Canadian Retailer Busy Bee Tools Sees ‘Incredible Growth’ with Plans for New Store Locations [Interview]

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February 28, 2023

Busy Bee Tools has experienced incredible growth in the past few years and is now poised to expand its retail footprint to more locations in Canada.

The retailer, which was established in 1976, currently has 10 locations – one in BC, two in Alberta, six in Ontario and one in Nova Scotia.

“I took over as President about four years ago. In that time, the company has grown by 61 per cent,” said Hanif Balolia, President of Busy Bee Tools. “We recently went through a wave of retirements on the senior management side. Part of me taking over, one of the biggest tasks was actually rebuilding the senior management team.

“The majority of our team at head office is actually quite young and we have some pretty significant growth plans. In 2021, we expanded our head office and distribution centre by 20,000 square feet and that allowed us to keep up with our growth. We have expanded significantly through e-commerce but also focusing on same store sales.

“We obviously didn’t want to open a new brick and mortar location during COVID. That would not have been wise. But brick and mortar we still see fantastic potential for our locations. The reason for that is because of the type of product that we carry, the product mix. It’s still a lot of heavy machinery and customers do like to see that still in person. We’re not competing too heavily with the Amazon’s and the large third-party players when it comes to machinery.”

In 2022, the retailer invested heavily into its digital infrastructure across the company, added Balolia.

“That was a big venture for us. That was very important to me to make sure our digital transformation and our digital structure was very sound to allow us to grow. That allows us in theory to have what we like to call a store in a box. So we can effectively open locations faster because we don’t have to worry so much about technology anymore like we used to,” he said.

“So our plan right now after these two significant things were done which was the expansion of our distribution centre and completing our digital transformation the plan is to now scale e-commerce even further, grow our product line, grow our product offering and open more locations with a focus on Ontario to begin.

“We have six locations in Ontario at the moment. I personally feel that the market is still underserved for our products. Ontario is a strong province. Our customer base is vast in Ontario. Our head office is in Ontario which allows for greater control and operational efficiency. The changes we’ve made in the last few years are allowing us to now capitalize on this potential growth.”

The Behar Group Realty Inc. is handling the company’s real estate needs.

The brand was started by Balolia’s father in Burnaby, BC.

“The original background is we were actually in the dry cleaning business and the family had 10 dry cleaning stores called Busy Bee Dry Cleaners. If you go to Vancouver, you’ll still see that brand is still there,” said Balolia. “My dad and his brother got out of the dry cleaning business a long time ago.

“They had a passion for tools and we were one of the first importers of woodworking machinery in Canada. So they began importing woodworking and metalworking machinery from Taiwan back in 1976-77 and the interest in the tool was growing. It was specifically growing among serious do it yourselfers, people who were doing this part time, making furniture, very crafty with their hands and machinery at the time was very expensive. You had a couple of main brands you could buy from.

“They started importing and that was obviously enough to show the family to get out of the dry cleaning business. We moved the head office of Busy Bee to the Toronto area in 1985 and the reason for that was just more opportunity for growth and we saw that as being a better location for our head office and from there we started to grow the business.”

The company today has a large and growing e-commerce business.

Typical store size is about 10,000 square feet although Edmonton, which is the largest, is about 14,000 square feet. The smallest store is London at just over 7,000 square feet but it will expand to 10,000 square feet.

Balolia also operates two other businesses. In 2009, he started an e-commerce company for home health care products. He is President and Founder of Agecomfort.com. Craftex Property is also another of his businesses.

Image: Busy Bee Tools 40th Anniversary Video

In London, the real estate arm of the company has a five-acre retail plaza that it is building. There will be four to five buildings. Church’s Texas Chicken is going to be an anchor tenant with a drive-thru and Busy Bee is going to be one of the key and largest tenants in that plaza.

“We want to open (new locations) carefully because we’re also scaling e-commerce at the same time. I think we want to be in about 15 stores in the next four to five years,” said Balolia.

“We’re not looking as much into really commercial/industrial type locations. We want more retail presence, more retail traffic. We don’t mind paying a little bit more higher rent . . . In the past the history of the company would always sort of be locations in that industrial type of plaza, lower rents because we were a drive to destination but with the age of the internet drive to destinations are not as common in retail as they used to be.

“What’s happened over COVID a lot of people were at home and they ended up having time to work with their hands and get back into hobbies. This actually affected the younger generation more so than the older. Our customer base was actually dying. Our typical customer was over the age of 50 and what I mean by dying physically they were slowly getting to that age but also they also were fully retired and they had bought out the majority of the machines that they wanted. So what we were missing was that next generation to come and two things happened. The school system in Canada put woodworking classes back into the school system and the age of social media has really helped increase the interest in woodworking specifically. Woodworking has blown up on Instagram and a lot of people are doing things with their hands. That’s going to be a big part of the future.”

Prior to COVID, Busy Bee was offering workshops but they were scaled back because of the pandemic. Today, people are much more prone to watching videos from the comfort of their homes. In the future, Busy Bee will be launching an initiative where customers will get in depth training through their home on machines bought through the retailer.

The company has seen in the last few years a rise in a younger demographic of customer as well as more females.

Victoria-Based Resthouse Launches Crowdfunding Campaign to Expand Retail Footprint [Interview]

By

Mario Toneguzzi

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February 28, 2023

Resthouse, the Victoria-based sleep brand, has launched a crowdfunding campaign through FrontFundr that will essentially help them expand their retail footprint, further develop product lines, and grow their ecommerce presence.

“Over the last 20 years, we’ve witnessed the extreme environmental impacts that the sleep industry has had on the planet,” said Chris Manley, Resthouse co-founder.

“24 million mattresses are thrown away each year due to false narratives around re-purchasing bedding. At Resthouse, we have the knowledge, passion, and products to fundamentally break this cycle and the devastating impact it’s having on the environment while helping to educate consumers about how to have the most restful and restorative sleep.

“Right now there is a tremendous opportunity to reshape the industry and help people sleep better, and we couldn’t be more excited for the launch of our first equity crowdfunding campaign.”

Resthouse launched its first retail store in 2015 in Duncan, B.C., and has nearly $3 million in annual revenues. Today the brand’s home is in a new 3,700 square-foot brick-and-mortar retail showroom in Victoria. The brand is also available online. It maintains a warehouse presence in Duncan as well.

“It’s all about organic bedding. Organic and natural. We really focus a lot on each individual sleeper. I know the industry. I’m a mattress geek. That’s all I’ve ever done,” said Manley.

“But in 2000 a really brutal thing happened which nobody talks about. Mattresses went one-sided. And so when they went one-sided it basically made mattresses disposable and it’s what’s causing the environmental disaster. One of our biggest things that we talk about is let’s get mattresses out of landfills.”

The sleep company has a vision of building flourishing communities by providing people with adaptable and personalized sleep environments while making real and sustainable changes in the sleep industry. Individuals across the country now have the opportunity to become co-owner of the disruptive brand for as little as $500 through the crowdfunding campaign.

Filling the gap in the market for sustainable, high-quality products that respect individuals’ sleeping preferences, body types, and unique needs, Resthouse says it offers an ecosystem of sleep essentials that promote restorative, quality sleep. This includes its own in-house brand of Kakūn mattresses, pillows, comforters, protectors, and toppers, as well as a carefully curated assortment of ethically-sourced sheets, blankets, duvet covers, towels and robes from like-minded brands such as Coyuchi, Obasan, and Holy Lamb Organics.

The FrontFundr campaign will close May 8, 2023.

Resthouse has its own designed and developed in-house brand of Kakūn mattresses, pillows, comforters, protectors, and toppers.

“There’s a lot of passion but my whole life has been sleep,” said Manley.

“We want to expand more heavily into the States. That’s a big part of what we want to do. We just did a whole new website relaunch, changing it to focus on the five sleep essentials. And those five sleep essentials are just really talking about the different parts of our body that are not working in the conventional mattress world. You talk about the pillow, you talk about the alignment, and temperature is huge. Everybody screws up temperature. Most beds are warm because they make you hot and they keep putting ingredients in things like gel memory foam to make them cooler but it’s still just memory foam.”

Those Sleep Essentials include:

Comfort starts with your head and neck;
Correct alignment and shoulder collapse;
Customize your full body support;
Maintain your ideal temperature; and
Top with breathable softness.

“What we want to do with the crowdfunding is grow into the States. We’ll be hiring a proper sales manager for our store because I’m still on the floor. We want to grow the Kakūn brand and we want to expand our retail footprint. We want to have another store in Vancouver in the future. That’s something that’s on the horizon. We haven’t planned it out yet because we’re obviously just doing the FrontFundr, launched the website and moved to Victoria. We’re looking for the investment because we just want to scale. We know we have something that is unique.”

The company says one in three people are sleep deprived.

“Life is stressful and there is a growing awareness of how sleep is central to our mental health and wellbeing. Half of consumers around the world reported a desire for more products and services to meet the need for high-quality slumber,” it says

“For the last 20 years we have been sold cheap, generic sleep products, made of synthetic materials, that don’t respect individual sleeping preferences, body types or unique needs. The result is an environmental disaster, as people throw out their bedding/ products that don’t work and continue to suffer from a lack of sleep. 24.2 million mattresses per year are discarded in North America.

“The vast majority of which will not be recycled. We can do better. Our unique approach to sleep—developed over 20 years of working in the mattress & bedding industry—combined with our sustainable product commitment, ensures our customers are taking care of themselves and our planet.

“We’ve seen all the issues and we’re showing up as Resthouse with our own product line, named Kakun, to fix them. It’s not just the mattress. By considering the whole sleep system, we are able to provide personalized products that accurately target common causes of poor sleep (overheating, misalignment, and improper support).”

Sampling Returns Following Covid-19 Disruptions as Brands Look to Connect with Consumers [Interview]

By

Shelby Hautala

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February 28, 2023

LUSH at Toronto Union (Image: Toronto Union)

As Canadians are coming out of Covid-19, sampling has been on the rise and does not appear to be slowing down as more brands are wanting to increase brand awareness and connect with consumers. Jessica Lemire, the Director of Marketing Activations and Event Sponsorship at Osmington (Toronto Union Station), has noticed the rise in brand sampling and discusses why it is a great marketing tool for businesses.

“I am confident that we will see an increase in sampling in the coming year based on the trends that we are observing at Union specifically and around Toronto. CPG brands and emerging businesses are launching new skus and products every single day, and they are all fighting for visibility and in-store purchases. During Covid, there was a huge decrease in sampling, but now that people are back at work and commuting again, brands want to get out there and target people in unique settings,” says Lemire.

Sampling is the Key

Lemire said if brands are just starting out, sampling is key because it increases visibility, raises awareness, and creates a connection with consumers if done properly. Lemire suggests not only giving out a sample, but also to make an impression by telling the brand story, providing a coupon with the sample, a QR code where consumers can read more online – this way, you are not just handing out a sample, you are also connecting one on one.

“The story behind the brand is really important and sometimes gets lost through social media. Brands may not be able to fully convey their story through other means, or communicate key points on what differentiates them, but sampling can achieve that in a distinctive way.”

While brands are giving out samples, they should also have key talking points such as a quick
“made in Canada”, “locally made in Barrie”, or “this product has organic packaging”. Especially in Toronto’s Union Station, people may not have time to talk for an extended period, so having this key messaging communicated while passing the sample over is important and makes it easy for the consumer to remember later on.

Right Time and Place

At the Union Samples kiosks at Union Station, Lemire says they get a variety of different products such as swag, cookies, drinks, chocolates, and snacks – but says everything can be successful if given at the right time and the right place.

“I think being successful has to do with giving out samples at the right time and the right place at Union. For example, on Monday morning people are starting out fresh so they are looking for healthy alternatives and a little something that will give them a boost, so anything on the healthy side will do well on a Monday morning. But on a Friday afternoon, it may not be the best fit for what visitors are craving.”

Aligning samples to a day is extremely important as it is not just about what samples you are giving out, but how and when. Lemire says on Fridays, it is better to give out samples to lead people into the weekend such as wine tasting, whisky tasting, chips, chocolates – anything people would want when going into ”weekend mode” or that would be top-of-mind. “This also applies to non-CPG brands that are looking to promote their services, like ride-share apps or even restaurants that might want to boost weekend attendance.” Says Lemire.

“Days of Significance can include Earth Day, Mother’s Day, Father’s Day, Valentine’s Day, and even lesser-known days, like National Potato Chip Day”. In addition, it’s important to consider the time of the day, day of the week, and also the season. If a brand is sampling alcohol during dry January – the success rate may not be as high, but if you give the same sample a few months later when people are heading into summer, it will align with people’s mindset and offer a better ROI.

“You can hand out 20 thousand samples in a day in Toronto, and half of them might remember what the product is about, they might even remember some of the key talking points – but if you do it properly, at the right place, right time, with the right messaging behind it, then that’s what takes your campaign from a good campaign to a highly successful one. The positive association that consumers have with a brand that targeted them with a strategic and logical approach will be much higher than someone throwing samples at you for the sake of distributing their stock.

I have been at Union for six and a half years and this is a trend we have noticed, so we try to align samples with certain days and times, while keeping the consumers in mind first-and-foremost and aligning that with a brand’s objectives.”

Taking it Home

Since Covid, Lemire has also noticed a change in sampling techniques compared to her first few years at Union. Instead of samples you must consume right away- such as a single serving of cheese or a small glass of a drink – brands are now giving out packaged samples that you can take on the go.

“Many brands have switched to a packaged sample so people can enjoy on their own time and avoid being rushed to try it right away. If you are handed an open sample, you may not take your time to experience it, but when someone hands me a full can, I can come back and sit at my desk and try it where I can truly enjoy it, experiencing it on my own time while keeping in mind the talking points they gave me earlier. It’s not the case for all samples and brands, but we’ve definitely noticed that full size samples seem to be the trend this year. On the other hand, it can be efficient to hand out an open sample when the goal is to gather feedback, live reactions and describe the ingredients and flavours that product might have as people are trying them.”

Full size packaging, such as chocolate bars or bags of chips, are something Lemire has noticed as an emerging trend. “By giving out the entire product, you can even gain a few impressions by having people share it with others, showcase it to colleagues, or have the packaging make a presence at home. The single impression that you made while distributing the product might end up with a wider reach.”

Currently Canadians, along with other parts of the world, are dealing with inflation. By not rushing consumers to try it on site, it also allows them to try it, think about it, look at the packaging so they can make an informed decision whether to buy the product at the store.

“Inflation is real and people are trying to watch their spending, but we’ve also found that people want to treat themselves, so when you have brands that are sampling something that is a bit of a delight/luxury, you immediately make that positive association between the brand and a moment for yourself. They know their money will be well spent as they have already tried it, they know exactly which one to buy, and they have an existing mindset about the brand and the moment they shared with them”.

Successful Sample Examples

Lush

Lemire said that last month, Lush provided samples at Union for the first time and they were one of the most popular samplings they have had this year so far. They ran out of samples a few hours early and kept getting asked when they would be returning.

As Lush already gives out free samples in store, they wanted to expand this concept to Union to save people time and expands their reach as not everybody has time to go to Lush to get a free sample. Lush provided everyone with a sample which included a face mask, body scrub, and a hand cream, which was aligned with what commuters need during the winter.

LUSH at Toronto Union (Image: Toronto Union)

David’s Tea

“DAVIDsTEA has sampled with us a few times and it truly is a great example of a brand that is sampling at the right place and right time. They have partnered with us during the holiday by giving out an offer, which is great timing as people are looking for gifts, paired with a full cup of tea, which was a welcomed surprise in the cold Toronto weather!”

Lemire said they align their sampling with the seasons; DAVIDsTEA often comes back in the summer months offering iced tea as a refresher! The brand also keeps their ROI in mind by including a 20 percent off online coupon with each sample, driving traffic to their website and measuring how effective each campaign is.

Kinder Surprise

About five years ago to celebrate Kinder’s 50th anniversary they were at Union Station giving out free loot bags worth around thirty dollars and Lemire said they had a 400 person lineup all day.

“It was crazy, everyone had to have one. We had grown adults ditching work and missing their train just to get this loot bag. I think it was so creative because it’s not a product launch, it’s not a new brand, on the contrary its a brand that is well established! But it was so successful. Its a product that is typically marketed towards kids and they were giving samples to adults. I took a train that evening, and everyone had a loot bag. It’s obviously such a great chocolate, but I never thought that people would be lining up for this, but they sure did! I think nostalgia played a big role in the success of that campaign, and we are actually planning a few campaigns based on the success of this one.”

Lemire said this switched the way she thought about samples as a brand should not just give out a sample just for the sake of it, but they should keep in mind what people want and need. There will be lots of exciting new samples, pop-up stores, and new retail stores opening at the Union, but Lemire says to lookout for announcements on their Instagram page @torontounion. They have a lot of events coming up, including their famous Union Summer festival, which will feature 8 food vendors throughout the summer, refreshing drink options, and free programming from June 26^th to August 27^th.

“A key sentence we look out for in events is to hear people say that this is exactly what they needed today. You can walk through Union and if you don’t want to engage, you don’t have to, but if you are in a mood to explore and to discover, then we will have something for you. The station is full of surprises with things constantly popping up: new stores, art exhibits, cultural programming, free activities, festivals, and brands to discover!”

Canadian Retail News From Around The Web For February 28th, 2023

By

Retail Insider

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February 27, 2023

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.

Bed, Bath & Beyond space set to hit the market this week (Western Investor)

Apple Changing Work Policies for Retail Employees in Canada, Says Memo (iPhone Canada)

Shopify builds Indigo a new website in 3 days after ransomware attack (Betakit)

Giant Tiger partners with women’s group to support girls, gender diverse youth (Grocery Business)

Birks Group sadly announces the death of board member Louis Roquet (Market Screener)

Canada’s inflation rate is expected to fall significantly this year. Here’s why (BNN)

H&M Closes McAllister Place Store (Huddle)

Federated Co-op grows sales 38% in 2022 vs YA (Grocery Business)

Nanaimo Walmart re-opens following prolonged closure due to arson (Nanaimo News Now)

Saskatchewan Government Makes 45-Million Dollars From SLGA Auctions (GX94)

Chipotles Can Be Found in Canada, but Not in Quebec (Costar)

Some Councilors Disagree With Weeknight Parking Fees In Halifax (Huddle)

FatFace to Enter Canada with Multiple Stores

By

Craig Patterson

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February 27, 2023

A fashion brand with an unusual name will be entering the Canadian market this year. UK-based FatFace will open an initial three store locations in Ontario, and more are planned as the brand becomes established in the country.

The company has over 200 stores in the UK, Ireland and the United States, and it’s now setting its sights on international expansion which includes Canada. The company was founded by friends Tim Slade and Jules Leaver in 1988. Inspired by the name of the black mountain ski run in Val d’Isère, La Face, FatFace was born.

The Canadian expansion will see FatFace’s first location open in April in the quaint community of Niagara-on-the-Lake near Niagara Falls. The store will be in a historic building at 65 Queen Street, and it’s unusual for such a small community to see a first-to-Canada store location for an international brand.

Other confirmed FatFace stores to open in Canada will include locations at Upper Canada Mall in Newmarket near Toronto, as well as at Georgian Mall in Barrie, Ontario.

Future Niagara-on-the-Lake Location at 65 Queen Street (Image: FatFace Canada)

According to a recent article in the Daily Mail, one of the reasons FatFace is expanding into Canada is because some Canadians were traveling to the United States and buying the brand. FatFace thus identified that there was a brand awareness in Canada and made the decision to open standalone stores. The same article says that a total of six FatFace locations will be opening in Canada over the next year or so, with that information coming from the retailer’s CEO.

Jennifer Bowyer of Aurora Realty Consultants represents FatFace in Canada and negotiated the three lease deals for the brand’s first stores. According to Aurora’s website, FatFace stores will ideally be in the 1,200 to 1,800 square foot range in tourist markets (such as Niagara-on-the-Lake) as well as high streets and shopping centres.

Given the tourism focus, locations could eventually open in places such as Banff, Alberta and Whistler, British Columbia (neither of these were confirmed by FatFace). And given that Barrie and Newmarket are places where FatFace is opening, it’s anyone’s guess where the next stores will be — typically many fashion brands launch in Canada through Toronto’s Yorkdale Shopping Centre and Aurora Realty Consultants has been very active in that centre in terms of placing first-to-market tenants.

FatFace has 24 stores in the United States where it’s also seeing an expansion. France, Germany, Spain and Italy are also possible targets for stores according to chief executive Will Crumbie in the Daily Mail article.

Product categories in FatFace stores include womenswear, menswear, children’s fashions, footwear and accessories.

The new head of Canadian Stores, Raylin Noble, has been with the company since 2004 in the UK. She’s helped to lead the company’s growth in various roles including being instrumental in expanding its operations into Ireland.

In 2020 ownership of the operating group transferred from Bridgepoint Capital to the group’s existing lenders, who, amongst others, include Alcentra, Goldman Sachs, HIG and Lloyds.

We’ll follow up on this story as FatFace enters the Canadian market with stores this spring.

Canadian Optical Retailer BonLook Exits BC and Alberta Markets as it Shuts 11 Stores [Interview]

By

Mario Toneguzzi

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February 27, 2023

Just over a year after being acquired by FYidoctors, Montreal-based brand BonLook has closed a number of its stores, Retail Insider has learned.

BonLook closed the following 11 stores, out of 35, as of February 22:

CF Chinook Centre, Calgary;
CF Fairview Mall, Toronto;
CF Market Mall, Calgary;
CF Masonville Place, London;
CF Pacific Centre, downtown Vancouver;
CF Polo Park, Winnipeg;
CF Richmond Centre, Richmond;
Kingsway Mall, Edmonton;
Guildford Town Centre, Surrey;
Vaughan Mills, Vaughan; and
Centre Eaton de Montreal in downtown Montreal

In a statement, the company said following the closures, BonLook will have 24 stores in Ontario and Quebec and will be available online and in select FYidoctors locations as a shop-in-shop.

“As you know, the pandemic and overall economic environment significantly reduced in-store foot traffic in retail mall locations. We have taken this difficult decision to focus on our core markets where we have a strong brand recognition and plan to continue to grow the BonLook brand,” said Louis-Felix Boulanger, BonLook cofounder and VP IT Strategy and Integration, FYihealth Group.

“The BonLook brand will continue to thrive. We remain focused on serving our customers by directly connecting those affected by this change to an FYidoctors clinic close to their BonLook location to provide future sales and ongoing support for purchases already made. We will also continue offering unparalleled online services for all our current and new customers. The brand will remain available online and through FYidoctors clinics offering an assortment of selected frames and fitting services.

“The company will continue to develop stylish collections that will allow our customers to have prescription frames and lenses at an exceptional value. The company remains committed to building the BonLook brand with the emphasis on both the experience and product focused on the Millennial and Generation Z. To that end, we will: strengthen our execution of the BonLook store-in-store concept at FYidoctors locations with an initial emphasis in the West; ensure to keep our collections fresh, stylish, on-trend; and, support and grow our physical presence in Quebec and Ontario, where our brand has strong momentum.”

BonLook.ca Closing notice for Guildford Town Centre in Surrey.

BONLOOK’S CF FAIRVIEW MALL LOCATION PHOTO: PRISMA CONSTRUCTION

In November 2021, FYidoctors, Canada’s leading diversified healthcare organization, announced it had acquired BonLook, famous for its trendy styles and technology-driven approach to eyewear, boosting the FYidoctors portfolio with new opportunities to expand the brand nationally and beyond.

BonLook, which has been around since 2011, had 36 stores across five provinces.

At the time, Dr. Alan Ulsifer, Chair and CEO of FYidoctors with Calgary as its main head office, said BonLook strengthens the company’s overall portfolio with a brand that stands apart with a modern consumer offering.

George Minakakis, Principal of Inception Retail Group, a former Country Manager and CEO with Luxottica and author of The New Bricks & Mortar Future Proofing Retail, said it hasn’t been quite a year and half since FYidoctors acquired BonLook’s 36 stores and he always thought that BonLook could be a good retail fighter brand against Specsavers’ entry.

“Closing almost a third of them seems like more than just rationalizing a store count. BonLook was likely sold for a premium valuation when it was up for sale. Not being sure of the acquisition price, closing that many stores so early after being acquired can only mean under performance of Bonlook or that these locations are too close to FYidoctors locations and you may be fighting for the same customers. I believe this would still be considered an asset impairment,” he said.

“The eyecare landscape is about to become extremely competitive with the addition of Specsavers securing locations across Canada in many major shopping locations. I am already seeing a number of locations being readied for development. Based on what I had seen in Australia, not a market that dissimilar to that here in Canada, they were able to capture 40 per cent of market share.

“At the end of the day remaining competitive here is about having the right brand with the right leadership and strategies to compete with. The mistake most will make is the belief that they can retain customers and patients. It will not be that easy, especially with this market economy. When you add in Specsavers marketing power, it will be an interesting time in this retail space.”

BonLook at CF Richmond Centre. Photo: Geetanjali Sharma

At the time of the announcement by FYidoctors of its BonLook acquisition, Ulsifer said: “We’re here to support BonLook’s growth and to continue offering unparalleled service to existing and new customers while creating business conditions for even more innovation to offer more quality products and superior services.

“We’re going to keep the brand the same. It is a different kind of customer segment. So their brand is very appealing to the Millennial, Gen Z group of people that want more convenience, they want affordable fashion, they’re not so caught up in runway brands, but they like what a brand stands for. It is a different customer segment that is more attractive to that segment than more traditional optical, or traditional eyecare.”

BonLook, a pioneer in the online sale of branded prescription eyewear was founded by Sophie Boulanger and her brother Louis-Félix Boulanger. It began as an online business and then it started opening stores about seven years ago.

“We saw an immediate upside for our brand and company when we analyzed synergies between our organizations. BonLook’s entry into the FYidoctors family will provide the company and its employees with new strategic opportunities in this high growth market. Becoming a part of the FYi team ushers in a new chapter for us and it brings exciting growth, access to resources, and the opportunity to learn from their award-winning culture,” said Sophie Boulanger when the acquisition was announced.

“The BonLook brand stays alive – alive and stronger than ever. Actually the partnership is meant to give us a bit of jet fuel to actually accelerate our growth. So we’re keeping the banner as it is, we’re keeping the BonLook team in place, we’re keeping the brand, we’re keeping all of our design capabilities and our head office here in Montreal.

“The idea of joining the FYi group is really to join forces and gives us the means to our ambitions to grow and double the footprint of the brand in the next two years.”

BonLook Closure Notices

How Much Are Calgarians Spending On Parking? : New JLL Report Discusses Impact on Retail [Interview]

By

Mario Toneguzzi

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February 27, 2023

JLL has released a comprehensive overview of Downtown Calgary parking, comparing the city to some of the largest cities in North America.

And Calgary comes across as one of the most expensive cities in North America.

Parking in the downtown of any city impacts the business sector – from retail to office.

Here are the key findings of that report:

As a city of 1.4 million people, suburban residents rely on driving or transit to commute downtown. As the most expensive city in Canada for monthly parking and third most expensive in North America (behind New York and San Francisco), Calgarians are forced to pay inflated costs to park in or around their work.

Costs of C-Train fares have increased annually and are now $112 a month or $11.25 for a day pass for an adult passenger. In November, the City proposed increasing fares by three per cent annually until 2026 when a monthly adult pass will cost $126.

Average daily inbound LRT ridership has decreased 36.8 per cent since 2016. Calgarians that require to travel to their work have chosen private vehicles as fear lingers post the COVID-19 pandemic and the worry of safety and security at stations and on the train.

Although costs are more expensive than other Canadian cities, Calgarians are still choosing to pay for parking. The average monthly reserved stall in a tenant building was $525 ending January 2023. The average monthly unreserved stall was $445. Compared to 2020, reserved stalls have increased $21 on average, and unreserved stalls have decreased by $14 on average.

There are 31,592 third-party parking stalls north of 11^th Avenue owned by Calgary Parking Authority, Impark, and Indigo. In 2016, there was an average of 161,613 vehicles entering downtown daily between 6 a.m. and 10 p.m. In 2022, there was an average of 143,204 vehicles entering downtown daily.

The most expensive parking stalls are located close to downtown amenities, such as The CORE shopping centre, the Petroleum Club, and The Westin Hotel.

Calgarians looking to save costs are more likely to purchase parking stalls close to the C-Train Free Fare Zone that runs through downtown or will walk to the Plus 15 to get to their destination.

JLL Calgary Parking Report (February 2023)

In this video interview, Mason Lam, Vice-President, Office Practice Lead and Broker of Record (Alberta) and Ron Odagaki, Senior Sales Associate, Retail, both with JLL, discuss the findings of the report and how it impacts the retail and office sectors in downtown Calgary.

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

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.

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Canadian Retail News From Around The Web For February 27th, 2023

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Retail Insider

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February 26, 2023

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 three days.

Indigo says ransomware attack breached data of current and former employees (Canadian Press)

How Many Ecommerce Stores Are There in Canada? (Reviewlution)

Primaris REIT at one: A year of ‘significant’ accomplishments (Real Estate News EXchange)

Loblaw Fielding 1,000+ Supplier Cost Increase Requests, Expects Inflation to Remain Elevated (Progressive Grocer)

Tim Hortons’ parent RBI to start releasing earnings per restaurant (Postmedia)

Here’s how Canada’s alcohol tax hike will impact Ontario (CTV)

The Best Indoor Plant Stores in Toronto by Neighbourhood (Toronto Guardian)

Cyber Attacks Hit Canadian Retailers Hard, Causing Unprecedented Damage [Expert Interview/Report]

By

Mario Toneguzzi

-

February 26, 2023

Indigo Outage at Bay & Bloor Indigo (Image: Dustin Fuhs)

Retail has emerged as the third most attacked industry in Canada, accounting for 10 per cent of all attacks that IBM X-Force remediated in 2022. It came behind energy and utilities, which constituted 60 per cent of attacks in Canada, followed by finance and insurance at 20 per cent.

As a growing list of Canadian retailers fall victim, IBM says the focus should be on rolling out the right technology to prevent these attacks from happening in the first place.

An IBM X-Force study said extortion was used in more than a quarter of attacks – criminals are swarming vulnerable industrial systems to disrupt critical operations that can’t afford to be down (like utilities, manufacturing, and banking) and making them pay.

The report said data breaches are costing Canadian companies CA$7.05 million per incident on average (an all-time high) – the financial stakes and threat to brand reputation are more significant than ever.

Indigo Outage at Bay & Bloor Indigo (Image: Dustin Fuhs)

Indigo Outage at CF Toronto Eaton Centre (Image: Dustin Fuhs)

Evan O’Regan, Associate Partner in Security Services for IBM, said the findings of the report shed light on the growing threat to the retail and wholesale sector, which is an attractive target for cyber attackers due to its large amounts of sensitive information and financial transactions, its reliance on a complex supply chain network, and the potential for significant reputational damage.

“This is real data based on our X-Force team responding to actual incidents both globally and in Canada,” said O’Regan.

“The threat to the retail industry is very real. A good example of that is if you look at Canada and North America, it’s in the top three targeted, exploited regions and retail which includes wholesale is in the top three of the exploited industries in Canada.

“I think it’s inherent to the nature of the industry. The first thing that I would call out is we need to look beyond the cash register. While it is true, we’ve seen a massive increase of online shopping, that is a trend and it continues to increase but it’s not just about breaking in and stealing credit card information. In fact, the targeting of your credit cards is going down for a couple of reasons. One, they’re better defended both by the banks and the retail industry but also on the black market, on the dark web, you’re only getting about 10 bucks per validated credit card record.

“But when you’re doing these transactions online you need to collect a fair amount of information about the person that you’re doing business with and that is extremely valuable on the dark web. Your exploiters can sell that and as well an organization is compromised. So if I’m a hacker and I’ve been able to land and create backdoor access to your organization I can sell that for $10,000 on the dark web for somebody else to use the work that I’ve done to launch a more sophisticated exploit.

“Why it’s important . . . is first of all you’re doing business with a lot of people. Second, is a reliance on a complex supply chain . . . When you look at the types of threats, extortion is one of the number attacks, and high psychological impact attacks. Some of the major brands can probably recover from a bad headline but if I’m shopping between a retailer that I know or heard has been compromised versus one that hasn’t been in the news, that can have a massive impact on the bottom line.”

O’Regan said the retail sector on the whole has this exposure.

“It’s a lucrative target for the attackers. You have to remember they’re running a business. When we link it to the notion about the threat being real, look at some of the other industries,” said O’Regan. “These are people that would shut down a hospital. These are people that would shut down a utility. Nothing that is out of bounds. We passed that rubicon a long time ago.

“So if they see an opportunity, they’re going to take it.”

IBM Security X-Force said in Canada, credential harvesting took the pole position with 67 per cent of incidents that X-Force remediated (compared to 11 per cent globally). A third of them (33 per cent) resulted in botnet (malware) infections of networks. Overall, X-Force saw threat actors use spearphishing links and exploitation of public-facing applications in equal proportion to gain initial access. Botnets, ransomware, and deployment of recon/scanning tools were the three top actions on objectives observed in incidents in Canada.

Here are IBM Security’s recommendations:

Stop blaming the user. Attackers rely on the fact people are innately curious and inclined to click on links. The report shows that it’s a strategy that works – with 41 per cent of incidents starting from a phishing email. The default industry setting is to blame the user – that needs to change. The focus should be on rolling out the right technology to protect users from falling victim.
Accelerate your response. It’s no longer a question of whether an adversary will get in – it’s a question of when. Successfully responding to a breach is all about speed and limiting the window of access and damage to your environment. How your team responds in the critical moment can make all the difference in the amount of time and money lost in a response.
Employ endpoint or extended detection and response technologies. The rise in backdoor cases points to some success in catching infections earlier. Endpoint and extended detection and response technologies provide the means to identify and mitigate threats before adversaries take more dangerous actions.
Shift your mindset. You have to think like an attacker and understand how they operate. Adversary simulations and threat hunting can help businesses outsmart cybercriminals.
Know your attack surface. One third of attackable assets on organizations networks are unmanaged or unknown, offering easy targets for attackers and risking unintended data exposure. You need to think like an attacker, discover where you’re exposed and the ways an attacker could get in with least detection.
Challenge assumptions. Today, you have to assume compromise. Perform regular offensive testing including threat hunting, penetration testing, and objective-based red teaming to detect or validate opportunistic attack paths into your environment.
Build an adaptable, threat-driven security strategy. There is no single, out-of-the-box solution to protecting businesses today. Attackers are constantly innovating and evolving techniques to evade detection – cyber strategies should be just as flexible. Buy the tools, build the plan, but then test it, learn from what you find, and adapt regularly to consider the rapidly evolving threat landscape.

O’Regan said it’s important for companies to get their house in order and start looking for some of these known exploits inside of their organization, inside of their operations.

“The retail industry needs to have something of a security strategy and a threat driven plan that reflects the threat that they are facing because there’s no single out of box solution. The attacker is going to constantly innovate so it’s something that becomes a living, breathing document that gets revisited. It’s a practice. It’s the notion of building the plan, making sure you have the right tools to support it, learn from what you find and adapt regularly because it’s a rapidly evolving threat landscape so you’re response to that has got to be rapidly evolving,” he said.

Urban Barn Launches Home Collection in Partnership with Canadian Designer [Interview]

By

Mario Toneguzzi

-

February 26, 2023

Aly Velji x Urban Barn at Calgary-Crowfoot (Image: Urban Barn)

Calgary-based designer Aly Velji has launched an exclusive collection with Canadian furniture and home decor retailer Urban Barn.

The collection was launched online in January and was launched in all stores starting on February 17.

“Partnering with an incredible Canadian company with such strong roots like Urban Barn was a dream come true,” said Velji, Principal of Aly Velji Designs. “The vision for this collection was to create an approachable, thoughtful and curated collection of pieces that not only embodied my personal aesthetic but also my love of travel.”

The design company is celebrating 15 years being in business, specializing in both commercial and residential interiors. It has projects across Canada and the world.

“We have made it a priority to partner with creative and thoughtful Canadian designers and it’s been such a pleasure partnering with Aly on the Wanderlust collection, bringing a new perspective to Urban Barn’s designs,” said Urban Barn’s Creative Director, Sébastien Fauteux.

Aly Velji x Urban Barn at South Granville (Image: Urban Barn)

Velji said the company has been using Urban Barn to source furniture for projects during his 15 years in the design world.

“About three and a half years ago, I got introduced to the marketing team while at a chair design show in Vancouver . . . and then started the conversation with them. Initially it was supposed to be like a textile collection and then they approached and said ‘actually we think we want to do a full furniture collection’,” he said. “Obviously I was over the moon about that.”

Featuring furniture and décor inspired by faraway places, this collection incorporates unexpected details that bring a sense of adventure to everyday spaces. With a mix of design styles, patterns and textures, the Wanderlust collection features 17 pieces ranging from accent chairs and console tables to rugs and toss pillows.

Encompassing a variety of transitional pieces, the Wanderlust collection is welcoming and versatile, allowing consumers to style pieces into existing interiors to make it their own. The collection speaks to a new way of design, influenced by different parts of the world and a new renaissance of mixing traditional and modern pieces. To view the Wanderlust collection, access the Aly Velji lookbook.

Aly Velji x Urban Barn at IDS 2023 (Image: Urban Barn)

Urban Barn at Queen & Spadina (Image: Dustin Fuhs)

Urban Barn curates furniture and accents, balancing a range of designs from urban contemporary to modern rustic. The Vancouver-based company opened its first location in 1990 and now operates 55+ home décor shops across the country.

Velji is known as a master of mixing design styles, patterns, and textures, he loves to add a hint of the unexpected to each of his projects—ensuring that each design is personalized, goes beyond the current trends, and stands the test of time. Serving both residential and commercial clients, he is also a familiar face in the Canadian television and media community and has received numerous awards for his designs, most recently a nomination for Designer of the Year and Home of the Year from Western Living Magazine.

“For me, when we started having these talks with Urban Barn, first of all it was very important to me that my collaboration was with a Canadian company. I love to bring Canadian companies, Canadian talent and the designs that I do together. I also wanted to make my collection approachable. I think that good design should be for everyone and I think what happens sometimes is when designers do collaborations with larger companies the price points are not really attainable,” said Velji.

“When speaking with Urban Barn, I knew that I definitely wanted to make a collection that was relatable, approachable and not only carried sort of my aesthetic of interior design but made it so that it was achievable for the everyday customer. I think that’s a large portion of what Urban Barn is all about – to sell to the everyday person. That to me was really important in making it approachable, really well designed but also at a price point that anybody could afford.”

Over the past couple of years, Canadian consumers have spent more time in their homes because of the pandemic due to lockdowns and their own personal safety concerns. That has been a boon for retailers that have anything to do with homes, particularly in the area of furniture and decor.

“Even as a design firm, we’ve never been busier. The pandemic really forced people to spend a lot of time in their spaces and realizing that they’re maybe not utilizing the spaces as much as they could,” said Velji. “That kind of spurred this whole movement in people spending time at home.

“I feel that Urban Barn their whole motto right now is ‘right at home’ and I think that’s really important because I feel that more people are wanting their spaces now to feel more comfortable, more inviting, cozy. That’s definitely saying that the everyday consumer is also now a little bit more savvy when it comes to design as well with Instagram and Pinterest and social media outlets that are out there. People know what good design is and how to make their spaces look well put together.”

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