Dubai-Based Asian Street Food Concept ‘Wok Boyz’ Expands into Canada with Plans for Multiple Locations [Interview]

By

-

February 20, 2024

Wok Boyz, an Asian street food restaurant based in Dubai, has opened its first location in Canada and is looking to expand by at least 15 stores within the next five years.

The first location in Canada opened on January 26th in Liberty Village in Toronto and is 1,000 square feet.

“Starting in Dubai in 2017 as a humble homegrown brand, we have woven our journey through expansions and challenges, notably the global pause brought by the pandemic. Adaptation became our strategy, leading us to explore the cloud kitchen model, which significantly propelled our growth. Today, with immense pride and a sense of coming full circle, we are introducing our unique blend of personalized Asian cuisine to Toronto, a city I have always considered a second home. It is not just about opening another location; it is about bringing a piece of our journey, our flavours, and our innovative dining experience to the vibrant heart of Canada,” says Gaurav Sabharwal, CEO and Founder of WOK BOYZ.

Toronto, known for its vibrant food scene and diverse population, was a natural choice for the brand’s first location in Canada. Sabharwal, who is Canadian himself, was drawn to Toronto because of its dynamic growth and the opportunity to introduce a new culinary concept to his home. Liberty Village, with its mix of young professionals, offered the perfect setting for the brand’s first location.

Personalized Meals

The Liberty Village location offers an innovative dining experience, where customers can take the lead in their meals. Customers can choose from a variety of noodles, rice, proteins, vegetables, and sauces that represent different Asian countries – “offering a culinary experience that is diverse and delicious.”

The experience is topped off with a “theatrical flair” as meals are prepared on a fiery wok in front of customers.

“Imagine walking into our space, where you become the artist of your meal, crafting it with a palette of flavours from across Asia. At the core of our menu is the build your own concept … It is all about creating a dish that is uniquely yours watching it come to life on a fiery wok right before your eyes. This personalized experience, where you are not just a spectator but a participant in the creation of your meal, is what sets us apart.”

Expansion Goals

Looking ahead, the brand has ambitious plans for the Canadian market. The goal is to open at least 15 stores in the Toronto area within the next five years, including Mississauga, Milton, and Kitchener, and wants to grow its footprint to “become part of the Canadian dining landscape.”

This year, WOK BOYZ will be opening three new locations, with the next one potentially in Kitchener.

Outside of the GTA, the brand is going to be starting its search to expand into new provinces, such as British Columbia. Sabharwal says he hopes to secure the location as soon as possible and start development, but until then, an exact location will be unknown. As for other locations, the brand is looking for the right opportunity, and would “love to get into Mississauga. Once we have the right location, I think we will commit and move forward with the development plan.”

15 store locations is the minimum to expect within the next five years as Sabharwal says if there are other opportunities to take up, he will.

“As far as our vision for Canada goes, we are just getting started. This year, we are aiming to unveil three stores in the Toronto area alone. With the first one already making waves, we are on the hunt for our next location, eyeing spots in Kitchener for its dynamic atmosphere and potential – but why stop there? Over the next five years, we have set our sights on a minimum of 15 stores within the GTA, and let’s not forget about our dreams for Vancouver and beyond. It is not just about numbers for us; it is about weaving our brand into Canadian communities, bringing our unique flavours to every corner of this vibrant country. The Canadian market is huge and the opportunity is immense.”

Sabharwal says he is also looking to continue expanding internationally as WOK BOYZ has already had successful launches in places such as Ghana and has recently opened in Oman.

As for keeping up with what consumers are looking for, the brand continues to innovate by tracking feedback and adapting to be aligned with their preferences. WOK BOYZ’s in-house chef is also constantly creating new recipe developments and is currently working on a new dish for the next quarter.

“I look forward to working in Canada and our start has been brilliant. We managed to have about 250 people on the day of the launch at Liberty Market, so it was fantastic and a very encouraging launch – Toronto is showing us a lot of love. The level of feedback and comments we are getting is amazing and I think Torontonians really know how to express their comments that we can use. So we are really thankful for all the love that Toronto is showing us and we look forward to leveraging on all of that and tracking our growth.”

Calgary Surge Basketball Team Launches Innovative Pop-Up at CF Chinook Centre to Boost Community Engagement [Interview]

By

Mario Toneguzzi

-

February 20, 2024

Calgary Surge at CF Chinook Centre (Image: Mario Toneguzzi)

The Calgary Surge of the CEBL (Canadian Elite Basketball League) has opened a pop-up location, selling tickets and merchandise, at CF Chinook Centre, the city’s most popular shopping centre.

The location on the second level of the mall, near the former Nordstrom space, and across from SportChek and Sunrise Records, opened February 1.

“For the past few weeks and maybe for another two it really is to just get situated within the community that comes to Chinook Centre,” said Jason Ribeiro, Vice Chairman and President of the team.

“I think you’re starting to see us figure out and keep adding to the space. So we’ve almost recreated a mini basketball court on the floor. It’s got our decals now. We’re able to sell apparel. We’re able to draw attention to the Surge 2 The Dome, one night only event, season opener that will be nationally broadcast on TSN.

Calgary Surge at CF Chinook Centre (Image: Mario Toneguzzi)

“But through the engagement with the other surrounding stores, our partners at Chinook, now we’re starting to discover what’s really valuable to the community and the patrons of the store and how we can drive traffic to the broader shopping centre itself. So you’re going to see us start to experiment with the space and have it be a place not just for apparel and ticket sales but contesting, performance, surprises, player appearances as we get closer to the season start.

“It’s really just trying to figure out the space for the next few weeks here and then really ramp up that activation aspect in the months ahead.”

The first game of the 2024 season will take place Tuesday May 21 against provincial rival, the Edmonton Stingers, at the Scotiabank Saddledome. The team’s normal home court is the WinSport Event Centre.

Darren Milne, General Manager of CF Chinook Centre, said the shopping centre continues to partner with organizations who share similar values.

“Like us, the Calgary Surge are interested in creating vibrant communities. The Surge Experience Hub is the first step in our partnership; and we look forward to our continued relationship with them,” he said.

Ribeiro said the pop-up is new both for the sports team and for the mall.

“This is something that could be temporary. This is something that could be longer standing. And I think as we get in through the season, it certainly is really busy from our end, and so I know the arrangement we have is to carry this through to season start and then I think in that four month period we’ll really know what the space affords both parties and then I think have a really good foundation to continue to build and continue to experiment,” he said.

“We didn’t know what the space would do and the response for us has been overwhelming . . . People are coming from the Surge fan base and really re-discovering Chinook as a result of the affiliation with the Surge because we haven’t had a retail offering. For us, this is a three to four month playground for both sides to really understand what is the value of having a professional sports team activating but activating in a really unique way that’s not just sales driven but really experience driven. That’s at the core of why we named it the Surge Experience Hub because we are going to bring the best of the game day experience, the best of the community engagement side of the Surge, to CF Chinook Centre.”

Ribeiro said the pop-up’s location is an interesting spot and it’s a test. It’s not a heavily populated area of the mall. But with the Surge’s presence there now and the Mirror Mirror immersive art experience right below it will draw people to that end of the mall.

The space the Surge has allows for a lot of functionality with different experiences, he said.

“When we are in season, we’ve had initial discussions about what does the rest of the mall look like when we’re up and running and we do have our players. While we’re starting with this one dedicated space beside the entrance where Boston Pizza is, I think we’re starting to figure out the right formula for when we do need to do a bigger activation on the main floor or with a larger space. I’m imagining a full size or half size basketball court,” said Ribeiro.

“What can we take from the learnings of the next few months and apply it and then bring out all of our players, introduce ourselves to a larger mass audience, than the space currently provides.”

For now, the pop-up location is what Ribeiro describes as the “dream intersection” for the Surge with sport, music, arts and culture.

“We find ourselves at the intersection between I think two really distinct and related partners but then right over top of that Mirror Mirror art exhibition. I couldn’t think of a better place for us to be in terms of the partners we’re next to,” he said.

Canadian Retail News From Around The Web For February 20th, 2024

By

Retail Insider

-

February 19, 2024

News at a Glance

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 several days.

Young shoppers keep cosmetics hot despite inflation (Canadian Press)

Many Canadians are fed up with shrinkflation. So what’s being done about it? (CBC)

Tip of the iceberg? Experts warn plunge in Canadian Tire profits point to economic storm ahead (The Star)

Closures and layoffs loom in ‘tough time’ for retailers — but glimmers of hope still exist (Financial Post)

Thieves stole $1,000 in Optimum points from this woman. Here’s how to safeguard your points (CBC)

How grocers decide what gets donated and what gets dumped (Canadian Press)

Opinion: The bad and the ugly of supermarket self-checkouts (Globe & Mail)

What is ‘ungraded’ beef? Label at Loblaw-owned grocery store sparks confusion among shoppers (The Star)

Cannabis stores in Canada evenly distributed across different neighbourhood types (StratCann)

Romance novel boom spurs new bricks-and-mortar bookstores in Alberta (CBC)

PHOTOS: Maxi opens new store in Montreal (Grocery Business)

Food service and retail top the list of occupations for invited P.E.I. immigrants (CBC)

Fewer than half of auctioned SLGA liquor store licences in operation (650 CKOM)

What grocery stores in Vancouver looked like in the 1900s (VIA)

Upscale Pusateri’s Fine Foods to Close Yorkville Grocery Store in Toronto After 20 Years

By

Craig Patterson

-

February 19, 2024

Bay Street entrance to the former Pusateri's Fine Foods at 57 Yorkville Avenue in Toronto. Photo: Craig Patterson

The upscale Pusateri’s grocery store in Toronto’s Yorkville neighbourhood will be closing at the end of March after more than 20 years in operation. The store opened to much fanfare in October of 2003 with valet parking, private chefs and marble-clad interior.

Pusateri’s said that it made the decision to not renew the lease on the retail space at 57 Yorkville Avenue. The corner retail space, fronting Yorkville Avenue and Bay Street, spans about 5,500 square feet — a smaller concept than the chain’s other three locations in Toronto.

It’s not yet known what will replace Pusateri’s at the prominent corner. Given the size of the space and the fact that it has kitchen facilities, a restaurant could be a good guess.

Exterior photo of Pusateri’s Fine Foods store at 57 Yorkville Avenue in Toronto. Photo was taken from Bay Street and Yorkville Avenue. Photo: Craig Patterson

Yorkville Avenue entrance to the Pusateri’s Fine Foods store at 57 Yorkville Avenue in Toronto. Photo: Craig Patterson

Pusateri’s Fine Foods store at 57 Yorkville Avenue in Toronto. Photo: Craig Patterson

Inside the Pusateri’s Fine Foods store at 57 Yorkville Avenue in Toronto. Photo: Craig Patterson

Pusateri’s opened its Yorkville location to much fanfare, with an article in the Globe & Mail on October 3, 2003, describing the glamorous store. That included Pusateri’s having valet parking on Bay Street, as well as staff in the store serving fresh pasta or sushi. A chef in the store was on hand to cook a steak that a customer may have just bought, and a juice bar was built around an orange tree.

The relatively small store had a whopping 120 staff at the time of opening. The service-heavy store was intended to serve the growing and affluent Yorkville area, which was seeing new high-density residential development including an upscale rental apartment building directly above the new Pusateri’s.

The store’s interior was far more upscale than other Toronto grocers, featuring glass, steel and polished marble. The store’s decor ranged “from ultramodern to Baroque to art-deco luxury liner,” according to the store’s president Frank Luchetta in the 2003 Globe & Mail article.

Shoppers at the store could bring home one of more than 40 cooks on staff in the store to prepare food — hiring a cook for a dinner of eight cost $200 at the time, not including the cost of food items.

In 2003, Pusateri’s paid the City of Toronto $75,000 to create a valet parking area on Bay Street, which involved cutting out part of the sidewalk to park cars. In 2013, new counsellor Kristyn Wong-Tam made the decision to widen the sidewalks, thus eliminating the valet parking.

Photo showing the former Pusateri’s valet parking area that was eliminated in 2013. Photo: DAVID COOPER / TORONTO STAR

Pusateri’s has been a key shopping destination for many in the neighbourhood, and its cafe area is also a gathering place where some locals sit and chat. Retail Insider spoke with several locals who were upset with news of the store’s closure.

Pusateri’s is one of several grocery stores operating in the Bloor-Yorkville area. Others include a Loblaw City Market at Manulife Centre, Longo’s at the former Hudson’s Bay Centre at Bloor Street East and Park Road, and a Whole Foods store at Yorkville Village, which opened a year before Pusateri’s in 2002. Eataly at the Manulife Centre also has a range of grocery items, and three 24-hour Rabba grocery markets can be found within an easy walking distance.

The neighbourhood saw another upscale grocery store close in late 2021 when McEwan, operated by celebrity chef Mark McEwan, shut amid his company’s bankruptcy. It was located in the basement of the 1 Bloor Street East tower podium, and soon will be replaced with The Ballroom bowling concept.

Pusateri’s continues to operate its flagship store on Avenue Road near Lawrence Avenue in Toronto, as well as a store at the Bayview Village shopping centre. It also operates the ‘Saks Food Hall’ currently located on the lower level of the Saks Fifth Avenue store in downtown Toronto, contained within the Hudson’s Bay flagship store building. Last year, Pusateri’s closed its Saks Food Hall at CF Sherway Gardens. This spring, Pusateri’s is opening a new store near Toronto’s Little Italy at 899 College Street.

Loblaw and Walmart Could be Forced to Adhere to Grocery Code of Conduct with Legislation [Op-Ed]

By

Sylvain Charlebois

-

February 19, 2024

Walmart Canada at Hillside Shopping Centre in Victoria, BC (Image: Walmart Canada)

The Parliamentary Committee in Agriculture in Ottawa has embarked on a mission to address the rising food prices, extending an invitation to both Loblaw and Walmart. In a letter from the committee to both Loblaw and Walmart sent on Friday, Ottawa urges both retailers to voluntarily comply with the proposed grocer’s code of conduct or risk facing legislative action. In other words, Canada is on the verge of adopting a government-coordinated, industry-led mandatory code—a development that heralds good news for Canadians, though many may not yet realize its significance.

Unprecedented unity among all political factions underscores the grocer’s code of conduct as a pivotal tool for stabilizing food prices over time. This code aims to furnish food companies with a safe harbour for dispute resolution through a designated secretariat, offering an alternative to the current norm where companies have no recourse but to endure unfavourable conditions. Its focus is not on dictating prices but on ensuring fair contractual practices for all entities involved, including startups, farmers and small family-owned food processors, thereby offering much-needed financial predictability to suppliers. The industry, plagued by unilateral decisions and broken agreements by grocers, stands to gain from the equitable playing field this code promises.

Loblaw Empress Walk (Image: Dustin Fuhs)

The code’s introduction might seem paradoxical to staunch free-market advocates and Conservatives who typically view government intervention with skepticism. Companies like Walmart and Loblaw, having achieved their market dominance through strategic decisions, are often celebrated for their success. However, the issue at hand transcends their accomplishments.

The food industry is distinct for two primary reasons: Firstly, it operates on razor-thin margins across the entire supply chain, necessitating meticulous planning and coordination. Secondly, the power dynamics are skewed, with suppliers needing to pay substantial fees to grocers for the privilege of doing business with them. It doesn’t work that way in other sectors. This dynamic has bestowed upon grocers’ significant gatekeeping power, influencing the market to their advantage.

This dominance has not only stifled competition but has also marginalized independent grocers, particularly affecting Canadians in smaller towns by limiting their access to nearby stores. The upward trend in grocery fees, primarily driven by Loblaw and Walmart, exacerbates the challenges for suppliers and independent grocers alike.

It’s crucial to understand that the code’s goal is not to reduce prices—such expectations would be fanciful—but to mitigate price volatility, a pervasive issue that overshadows the more fundamental problem of food inflation. While higher prices are concerning, it’s important to recognize food inflation as a normal economic phenomenon, essential for businesses to thrive and ensure the safety of food products. Achieving a food inflation rate of 1.5% to 2.5%—a range last seen in the summer of 2021 and anticipated to return by year’s end according to Canada’s Food Price Report forecast—is ideal.

Price volatility, exacerbated by increased grocery fees and the manipulation of prices around blackout periods, remains a significant concern if the aim is to reduce price volatility. Although the code may not eliminate these practices, it is poised to reduce their impact on retail food prices significantly.

Walmart Canada Edmonton Kingsway Walmart Supercentre in Alberta (CNW Group/Walmart Canada Corp.)

Moreover, the code promises greater transparency within the food chain. An annual report by the secretariat, detailing compliant companies and highlighting those failing to adhere, introduces an unprecedented level of accountability in Canada’s food industry.

While the grocer’s code of conduct may initially seem counterintuitive to some, its benefits for consumers, suppliers, and the overall market cannot be overstated. It represents a step towards a more equitable and stable food industry in Canada.

Factory Direct to Shut All 14 Stores Amid Bankruptcy, Liquidation to Begin Saturday

By

Craig Patterson

-

February 16, 2024

Factory Direct Niagara Falls (Image: Factory Direct)

Vaughan, Ontario-based discount retailer Factory Direct’s 14 stores are closing with liquidation sales beginning this weekend. Factory Direct filed an NOI under the Bankruptcy and Insolvency Act on February 7th and court approval on Thursday gave the green light to liquidate the chain.

Factory Direct said in filed court documents that it had struggled with declining sales and increased costs following the pandemic. The retailer listed liabilities of about $3.5 million as part of its filing, including approximately $1.6 million in termination and severance pay owed to its employees. High economic inflation and increased minimum wage requirements resulted in significantly increased overhead costs for the company, which failed to see sales increase enough to make the business profitable. The company lost about $1.7 million for the 11 month period ending November 30, 2023, according to court documents.

Much of Factory Direct’s merchandise also falls under the ‘non-essential’ category, including such things as televisions and mobile phones. Demand for these goods has decreased recently with an economic slowdown in Canada, including reduced consumer spending on non-essentials. Increasing inflation and housing costs are squeezing many Canadian households, which have shifted spending as a result.

Online marketplaces and related increased competition were also to blame for Factory Direct’s demise, according to filed bankruptcy documents, including wholesalers entering the direct-to-consumer business.

Factory Direct’s 14 stores are all in southern Ontario, and many are month-to-month leases according to court documents. The large-format stores span as large as 14,000 square feet each. Stores are located in the Greater Toronto Area as well as Ottawa, Barrie, Brantford, Hamilton, Kitchener, London, Niagara Falls, and Windsor. At one time, the chain had 24 stores in Ontario and hundreds of employees. Part of the bankruptcy proposal includes compensation for employees under the Wage Earner Protection Program, as funds likely won’t cover what’s owed to the 200 remaining employees of the company following the bankruptcy.

On Thursday, February 15, an Ontario judge approved a consulting agreement for the liquidation of Factory Direct, which will be handled by A.D. Hennick & Associates Inc. and Danbury Global Ltd. Liquidation sales at stores begin the morning of Saturday, February 17. A wide range of products are available from major brand names with cell phones, computers, appliances, TV and home theatre, furniture, speakers, kitchen and other items. Brand names include Apple, Samsung, LG, Dell, Panasonic, Cuisinart, Danby and others.

Alex Hennick of A.D. Hennick & Associates said in an interview that Factory Direct was a terrific retailer, and that the business had struggled financially due to a variety of factors and as a result, is no longer viable. It’s an unfortunate situation that he said will become more commonplace with more retailer bankruptcy filings expected this year. Hennick said that he’s receiving considerably more calls this year than last from retailers struggling and looking to potentially file/liquidate, which indicates a concerning trend that we’ll be reporting on further in Retail Insider.

Additional Images from FactoryDirect.ca

Store Images Pre-Closing

Canadian Retail News From Around The Web For February 16th, 2024

By

Retail Insider

-

February 15, 2024

News at a Glance

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.

Canadian Tire reports Q4 profit and sales down compared with year earlier (Canadian Press)

Quebec cannabis store SQDC posts CA$33 million Q3 net income (MJ Biz)

Grocery prices in Canada: Price on historically cheap deli meat goes viral — ‘pure baloney’ (Yahoo)

Association head Ron Lemaire discusses produce supply, pricing concerns at government hearing (Grocery Business)

Record Store Day Canada 2024 unveils its picks and participating stores (Georgia Straight)

Dax Dasilva returns to Lightspeed as interim CEO, JP Chauvet steps down (Canadian Press)

Restaurants Brands expects to have 40,000 restaurants, $60B in sales by 2028 (BNN)

After 70 years in business, NDG store says reserved bus lane hastened closure (Global)

Victoria’s Rooms + Spaces closes just months after grand opening (Victoria Buzz)

Closing of Vaughan’s General Store in Halifax attributed to pandemic, economy (The Signal Halifax)

Rennaï Signals the Future of Beauty Retail (Beautymatter)

Sault OPP recover over $200K in items stolen from local stores (SNnewswatch)

What to Expect for the Canadian Retail and Hospitality Sectors in 2024 [Video Interview]

By

Mario Toneguzzi

-

February 15, 2024

The Canadian retail sector in 2024 is a page out of a Charles Dickens novel where we had the best of times with robust consumer real estate construction and leasing activity with new retail brands expanding in the Canadian market along with sales surges in the luxury and value sectors, says Michael Kehoe, Broker/Owner of Fairfield Commercial Real Estate in Calgary.

“Certainly the best of times in Alberta continue with significant population growth driving new household formation and retail and restaurant sales,” he said.

“Charles Dickens would agree that it’s also the worst of times for some retailers as it was a mild fall and winter in some parts of the country and for many this resulted in underwhelming and lacklustre sales performance. Retail sales were up in some sectors but disappointing in others.”

Winners at The Norman Block in Calgary (Image: Fairfield Commercial Real Estate)

Kehoe said many retailers are challenged with controlling their overhead, particularly the cost of wages and salaries, escalating rents and occupancy costs. Other challenges continue like interest rates, supply chain issues, the payback of pandemic era government loans, slimmer tenant improvement incentives and now rising theft and shrinkage. There is definitely a flight to quality locations across the retail spectrum.

“The major challenge in 2024 will be catching the consumer’s attention amid the noise of doom and gloom in the media with recessionary talk and geo-political events that include two wars. Consumer confidence is critical,” he said.

“The concept of organized retail over the past 900 years has evolved into what we now refer to as shopping centres and here we are in 2024 and it’s a landlord’s market. No surprise there. Over my 47 years in the industry, I can say that the pace of change at this time is unprecedented. The ability of today’s sophisticated shopping centre owners to quickly cycle space to new and fresh retail and food service concepts is impressive. This ensures that shopping centres remain relevant to the shopper with fresh offerings and experiences are available for consumers who have many shopping and dining options.”

Kehoe said he is expecting 2024 will be a year of robust leasing activity, constant churn stores and restaurants coming and going.

“On the human capital side of the business as a consumer real estate broker, I see many of my industry colleagues that have jumped ship, changed firms, walked the plank or just faded away. In retail brokerage there was a significant shuffling of the deck as brokers and sometimes entire teams changed firms or created new ventures. The large brokerage firms absorb smaller firms and compete for market share. Many of the big national brokerage firms know that it takes more than a big brand acronym and a fancy website to retain talent and stay competitive,” he said.

“One final point to make; watch for the emergence of “Net Zero Retail” in shopping centre construction and retail store and restaurant build outs. This is sure to drive up costs.

Future Mad Radish and Renovated Starbucks at Yonge & King in Toronto (Image: Dustin Fuhs)

“The retail and food service business is a Darwinian struggle at the best of times. It’s no longer a matter of survival of the fittest. It’s survival of the innovative, the quick to adapt to change and new trends. As shopping centre landlords focus on tenant financial covenants, 2024 is the year of the survival of the financially stable.”

In this video interview, Michael Kehoe, Broker/Owner of Fairfield Commercial Real Estate in Calgary, discusses how 2024 is shaping up in the world of retail real estate, the challenges facing Canadian retailers and the food and beverage industry, where do we go from here and the trends to watch for this year, why it’s a landlords’ market today, and why it is still appealing for entrepreneurs to start up new businesses despite the challenges.

Connect with Mario Toneguzzi, a veteran of the media industry for more than 40 years and named in 2021 a Top Ten Business Journalist in the world and the only Canadian – to learn how you can tell your story, share your message and amplify it to a wide audience. He is Senior News Editor with Retail Insider and owner of Mario Toneguzzi Communications Inc. and can be reached at mdtoneguzzi@gmail.com.

The Video Interview Series by Retail Insider is available on YouTube.

Interviewed this episode:

Michael Kehoe

Like, Share and Subscribe to Mario Toneguzzi on YouTube!

Follow Mario:

LinkedIn: https://www.linkedin.com/in/mariotoneguzzi/
Instagram: @MarioToneguzzi
Twitter: @MTone123

Also check out the other series offered by Retail Insider, including The Weekly podcast and The Interview Series, which are both available on Apple Podcasts, Stitcher, TuneIn, Google Podcasts, or through our dedicated RSS feed for Simplecast and other podcast players.

Follow Retail Insider:

LinkedIn: www.linkedin.com/company/Retail-Insider
Facebook: https://www.facebook.com/RetailInsider/
Twitter: @RetailInsider_
Instagram: @Retail_Insider_Canada

Share your thoughts!

Anatomy of a Leader: David Lui, CEO of Kit and Ace and Co-Founder of Unity Brands

By

Mario Toneguzzi

-

February 15, 2024

Anatomy of a Leader David Lui, CEO of KIT + ACE

Retail has been part of David Lui’s DNA from a very young age.

“I was born and raised in an entrepreneurial family. My dad immigrated here to Canada,” said Lui, who is CEO of Kit and Ace and Casca Designs, and co-founder of Unity Brands. “I was inspired by what he was doing. He was running retail like grocery, restaurants. Somewhat typical of an immigrant family.

“I was inspired and I just thought I want to get into the business. So what I did when I was 18, at that time there was a huge influx of folks from Hong Kong coming into the city, and I wanted to do something that was relevant to them. So I just made cold calls into Hong Kong to some companies to a fax machine. Received their response. Flew over there to negotiate. I won exclusive licence for a Hong Kong-based brand and brought it into North America.

“So I started opening my own freestanding stores. I had 12 stores. Six stores in Vancouver. Six stores in Toronto. Had a great 10-year run with it. Women and men’s apparel built more around the casual and work inspired and it was a very popular brand in Hong Kong at the time. My motto was let me bring something from their home to their new home in BC and Canada. That was my vision.”

Eventually, he moved out of the business due to some issues with a partner, took six months off and then went into corporate life.

David Lui (Photo: Andrew Marek – Supplied by David Lui)

Lui was born and raised in North Vancouver.

“At the young age of 18 I had the decision of to either go post-secondary or go into business. So I just decided to go into business. I was too impatient. I wasn’t a fan of school. So I didn’t pursue school.”

He did however go back to school and received his Executive MBA in 2013 from the Ivey Business School at the University of Western Ontario.

Lui is a co-founder of Unity Brands, a company he formed with Joe Mimran and Frank Rocchetti. Unity Brands acquired Kit and Ace and Casca footwear. The company also purchased Mastermind Toys. He is also the co-founder and CEO of Motive Brands Collective, a company that specializes in investing in emerging consumer brands.

Lui has an extensive background in retail with over 30 years of retail and marketing experience and is known for his award-winning brand transformations, e-commerce and digital knowledge along with his passion for scaling businesses.

David Lui from Business in Vancouver Article, November 25th, 2003 (Photo: Dominic Schaefer – Supplied by David Lui)

He has worked and led many retail brands including Theme, Esprit, Mark’s, SportChek (Canadian Tire Corporation) and most recently, he was the CEO at Korite International. In 2022, he was ranked 11th in the Global CEO Awards. His portfolio includes being named CEO of one of the Fastest Growing Companies in Canada (2x), Fastest-Growing Company in British Columbia, Canada (2x), winner of Canada’s BDC Young Entrepreneur Award, and a Business in Vancouver Forty under 40.

“My parents being in retail it was just something I fell in love with,” said Lui. “Quite frankly I’ve never left retail. I just love the pace of it, the energy, ever-changing. I’m a bit of an adrenaline junkie – one that takes some risks.

“I tried my hand into software, marketing for software, there’s some transferable skills from a marketing perspective but I missed the action of retail. Quite frankly, I missed the action of apparel. I love the fashion. I love trends. I love how people dress. What is casual. What is formal. I just love apparel.”

Lui said his father taught him a lot as a young kid. How to stock shelves. How to stock milk. How to cut vegetables. He would accompany him on buying trips at wholesalers or auctions.

“I was working the cash desk at a very young age. I just loved it. Meeting people with the customer on the floor. My dad taught me well. I think my dad probably wanted me to carry on the business but I decided I wanted to get into fashion,” he said.

David Lui from Richmond Review Article, December 6-7, 2003 (Photo: Chung Chow – Supplied by David Lui)

When it comes to business, Lui’s philosophy is the importance of reinventing oneself and challenging oneself.

“It’s never steady Eddie. It’s really continuously evolving. Challenge yourself. And don’t get complacent,” he said.

“Details. Be very detail oriented. If you’re an entrepreneur, you have to know your numbers. You have to know how things work. And as you progress, grow and scale, let your team do the work but have a foundation of understanding how things work that you can still stay on the pulse of it but not micro manage it.”

David Lui from Profit Magazine, June, 1996 (Photo: Perry Zavitz – Supplied by David Lui)

Lui said retail never was easy for him. Not an easy ride. It’s ever changing. Bricks and mortar to e-commerce and now a re-acceleration of bricks and mortar with an e-commerce and omni channel presence. Coming out with better product is the key.

“It’s a tough business but it’s an exciting one at the same time,” he said.

Lui is a busy man juggling all the brands these days. The busy schedule of an entrepreneur can take its toll both mentally and physically on people.

“About 13 years ago I decided I am going to get healthy,” he said. “When I went through my career in being busy, moved around quite a bit, fortunate to have an understanding wife that traveled with me, but I was 50 pounds heavier. I just decided that health was way more important.

“I decided I’ve got to get back into it, I confess. I do a lot running, cycling. That’s what I love doing. I think that calms my mind and I need to do more of that now. My kids always inspire me. At their activities and events. I would coach their soccer team. My family is definitely an electrical outlet for me because they charge me up.

“Work of course charges me up, too.”

Canadian Retail News From Around The Web For February 15th, 2024

By

Retail Insider

-

February 14, 2024

News at a Glance

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.

Lululemon marketing complaint could be a test of Canada’s greenwashing laws, expert says (CBC)

Shopify’s Christmas quarter performance exceeds expectations (Apparel Resources)

Grocery prices in Canada: Shoppers shocked at $16 watermelon, but expert says that’s not so outrageous (Yahoo)

LCBO drops plans to scan customer ID’s at northwestern Ontario stores after directive from finance minister (CBC)

Summerhill Market opens sixth location in Etobicoke (Grocery Business)

Toronto artist gets takedown notice for anti-Loblaw parody merch: ‘I’m ready to go to the Supreme Court’ (Yahaoo)

Ontario’s independent cannabis retailers band together to tackle predatory pricing (StratCann)

Montreal River Outpost expands to include Churchill River Canoe Outfitters (Prince Albert Daily Herald)

PHOTOS: Toronto Mayor Olivia Chow celebrates Lunar New Year at T&T Fairview Mall (Grocery Business)