brand in British Columbia, Alberta, Saskatchewan, Ontario, Nova Scotia, New Brunswick and Newfoundland also features a Toys”R”Us shop in shop.
rooms + spaces is a subsidiary of Putman Investments.
Doug Putman
“The opening of our 24 new rooms + spaces stores across the country shows the strength of Canadian-owned retail,” said Doug Putman. “We saw an opportunity in the market to create an enjoyable in-store shopping experience across the home goods category and that is exactly what our new stores deliver.”
rooms + spaces was created by Canadian entrepreneur Putman, who has bought and transformed iconic brands globally, including Toys”R”Us and Babies”R”Us and Sunrise Records in Canada. More than 500 store associates have been hired across the 24 rooms + spaces stores across Canada, which accounts for more than 800,000-square feet of retail space.
The stores are in spaces formerly occupied by Bed Bath & Beyond and buybuyBABY storefronts.
rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi) rooms + spaces in Woodbridge Ontario (Image: rooms + spaces)
Greg Dyer, President, rooms + spaces, said the company is excited to bring a new shopping experience to customers “that makes it easy to find inspiration and see how products will look in different spaces throughout the home.”
He said 18 stores have already opened with six more opening in the next eight weeks.
“You can expect more coming for sure,” he said of the retailer’s future plans beyond the first 24 stores. “I’m not committing to a time period on that but yes we have plans for significantly more stores.”
Dyer said stores range in size from 20,000 square feet to 38,000 square feet. Typically, the ideal space is about 25,000 to 26,000 square feet.
“We have seen a great response since we began to open our doors across Canada and look forward to welcoming our customers in store for our grand opening celebrations,” he said.
“We have worked closely with our vendors to build a product assortment that caters to the design preferences and lifestyles of Canadian consumers. We have an exciting lineup of products from both new and well-known brands we know our customers will love.
“We have done a very slow opening so people are trying to figure out who we are but very, very positive about the assortment, the way we’ve laid out the store, giving people room to shop. I think they’re just learning now the spectrum of Canadian assortment . . . It’s very much a Canadian perspective on what Canadians are looking for and we have great partnerships with Canadian vendors and suppliers who really know the Canadian assortment.”
rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi) rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi)
With a focus on supporting Canadian businesses, over 80 per cent of rooms + spaces vendors will be from Canada. Each store also features a 1,500 to 2,500-square-foot Toys”R”Us shop in shop.
rooms + spaces store locations and grand opening dates include:
British Columbia
Kelowna: Orchard Plaza, 1876 Cooper Road (Grand Opening: August 26)
Langley: Langley City Square, 19860 Langley Bypass (Grand Opening: To be confirmed.)
Vancouver: 1740 West Broadway (Grand Opening: August 19)
Victoria: Mayfair Shopping Centre, 775 Finlayson Street (Grand Opening: August 26)
Alberta
Calgary: Brentwood Village, 3630 Brentwood Road NW (Grand Opening: August 26)
rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi) rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi) rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi) rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi) rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi) rooms + spaces Calgary Brentwood Village (Image: Mario Toneguzzi)
Iris Galerie Distillery District in Toronto (Image: Dustin Fuhs)
Iris Galerie, a new international based eye artwork concept, is opening three locations in the upcoming months in Ontario.The concept came to Canada this past year and has no plans to slow down as it is planning to open 30 locations within three years.
Emeric Wehbeh
The concept started in 2021 in Paris after the founder, Emeric Wehbe, was inspired to capture the beauty of eyes during the pandemic as the masks covered everything else. Since opening, Iris Galerie has expanded to over 100 locations worldwide, including four stores in Canada with more coming soon.
Iris Galerie uses state of the art photography to capture the beauty of people’s eyes and create unique artwork and can include up to five different irises. Tanguy Saillant, Country Manager, says they get a variety of people stopping by such as individuals, couples, and families.
“It is a concept that is across cultures and is about love, family, and celebrating everyone. During Covid, the only thing people would really see was the eye because of the mask and so the founder thought there was something very specific about the eye and he thought no one really knew how an eye could be so beautiful. So, he wanted to create specific artwork and that was the beginning of the idea and how the concept started,” says Saillant.
How The Concept Came to Canada
Iris Galerie on Queen Street West in Toronto (Image: Dustin Fuhs)Iris Galerie on Queen Street West in Toronto (Image: Dustin Fuhs)
Tanguy Saillant
Saillant is originally from France and was living in Canada between 2016 to 2020; however, decided to move back during Covid to be closer to family and worked in the fitness industry. As he knew they would move back to Canada, Saillant was searching for opportunities in Canada and wanted a new adventure – and that is when he found Iris Galerie.
“At the time, I did not know exactly if it was a good concept, but after spending time in Paris and experiencing the store – I quickly realized that the concept is very positive, is easy to sell, the environment is simple and elegant, and it is great to work for this type of brand. So, I made a deal to bring this concept across Canada.”
New Locations and Expansion Plans
Iris Galerie at Fallsview Casino Resort in Niagara Falls
Iris Galerie already has four locations in Canada including two in Toronto, one in Quebec City, and a few weeks ago Saillant opened a location in Fallsview Casino Resort in Niagara Falls. Along with the new opening, Saillant says he is also opening locations within the next few months in Ottawa close to the ByWard Market and in Blue Mountain.
The new location in Ottawa will be opening this month and the location in Blue Mountain will be opening in October. Saillant says most of the stores in Europe are between 400-600 square feet as the concept does not require a lot of space, such as the Toronto Kiosk in the Distillery District which is only 100 square feet.
All locations currently have opened at a fast speed and is not looking to slow down.
“It is growing really fast – we opened in the Distillery District in Toronto on May 3rd, Quebec City on May 26th, Queen Street in Toronto on June 9th, Niagara Falls opened July 18th, and then Ottawa will be opening in August. As for Blue Mountain, we just need to do some renovations and I think we are going to be opening in the middle of October.”
After these openings, Saillant says he is looking to add 30 more locations throughout Canada within the next three years. He will be looking at areas such as Montreal in Quebec, Alberta, British Columbia, and more places in Ontario, such as Niagara-on-the-Lake.
Product Offerings
Image: Iris Galerie
Image: Iris Galerie
Image: Iris Galerie
Currently, Saillant says they have multiple different products they can send, but has many ideas for future innovations for the brand – but is unable to share his ideas just yet.
“People speak about taking pictures of dogs and cats, but I am unsure if we are going to go that way even if it could be a great idea. I think it is in our mind but we also have other stuff we are thinking of but is still confidential. We need to make sure our ideas will stick and something that can be done on site and maybe artwork that will need a specific professional lab.”
How it Works
The whole experience, Saillant says, takes around thirty minutes and is appointment based.
“Taking the picture is very quick, we have a small mirror in the store and people can look at their eyes and the mirror is able to show the Iris ten times more as you see daily. The mirror is used to help people get an idea about their eye and helps decide which eye they would like to use.”
After the picture, the rest of the time is spent on editing the picture and transforming it into artwork. After it is complete, consumers have the option of three different print sizes they can print on site and everything else is done off site and takes around two weeks to be delivered.
Image: Iris Galerie
As for next steps for the brand, Saillant says he is on the hunt for new locations and encourages people who have open vacancies to connect as he is able to open a store quickly.
“If they think that the concept would be a good fit for their retail area, then it would be great to connect. What is so unique about Iris Galerie is that we can relive the beauty of everyone and be able to create artwork and capture the beauty of the eye.”
Craig and Dean discuss the inspiring journey of Dean Davidson‘s jewelry brand, from its humble beginnings as a hobby to becoming a successful line carried by prestigious retailers like Holt Renfrew.
They delve into the design process, materials used, and future plans, including the possibility of expanding into homeware. Dean shares insights into his demographic, awards, and the opening of his first physical store in Toronto.
The interview reveals the brand’s global distribution, carried by major names in the industry. They wrap up with Dean’s vision for the future, focusing on further expansion and introducing homeware to their retail boutiques.
A transcript of the conversation can be found below.
If you prefer to listen to the audio version, it is available below:
The Interview Series audio podcasts by Retail Insider Canada are available on Apple Podcasts, Stitcher, TuneIn, Google Play, or through our dedicated RSS feed for Overcast and other podcast players. Also check out our The Weekly audio podcast where Craig and Lee discuss popular content published on Retail Insider which is part of the The Retail Insider Podcast Network.
Featured during this interview:
Dean Davidson, CEO / Creative Director at Dean Davidson
Craig Patterson 0:03 Welcome to the Retail Insider Video Interview series. I’m your host, Craig Patterson, and we’re joined here today with a special guest. This is Dean Davidson. He’s the founder of a very well-known jewelry business with the same name, Dean Davidson. Welcome, Dean.
Dean Davidson 0:17 Great. Thank you for having me.
Craig Patterson 0:19 Let’s talk a little bit about your brand. First of all, how did you get started?
Dean Davidson 0:25 So I started in spring of 2008. I actually used to work in a completely different field. I worked in agriculture. And I was on a trip probably my first big international trip to South Africa. I bought a bracelet in a market in Cape Town brought them back to Calgary I was living and I started making them kind of as a hobby, ended up getting introduced to a clothing designer in Calgary, Paul Hardy, and I designed jewelry to complement his clothing collection. And we went to New York Fashion Week and Paris Fashion Week and LA and then Holt Renfrew picked up that line. And I ended up enrolling in jewelry design classes at A-CAD in Calgary. And then three years later, I launched my first solo collection, and that’s 15 years ago.
Dean Davidson (Image: Erin Leydon)
Craig Patterson 1:44
That’s incredible. So you kind of got started with a passion and from there, you designed a line that got picked up by Holt Renfrew, which is, you know, the most respected large format luxury retailer in Canada. How did that all happen? Did they come to you?
Dean Davidson 1:54 So we built a relationship. I said the line that I designed was carried alongside the clothing in the Toronto location of Holt Renfrew. And so when we parted ways, I approached them with my very first collection, actually called “The Davidson by Dean Davidson,” and they picked up that very first collection.
Craig Patterson 1:44 Tell me about the jewelry itself. Is it called Demi or… tell me a little bit about the stones that are used, the metals, the price point as well.
Dean Davidson 1:54 So it’s called Demi-fine jewelry. It’s really kind of indiscernible from fine jewelry, but at a much better price point. We worked with a family-owned factory in Jaipur, India, and they specialize in making fine jewelry. They’ve actually made jewelry for the royal family of Jaipur. So the quality is really strong. We use semi-precious gemstones. Our base metal is high-quality brass. And then we plate it with 22-karat gold, rhodium, or silver colour.
Craig Patterson 2:23 Excellent. In terms of product types, tell me about your necklaces, rings. Tell me about the collection?
Dean Davidson 2:30 Yeah, so we do everything from hoop earrings to necklaces, rings, cocktail rings, which is a big category for us, pendants, statement necklaces. So we kind of run the whole gamut of pieces and inventory.
Craig Patterson 2:45 Are there any other categories as well, beyond jewelry, yet?
Dean Davidson 2:49 Yes. So we’re kind of dabbling in homewares a little bit. That’s part of the future plans that the brand would love to move into home objects, objects for the home that complement our jewelry pieces.
Dean Davidson at 145 Berkley (Image: Dustin Fuhs)
Craig Patterson 3:03 Oh, great. We’ll talk more about the future as well. Because do you have a core demographic or a certain consumer who you found is buying your jewelry?
Dean Davidson 3:13 Yeah, so our demographic would be women, I would say from 35 to 70, would be our age bracket that appreciates our designs.
Dean Davidson 3:26 Excellent. And you won a Canadian art and fashion award in 2019. I was actually there. Tell us about the award. How did that go down?
Dean Davidson 3:34 Yeah, so I was nominated for the award in 2019 and felt very fortunate to win and to be acknowledged by my peers in the industry. And yeah, it was just a great honor and it’s so nice that the CAPA has formed and it’s acknowledging Canadian artists. So I just felt very fortunate to be one of them.
Dean Davidson (Image: Dustin Fuhs)
Craig Patterson 3:56 Congratulations. It’s amazing. And now you’ve opened your first actual physical store. This was quite recent, and it’s in Toronto, in Cabbagetown South. Can you tell us about the store and how it came about?
Dean Davidson 4:08 Yeah, so we were actually, thanks to our loyal customers who have seen a lot of growth in our business, I was actually looking for a larger office space. And I found this really beautiful building with a retail component on the main floor. And so we decided it was time to jump into a boutique. And we created a really beautiful, serene environment. It feels kind of like a loft apartment, a place you would want to hang out in and spend the day and just look at beautiful jewelry. So we were really happy, and we are excited now to have that full experience for the customer from the time they step in the door until they put their jewelry on when they’re at home.
Craig Patterson 4:51 Now tell me about your distribution globally. We had a journalist write an article about 250 stores, I think, around the world. It could be a bigger number. Now tell me a bit about it. Who’s carrying the Dean Davidson line?
Dean Davidson 5:03 So some of the more notable names would be Saks, Nordstrom, Harvey Nichols Hong Kong. We’re carried in a large department store in Spain, Four Seasons, and several locations of resorts and spas around the world. And then several boutiques. So we have specialty stores mainly in Canada and the US.
Craig Patterson 5:24 Terrific, terrific. El Corte Ingles is probably the Spanish one.
Dean Davidson 5:28 Yes, yes. Yes. Sorry, I couldn’t think of it at the moment. But yes, that’s the one. Yeah, yeah.
Craig Patterson 5:32 Interesting because there are so many locations. Interesting in terms of distribution. So that’s excellent. What do you think towards the future, whether it’s stores, you mentioned home goods? Tell me about your thinking for the future of your brand.
Dean Davidson 5:43 So we want to continue building our wholesale business in the US and internationally. I think we’d like to look at opening more retail locations down the road as well. And then, as far as from a product perspective, introducing homeware. So that would be the extension that we would introduce to our retail boutiques.
Craig Patterson 6:02 Terrific. I look forward to seeing this as it develops in terms of collections. Well, best of luck with everything here in the business. This has been really, really interesting. This has been Dean Davidson, and he’s the founder of his own jewelry brand, Dean Davidson, based in Toronto. Thank you for joining us, Dean.
Dean Davidson 6:25 Great. Thank you for having me.
Craig Patterson 6:27 I’m Craig Patterson, the founder, and publisher of Retail Insider. Thank you so much for watching us today. If you’re watching on our YouTube channel or listening to us on our podcast channel, be sure to subscribe on either if you haven’t already. Thank you so much. Take care and bye for now.
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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.
Northern Alterations & Designs Inc. has recently opened its first location in Yorkdale Mall in Toronto and has more plans to expand in Canada.
Wazhma Azamyar
The owner, Wazhma Azamyar, was the leader of Alterations and Personalization for Nordstrom Canada and after Nordstrom closed its doors, she decided to venture out on her own to open her dream alteration store. Northern Alterations & Designs Inc. opened its doors this summer on July 14th.
“On March 2nd, 2023, Nordstrom announced they were exiting the Canadian market, and on June 13th, I was let go from the company. I am now embarking on an exciting new adventure as I proudly announce the opening of Northern Alterations & Designs Inc. on July 14th in Yorkdale Shopping Center,” says Azamyar.
Image: Northern Alterations & Designs
Azamyar decided to open in Yorkdale Mall as a lot of her customers from Nordstrom were from around the area and supported her opening her own business. The location is 500 square feet and Azamyar designed the space herself.
“I spent a lot of long days and nights cleaning and designing. People stop by to wish me luck, and want to take pictures of the beautiful space. It has been weeks since opening, but customers are giving feedback already and I get lots of love from people in the community.”
Northern Alterations & Designs Inc. offers alteration and tailoring services for men and women’s clothing. Azamyar said her team can repair clothing as well as create customized projects for customers. They work with a variety of fabrics such as leather, fur, suede, silk, organza, double-face fabrics, satin, and more. Customers are welcome to schedule an appointment or walk in to discuss alteration needs.
Rich History of Sewing and Secrecy Under The Taliban
Image: Northern Alterations & Designs
Azamyar has been interested in sewing and making clothes since she was four years old. Once she was older, her father enrolled her into sewing classes, bought her first sewing machine when she was 14 years old, and then hired a tailor to teach her in their home in Kabul. It only took two weeks for Azamyar to learn everything she needed to start sewing for her family and friends.
In school Azamyar was interested in going into medical school, was prepared, and passed the exam which gives a 90 percent chance of acceptance; however, the Taliban took over before she was able to do that and closed everything for women and girls.
“When I was in grade 11, the Taliban came and took control of the country and I wanted to go to medical school. But when the Taliban came, I had to stay at home and the government closed all the doors to education for women and girls. When we wanted to go outside, we needed a man to be with us, and that was my dad – it was hard for my whole family.”
Six months later, Azamyar decided she wanted to do something other than just sit at home, so when she was 17 years old she started teaching sewing to girls and women in her community – in secret from the Taliban.
“I was so scared every single day that the Taliban would find out what I was doing, but I continued. I had the support of my community and they were so happy they were learning. My three sisters were at home too and were in grade five and six. Like my sisters,I thought to myself that there are girls out there that want to continue learning so I started teaching the school curriculum and also sewing in homes.”
Azamyar taught for five years and had around 250 students and in 2008, decided to move to Canada. Azamyar went back to school to study business management and started working.
Learnings from Nordstrom
Image: Northern Alterations & Designs
In 2016, Azamyar started working for Nordstrom and always had a dream of opening her own businesses and when it closed, she jumped on the opportunity.
“My seven years with Nordstrom was the best experience with the culture and people. It really changed me. I remember the day I joined seven years ago and there is a huge difference in my leadership skills. I want to say thank you to Nordstrom as I worked with lots of great people, great leaders, and I have learned so much and I am grateful.”
Now after opening her first business, she is dedicated to providing the best service, best quality, and wants to “make sure every single customer that walks through the door will leave happy.”
Future Growth Plans
Azamyar says she would like to continue to expand throughout Canada and would be looking to go where the previous Nordstrom locations were. The top cities that came to mind for possible openings were in Vancouver, Calgary, Ottawa, and would be interested in looking at other provinces as well. No expansion plans have been made at the moment as Azamyar’s goal right now is to focus on the new Yorkdale location.
In addition to her current location and thoughts on expanding – Azamyar is also considering writing a book on her journey.
“My journey will continue and hopefully one day I will make another dream come true and write a book. It is all so special to me and there is so much detail inside my story. I also want to be very successful here and to hope I will be able to expand to other malls – I really hope I can do it and that is my goal.”
Following a very successful launch of its first store last fall at Metropolis at Metrotown near Vancouver, waterproof footwear brand Vessi will be launching its second store this fall at Square One in Mississauga.
Mikaella Go, Co-Founder and Chief Brand Officer, said the goal is to have the new store open in October.
Mikaella Go
“(The Metrotown) opening has been really great,” she said. “The first day we opened up the store the lineup was insane. It was just crazy. It was so nice to see and since then it’s been really, really good.
“If you take a look at our store in Metrotown, one thing I love about the store is its design. It’s really an homage to the community of that city. Inside the Vancouver one how we’ve designed it like mountains how the shoes are placed, the scenery is about nature. And the one in Toronto is really about the elements of water.
“We’re engaging with local Toronto artists to help us paint murals that would go outside and inside the store. I’m super excited.”
Vessi Square One (Rendering: Vessi)
Go said when the retailer took a look at where its customers were, the Toronto area was one of the areas where the company was strong.
“One of the feedbacks we had is that people really wanted to try on the shoes – the physical product itself. We knew we wanted to open a store in Toronto and what led us to Square One is our customers. We did send out a survey asking where people wanted to shop, we took a look at the demographics of where our customers really were. Square One seemed to be the right place for us,” she said.
The store will be about 2,000 square feet, similar to the Metrotown store, and taking over the old Geox store space.
Vessi at Metropolis at Metrotown (Image: Craig Patterson)
David Garbuz of brokerage Oberfeld Snowcap is representing Vessi in its Canadian store expansion, with other locations said to be in the works.
David Garbuz
“That’s the plan. We definitely want to open up more stores, give people more access to shoes,” said Go. “We’re also rolling out in wholesale slowly. Right now we’re just laying the foundation. We’re looking into different partnerships. Where does it belong? Is it more boutique shops? Is it bigger stores? That’s something we’re still working through it now.”
Vessi is one of North America’s fastest growing sneaker companies. Founded in 2018, its mission is to inspire happiness in all-weather by creating everyday wear that gets people out there, rain or shine. They’ve built up a loyal fan base and have become one of Vancouver’s most beloved brands, and have sold over 1,000,000 pairs of sneakers.
Go said the company will also be launching in the fall its first-ever winter boot.
“It’s really designed for our East Coast customers or our customers that live where there is more ice and slush,” she said. “I’m super excited to launch that. It looks really great and people are going to love it.”
Vessi Metropolis at Metrotown (Image: Vessi)
The idea of Vessi came to the three Vancouver founders of the company who quite simply had it with the rainy weather. So they set out to create a totally waterproof sneaker that not only kept their socks dry, but kept their feet sweat-free, comfortable and looking stylish.
The company was launched on Kickstarter and was solely an online business until the opening of the Vancouver store last year.
The acquisition of adjacent land to its Glenmore Landing shopping centre will provide an opportunity for RioCan Real Estate Investment Trust to pursue another one of its residential densification projects in Calgary.
Andrew Duncan
“The acquisition of a parcel of land adjacent to our existing Glenmore Landing property will allow for densification to transform it into a pedestrian-friendly, mixed-use property with residential and retail options,” said Andrew Duncan, Chief Investment Officer, RioCan.
“We are currently in the land use amendment process to determine the appropriate level of density for the site, supported from a civil, transportation and planning perspective. Once this is determined, the next step is to apply for Development Permit applications, which will be driven by market demand and again, completed in a phased approach.”
Glenmore Landing is comprised of 10.4 acres of land with approximately 147,000 square feet of commercial, retail and office space. The necessity-anchored site boasts a well-balanced, tenant mix. Safeway serves as the anchor tenant, while other tenants include popular brands like Running Room, TD Canada Trust, Good Earth Café, and Starbucks, said the company.
It is one of the original properties in the RioCan portfolio and has consistently been well-tenanted, strong performer. RioCan acquired the property in February 1987.
“The intensification of the Glenmore Landing site is a long-term vision, and the start date is still to be determined. We are in the very early planning stages, and as such, all aspects of the project will be subject to ongoing assessments of various factors, including the evolving needs of the Glenmore community, our tenants, and market conditions. To fully develop the purchased parcels from the City of Calgary, we estimate approximately 15-20 years from start to finish (three distinct phases, and approximately five years per phase),” said Duncan.
“At present there are no plans to redevelop the existing retail or parking, either now or in the foreseeable future. RioCan is invested in sustaining Glenmore Landing’s commercial operations and will work with business owners directly through the site intensification process. The addition of residential units on the purchased parcels is anticipated to bolster the economic viability of both existing and any future retail options at Glenmore Landing.
“RioCan understands that Glenmore Landing is an integral part of the community and is committed to ensuring that tenants and residents in the surrounding communities have opportunities to learn more about the application and provide feedback.”
Glenmore Landing (Image: RioCan)
Duncan said RioCan’s goal is to plan for the future of Glenmore Landing, strengthen its retail capacity, and transform it into a pedestrian-friendly, mixed-use community.
“As an owner, manager, and developer of high-quality retail and increasingly mixed-use properties in Canada’s major markets, we continually invest in our great locations to turn properties like Glenmore Landing into vibrant community hubs where people want to shop, live and work,” he said. “Glenmore Landing is a well-established shopping centre, and one of the original properties in the RioCan portfolio. It has deep roots in the surrounding community and has proven itself as a destination node in southwest Calgary. The strong tenant mix, including grocery stores, pharmacies, banks, personal services, restaurants, and other traditional retail, provides visitors with extensive shopping opportunities.
“The addition of the Southwest Bus Rapid Transit stop on 14th Street SW provides public transit access, connecting the site to downtown Calgary. By densifying the land adjacent to the existing shopping centre, we have an opportunity to provide community members with new housing options with great access to public transit, ensuring Glenmore Landing continues contributing to the growth and success of the area.”
RioCan introduced its residential brand, RioCan Living, in 2018 to deliver best-in-class, purpose-built rental units and condos along Canada’s most prominent transit corridors. They range from rental apartments to ultra-luxury condos.
As at August 1, 11 of the 12 RioCan LivingT buildings in operation are stabilized and are 99.0 per cent leased. Total Net Operating Income generated from its residential rental operations for the Second Quarter was $5.1 million, an increase of $1.7 million or 50.8 per cent over the same period last year. An increase of approximately nine per cent in average monthly rent per occupied square foot on a same property basis contributed to the year-over-year improvement, the company reported in its recent financial results.
As of June 30, 2,575 condominium and townhouse units are under construction and are expected to generate combined sales revenue of over $860.0 million between 2023 and 2026 that can be redeployed to fund its development pipeline. Of RioCan’s six active condominium construction projects, 86 per cent of the total units have been pre-sold, representing 96 per cent of pro-forma total revenues, said the company.
Glenmore Landing (Image: RioCan)
RioCan has a development pipeline of 42 million square feet which includes two million square feet underway, two million square feet shovel ready and 10 million square feet that is zoned.
RioCan has 12 towers across its portfolio ranging in size from smaller ones like a 60-unit tower in downtown Toronto to larger ones like the 590-unit tower at The Well. With the opening of The Well, RioCan will have about 3,000 residential units in operation.
John Ballantyne
“We’ve created a division of RioCan called RioCan Living which designs, identifies the sites where we want to put these towers, builds the proper tower for the site and area they’re located in,” said John Ballantyne, Chief Operating Officer of RioCan REIT, in a recent interview with Retail Insider. “So amenities will change, suite sizes will change, esthetics of the building will change depending on where they are.
“We’ll build them and we’ll operate these residential towers in conjunction with our retail sites that surround them.
“It’s a great opportunity for RioCan to intensify sites, help solve the housing crisis that’s going on in this country and at the same time provide residents with the services that already exist in RioCan shopping centres around them.
“The beauty of our model is that we’re not sitting on land that’s not productive. All of these sites are commercial retail sites. They all have active revenue coming through them.”
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.
Londonderry Shopping Centre (Image: Cushman & Wakefield)
Craig and Lee discuss the transformation and new additions at Londonderry Mall in Edmonton, including a passport office, Shoppers Drug Mart BeautyBOUTIQUE, and a downsized Hudson’s Bay store with a potential outlet concept. They explore how the mall caters to the diverse local community with relevant amenities and retailers.
The Weekly podcast part of theThe Retail Insider Podcast Network by Retail Insider Canada and is available on Apple Podcasts, Stitcher, TuneIn, Google Play, or through our dedicated RSS feed for Overcast and other podcast players.
Announcer 0:00 This is Retail Insider Podcast. You’re listening to “The Weekly”.
Lee Rivett 0:08 Welcome to this week’s episode of “The Weekly” by Retail Insider. I’m Lee Rivett and I’m joined with the owner and publisher of Retail Insider Media, Craig Patterson, to discuss this week’s most read articles on retail-insider.com. So thanks for joining me, Craig.
Craig Patterson 0:22 Hello, everyone.
Lee Rivett 0:23 Now for this week Londonderry Shopping Center in Edmonton, Alberta is our popular article for the week. And Craig, you’re from Edmonton. So this is a near and dear article to your heart. Now they have some new tenants. Hudson Bay has some announcements going on there too. So Craig, where do you like to start?
Craig Patterson 0:40 Well, let’s talk a bit about Londonderry. It’s one of the larger malls in the Edmonton market. I’ve got a long history there myself having lived in the city years ago. Londonderry mall is getting some new tenants, amenities – which are really going to think cater to the local community, which is quite multicultural.
Lee Rivett 0:57 No and I agree. And just some quick facts before we go further from the ‘Cushman and Wakefield’ website (because they are the landlords of Londonderry shopping mall). It was built in 1972 and there was major renovations in 1983. It expanded and 1991 and then was redeveloped between 2014 and 2017. So it was quite a long span. But up into this point, the major anchors have been Hudson Bay, Save On Foods, Winners and Simons. Besides them, there’s 150 stores in the mall. There’s 3500 parking spots and about 217,000 people live within five kilometers of the shopping mall in the Northeast. So yeah, so it’s quite a happening mall. And so besides this kind of snapshot from Cushman and Wakefield website, what’s happening now, Craig?
Craig Patterson 1:43 There’s a few things coming up here. So in 2024, a passport office is coming to the mall.
Lee Rivett 1:49 Totally. And it’s just another amenity, especially since the area so multicultural and diverse right? So instead of standing in line in the middle of nowhere at a Service Canada building, it’s in a mall, which is great. But is there anything from your perspective that this addresses?
Craig Patterson 2:02 I think this addresses a few things this is a way to add foot traffic it’s it’s a non-retail tenant in a shopping center, which is going to bring people in make the center even more relevant than it already is.
Lee Rivett 2:13 Like foot traffic.
Craig Patterson 2:14 I think just be a really great addition to Londonderry – so So kudos to those who put that deal together in terms of getting that lease or however it’s set up with with with Londonderry, Cushman and Wakefield is the landlord. I’ve been talking to various experts, people in the industry around sort of the new retail or non-retail tenants, specifically being retailers moving into such places as shopping centers, and we’re definitely seeing that here with Londonderry. So, again, I think it’s terrific.
Lee Rivett 2:41 So what else is going on to the mall?
Craig Patterson 2:43 Another addition to the shopping center, it’s not the biggest thing, but the Shoppers Drug Mart store at Londonderry is about 17,000 square feet, it’s on the main floor, added a beautyBOUTIQUE.
Lee Rivett 2:54 And for those that don’t know what a beautyBOUTIQUE is, yes, Shoppers Drug Mart is a traditional pharmacy and it does have let’s say groceries and stuff added in. But the beautyBOUTIQUE section is specific for haircare skincare, makeup, fragrances, tools, accessories for men and women. And they literally have staff that have been trained and are knowledgeable in the products as opposed to it just being another aisle in a traditional grocery store. So if you walked into your grocery store and needed some help with deciding what you needed, you’d need to flag down somebody who might be grocery bagger or produce person. And they wouldn’t have any specialty knowledge like what the beautyBOUTIQUE would be in Shoppers Drug Mart so and plus they’d have a much wider more upper class product offerings. So it’s great. They’re expanding that.
Craig Patterson 3:43 There’s, I guess somewhat a lack of a competition there other than the Hudson’s Bay store, but I’ll be talking about that in a moment because I don’t think it’s going to have a beauty department pretty soon. But nevertheless, the Shoppers Drug Mart store they’re expanding in terms of its offerings, having a beauty boutique, I think is a great addition to the neighbourhood again. You’ve got prestige, cosmetics, everything that would be in there that would again drive traffic to Londonderry. Apparently Shoppers Drug Mart is the number one beauty retailer in Canada now in terms of sales, so it makes sense that it would do this expansion and offer these here. So it’s really taken over from I guess what would have been perhaps Sears and Hudson’s Bay in the past, those two retailers I think would have had the bulk of the beauty business, but things have certainly changed. Sephora, of course, is very, very strong as well.
Lee Rivett 4:28 And let’s move into the grocery section.
Craig Patterson 4:30 So a few months ago, we actually did a report on “No Frills” coming into Londonderry, the lower price grocery store chain that’s owned by Loblaw. The store actually replaced a Save On Foods which had been there.
Lee Rivett 4:45 Oh wow. Okay, well, Cushman and Wakefield need to update their lease plan in the details on their website for Londonderry because they still have Save On Foods listed as a retailer So yep, but keep going.
Craig Patterson 4:57 So for those Save On Foods as a western Canadian grocery chain it’s known to be a little bit more expensive, or at least traditionally, I don’t know what’s happening now with prices because they no frills doesn’t seem to seems to be expensive for something with that allegedly has no frills but nevertheless, is replaced, Save On Foods, which in theory may have been a more expensive store at least at the time. I know that things have changed recently, but I’ve been told I talked to someone at Cushman and Wakefield. They said that this no frills store is doing really well. Lots of people coming in lots of foot traffic. So I think it’s really addressing the neighborhood. So, again, I think Londonderry is coming together as this neighborhood center for the community that surrounds it again at the passport office with a grocery store that people can hopefully afford to shop at. With, you know, beauty offering Shoppers Drug Mart that is far more robust, I think, than what would have been there before.
Lee Rivett 5:49 No, totally. And I think Londonderry shopping mall is supporting the community quite well. Is there any other announcements that you wanted to touch upon too.
Craig Patterson 5:58 So probably the biggest announcement here that was made was the retention of the Hudson’s Bay store at Londonderry. So in February, I’d gotten word that the Hudson’s Bay had confirmed it, by the way that the Hudson’s Bay store at Londonderry was was set to close in August of 2023. So that was the plan. And I wrote about it, the Banff store was announced to be closing in the same month. But we subsequently got word that the Hudson’s Bay store at Londonderry will stay open. So there’s one big announcement it’s going to serve the local community, the Banff Store is still closing I should say as well just for those who are wondering. Londonderry is staying open, but Londonderry will be smaller. So right now the store has two floors, it’s got about 118,000 square feet and a little bit of space according to the lease plans that I was looking at. So it’s going to be downsized to about half that. So about 60,000 square feet just to round it off. My understanding is this is going to be a bit of an outlet concept. Which means I think it was a bit of a rollout of a new Hudson’s Bay concept coming out here, which I need to investigate a little bit more before I do further articles and discuss it. But nevertheless, this is what’s going to be happening in Londonderry. So this store is something which will either be off price or outlet or something with prices that will be a bit more value focused, again, I think is going to serve the community around Londonderry, which, again, is a diverse population. It’s not the highest income part of the city. It’s not it’s not I’m not saying it’s poor, but certainly I think shoppers that live in that area and come to that mall are going to be very much appreciative of things that are affordable. I know the Winners store does very well in that mall, in terms of sales. So again, it’s actually a really big beautiful store. I’ve been told these myself, so Londonderry is a really interesting shopping center. So keeping this Hudson’s Bay store I think is great.
Lee Rivett 7:45 So what’s gonna happen with the vacated upstairs?
Craig Patterson 7:49 Now the upper level about – will say 60,000 square feet again – is there’s going to be an opportunity to extend the mall, curve the hallways around so you can walk all the way around and it remains to be seen what type of retail services amenities could be added in there. But I think that Cushman and Wakefield is going to conceptualize something interesting and look at continuing to evolve Londonderry as a shopping center.
Lee Rivett 8:13 Could you go into a little bit more of the current history just because when I went through the ‘fast facts’ – it might not have been fully up to date as we now know buy Save On Foods.
Craig Patterson 8:21 Yeah, so in 2015 it was announced but it was 20 Vic at the time – 20 Vic management, now Cushman, I think bought them out. I think that was how that worked. But there would be an investment of more than $130 million to basically overhauled and Londonderry shopping center and to something that’d be quite new.
Lee Rivett 8:39 Well, now that makes sense that there were several years for that redevelopment listed in the Quick Facts.
Image: Londonderry Mall
Craig Patterson 8:43 One of the big announcements as well was the addition of La Maison Simons – the Quebec City based large format fashion retailer that also has some home goods and whatnot, kind of like a department store – moving into Londonderry.
Craig Patterson 8:57 Just to put a personal spin on the story. In 2015, I was working with the University of Alberta, the School of retailing, which is now a center of cities and communities. It’s merged and grown, but I was working with them and we were working on the Londonderry project actually in a consulting capacity with our student Consulting Group. And Emily Salisbury, our executive director. told me “Craig, don’t report this yet. But the anchor tenant that we got here is Simons” and I thought she was joking, to be honest, because already Simons had a store at West Edmonton Mall. I thought it had a radius clause, which it did. I think that was forgiven. But I always thought, Oh, you’re so funny, Emily. And she’s like, No, no, no, I’m not kidding. And, of course she wasn’t but I just I just do not honestly never would have pictured this. So this was a very substantial renovation. I was toured through here as the renovations were being completed and they were showing me how the ceilings had been raised, and how the facades were able to be raised as a result. So the amount of money and effort that went into this renovation was absolutely massive. I don’t know what the final price was. We had $130-something million as being the number that was thrown out in 2015 when it was announced and when I wrote about it at first when I was permitted to, and I don’t know what the final cost was probably more you know how things are things are always more expensive at the end, but nevertheless, I think it’s the nicest looking mall in the Edmonton market in terms of being a large format shopping center with a renovation nothing against West Edmonton Mall or South Gate or Kingsway, but just the interiors of Londonderry looks a bit like Yorkdale actually, I think someone might have copied somebody but it’s great. I mean, you’ve got the, you know, limestone looking floors, the natural light, the bright Food Court, which I think is a part of the old Eatons space at Londonderry
Lee Rivett 10:41 And it was opened back in the 70s. Right?
Craig Patterson 10:44 Londonderry was built in 1972, or at least it opened I should say 1972. So it’s over 50 years old, a bit older than I am. The was the largest shopping center in Canada, west of Toronto, so in Western Canada, but even beyond. I think Yorkdale would have been bigger and maybe a couple of others, but it was the only two level mall in Western Canada at the time. It had three anchor stores when it opened Hudson’s Bay which is still in its original location where it opened in 1972. And it’ll be a little smaller as I mentioned, but Eaton’s was at another another part of the mall and Eaton’s after it closed in what 1999 I think it would have been or there abouts is now tended by the grocery store by No Frills. There was a food court upstairs and then there’s also a Fabricland and a Dollarama upstairs as well. So having been there a few months ago, so that’s the old Eaton’s box and then there was a Woolco there years ago. Woolco having been another department store in at least I think Western Canada at the time. I think it might have been replaced by a Walmart after that, honestly, I don’t know. I’d have to check on that. But that’s what happened with a lot of the Woolco stores. I remember when I was in grade 12, there was the big transition from Woolco to Walmart. It was an exciting time and Canadian retail even though I don’t think Walmart was doing that well to start. Obviously, now Walmart is wildly successful in Canada.
Craig Patterson 12:14 But Londonderry has a really interesting history, from 1970 to being an important shopping center. It’s continued to progress. I was there a while ago, and there’s lots of independent retailers at Londonderry. It’s quite interesting. Now, it does speak to the fact that I think it had been a bit of a challenge to lease to perhaps leased spaces to some of the big international and international tenants. You know, Londonderry is its its own trade area. But there’s lots of competition in Edmonton having Kingsway mall with stores like Sephora and Lululemon and West Edmonton Mall which has gone one step above with Louis Vuitton and Gucci and South Gate Center, which is a terrific shopping center again with some of the big national and international tenants but Londonderry has, I think, found its place to a degree with some interesting local shops like the 780 local shoe stores local food, and you get a really diverse population of people shopping in there. So I think that for the community, the direction that Londonderry is taking, even if it doesn’t have a big Sephora store in it, like some of the other malls. I think this is the right direction for Londonderry. So I’m excited to see what’s going to happen on the second level of the Hudson’s Bay store as Cushman and Wakefield looks to repurpose that back into retail, and add new retailers, services, amenities, whatever else might happen. So we probably should come back and do another podcast I don’t know in a year or two or whenever that has been figured out. And, you know, those new tenants are in there and we’ll continue talking about Londonderry as being a great community center for Northeast Edmonton, if you can call it that.
Lee Rivett 13:54 When is there anything else you’d like to mention about Londonderry but just to wrap up the podcast at this point?
Craig Patterson 13:59 As the mall has continued to see some updates and changes just recently. I know in 2019 H&M opened a store at Londonderry which I think was a huge score. I mean, that’s not a local type of retailer but it is a fashion retailer which is serving the local population and is not expensive, thank goodness so I got some great socks at that’s H&M store by the way when I was in there last time at Londonderry but again, I think it’s another great tenant that it’s in there. It’s a major I think a great score for the shopping center to get that type of a retailer so it’s right by Simons and Simons itself I mean, the store is beautiful. They all the new ones are It’s got our you know the artwork piece in the center. It’s not a luxury heavy Simon store like at West Edmonton Mall which has all kinds of luxury brands but sometimes I almost prefer shopping the Londonderry one just because it’s a bit quieter but it’s got a lot of the private label stuff it may not have sold out like the like the West Edmonton Mall store. I like the private label stuff from Simons it’s affordable and quite had edgy or at least fashion forward in many cases, and the quality isn’t that bad either. So I a great store. I mean, I’m just a big fan of Simons at Londonderry and Simons is generally so open in downtown Toronto and Vancouver, please is my word for Simons. But that’s a whole other discussion here that I’ve been talking for a while.
Image: Londonderry Mall
Lee Rivett 15:21 Oh, it’s all good. And thanks for going through this popular content for the week. I know you’re from Edmonton. You love Londonderry. You had done some work on it. So this is going to be great. And again, thanks for going through it and talk to you next week.
Craig Patterson 15:32 Thank you so much everyone for listening. Take care and bye for now.
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