Video Interview: Fashionably Old-Fashioned Butter And Ice Cream Crafted In Western Canada
Bill McKenzie, CEO, Foothills Creamery, discusses the company’s growing reach throughout Western Canada with its ice cream and butter products.
McKenzie talks about the history of the company, how it has grown over the years, future plans, the impact of the pandemic on business and his personal background in the craft beer industry and how it relates to his current role.
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 National Business Journalist with Retail Insider and owner of Mario Toneguzzi Communications Inc. and can be reached at mdtoneguzzi@gmail.com.
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.
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.
Movers inside GUCCI's pop-up location at Thurlow and Alberni on June 29, 2022. Photo: Retail Insider.
Retail Insider has noted Italian luxury brand Gucci is packing up its 710 Thurlow Street location in downtown Vancouver. The location in Vancouver’s prestigious “Alberni Luxury Zone” was reported in September 2021 as being a temporary location while renovations were underway at its new space at Hotel Vancouver.
Movers inside GUCCI’s pop-up location at Thurlow and Alberni on June 29, 2022. Photo: Retail Insider.Movers in front of GUCCI’s pop-up location at Thurlow and Alberni on June 29, 2022. Photo: Retail Insider.
Within the July 2021 report, Retail Insider also elaborated on the luxury brand expanding by annexing an adjacent space occupied by an Omega luxury watch boutique. The watch brand temporarily relocated to the basement in the hotel until reopening in December 2021 in its new space across the hallway from the new Gucci retail space on the main floor.
The former 3,900 square foot Gucci store, which opened in the Hotel Vancouver in 2006, annexed the 2,300 square foot Omega store next to it to create a flagship-sized 6,200 square foot location to house Gucci’s entire collection of ready-to-wear for women and men as well as bags, accessories, footwear, jewellery and other categories.
GUCCI inventory being brought back to Hotel Vancouver from the GUCCI Pop-Up on June 29, 2022. Photo: Retail Insider.
The expanded Hotel Vancouver store will feature Gucci’s most updated store concept that was recently rolled out with new Gucci stores at West Edmonton Mall in Edmonton and a renovated Bloor Street flagship store in Toronto. Interiors will be plush with velvet, marble and wood. The store will also add men’s ready-to-wear for the first time.
We will continue to monitor for details pertaining to the grand opening of Gucci’s newly expanded Hotel Vancouver boutique.
The past two-and-a-half years or so have proven to be an incredibly challenging time for many operating within the retail industry. Social restrictions, combined with public concern over health and safety, severely limited the efforts of merchants to drive traffic to their storefronts and provide a physical experience for their customers. However, as we slowly and methodically continue to enter what is being considered by many as the “post-pandemic” period – a time when communities everywhere approach closer to life as it was once enjoyed – there is renewed optimism within the industry as foot traffic returns to brick-and-mortar establishments. And, according to Annik Desmarteau, Vice President, Québec, for Ivanhoe Cambridge, it couldn’t be happening at a better time for many retailers and brands across the country.
“There’s no doubt that the pandemic forced a shift in consumer behaviour and preferences when it comes to the channels they leverage to shop and make purchases,” she says. “It prompted an accelerated digitization of the world around us and an increase in online activity and sales. But, for quite some time now, we’ve been experiencing a significant increase in foot traffic to stores, which is ultimately critical to the service they provide, the experience they offer and their ability to provide the type of physical engagement that helps drive loyalty among consumers. Driving physical traffic is even more critical for retailers operating in downtown urban locations, many of whom are dependent upon it for survival. After such a long period of uncertainty and challenge, it’s encouraging to see people returning to shopping centres and stores, providing a real boost for retailers and brands heading into the second half of the year.”
Repositioning Galerie PVM
The return of footfall to Main Streets and downtown cores across the country is also encouraging to Desmarteau and her team who manages multiple properties, including Galerie PVM in Montreal. Built more than 60 years ago in the heart of the city – bordered by Cathcart Street, René Lévesque Boulevard, Robert-Bourrassa Street and Mansfield Street – the Galerie is an impressive office and shopping complex comprised of four buildings and an underground plaza. Serving as the official headquarters for Royal Bank of Canada, Place Ville Marie is already widely recognized as one of Montreal’s most prominent urban gathering hubs. And, in order to enhance its status and bolster the experience it offers its visitors, it’s currently undergoing an ambitious transformation that Desmarteau describes as an “exciting next step” toward the future of Galerie PVM and the retailers and brands involved.
“Galerie PVM is such a unique destination,” she asserts. “It’s right in the heart of the city. There are more than 12,000 people working within the office buildings. And, because we’re at the centre of business within the city, most people working within Montreal have to pass through the Galerie on their way to their offices. During the pandemic things were obviously a little different. We took the time to accelerate our plans to reposition Place Ville Marie and are really proud and excited to see the city has come back to life with foot traffic and activity now returning to near-normal levels.”
Upgrading an iconic destination
Galerie PVM (Image: Alex Parent)
The “repositioning” that Desmarteau refers to involved significant enhancements and upgrades made to the retail gallery. Surrounding a modern food hall concept, Galerie PVM has been designed to bring lifestyle, culture and cuisine together under one roof, offering its visitors an experience like no other. And, helping to support the execution of the Galerie’s retail component, Ivanhoe Cambridge has partnered with Aurora Realty Consultants. It’s a project that Jeff Berkowitz, Founder of the realty firm, says is a really appealing one to work on, adding that he and his team are proud to be able to help facilitate the evolution of one of Montreal’s most central and frequented sites.
“Place Ville Marie is iconic and was already very well-known throughout Montreal as a destination that is unique from most others prior to its redevelopment,” he asserts. “However, the enhancements that have been made really bring attention to the amazing retail and food offering that’s available within the gallery. The pandemic sort of halted almost everything within the industry for a while. And it’s taken some time to start to build momentum back up again. But as consumers begin returning to their favourite stores and shopping destinations, we’re making enhancements to the Galerie PVM offering, approaching the project with a two-pronged strategy. We need to make sure that we offer the goods and services that are needed by the tenants above. And, we also want to provide the retailers and brands that Montrealers will be most interested in as well as those that will provide an attraction for tourists to the city. It’s such an iconic destination right in the heart of Montreal. And so, the retail and food offering has got to complement that fact.”
Elevated retail offering
Berkowitz goes on to explain that because Galerie PVM does not offer the same size of shopping space that some other centres might be afforded, he and his team have got to get things right from a leasing perspective every time. They hope to build on an already impressive roster of retailers and brands on offer at Galerie PVM, which includes Browns Shoes, L’Occitane en Provence, ECCO Shoes, Moneysworth & Best Quality Shoe Care and more. And, to help support Aurora’s efforts, Desmarteau insists that there are further upgrades and improvements being made to Place Ville Marie – upgrades and improvements that she says are meant to ensure a constant flow of traffic to the area, providing maximum exposure for the retailers and brands in the gallery.
“The city is currently working on the entirety of McGill University Avenue, which runs from the gates of McGill University all the way to the parking and pedestrian entrance to the Place Ville Marie retail gallery, in order to introduce the city’s light rail transportation as well as to make it more pedestrian-friendly,” she says. “This is going to result in a beautiful, Parisian-type thoroughfare that will lead visitors right to the door of Galerie PVM, instigating a major shift in the feel surrounding the building. In addition, we have a lot of great plans to activate the esplanade above the gallery inside and outside of business hours over the coming months, bringing people to the area throughout the day and week, creating a community-type of atmosphere.”
Increasing foot traffic
They are additional embellishments that Berkowitz says will go a long way toward supporting the continued success of the retailers and brands with locations within the gallery, boosting the reputation of Place Ville Marie even further. And, best of all, according to Berkowitz, is the fact that the ongoing improvements which continue to create an even more welcoming and inspiring space for visitors only result in enhanced opportunities for prospective tenants. And that, he says, makes the development of he and his team’s proposition that much easier and straightforward.
“There is usually so much traffic that flows through Place Ville Marie on any given day that the value for any retailer or brand to be involved in the space speaks for itself,” he asserts. “However, the opportunities seem to be even bigger because of the tie-ins with activities, shows and performances that will be taking place upstairs. We’re in conversations with current tenants to find out how we can work collaboratively in efforts to look forward with respect to the vision of their particular business and services. And, we’re also bringing in new categories and players in order to further invigorate this amazing gallery of retailers and brands and carve out Galerie PVM’s appropriate place within the eclectic and diverse Montreal shopping ecosystem.”
Maintaining high standards
With respect to the work that’s been put into the repositioning of Galerie PVM, it’s easy to see why there’s so much excitement around the project. Berkowitz says that it’s one that is keeping his team on their toes, innovating to maintain the high standards that have been set through the years at Place Ville Marie. And, according to Desmarteau, they are standards that are helping to drive every decision that’s made with respect to the experience that’s offered by the extraordinary business and commercial complex.
“We’ve approached this project with the idea of making the shopping environment at Galerie PVM even more vibrant than it already was. By doing so, we’re delivering a first-class experience to our visitors that is unlike any other that they’ll find anywhere else in the city. Every decision that we’ve made so far has been thoughtfully arrived at, keeping the customer – the Galerie PVM visitor – at the centre of our focus. We’re really proud of the results of our efforts so far and are really looking forward to continuing our work to advance Place Ville Marie’s reputation as a world-class destination for everyone to enjoy.”
Video Interview: CF Chinook Centre Welcomes Back The Full Calgary Stampede Breakfast Experience
Paige O’Neill, General Manager, CF Chinook Centre, discusses the return of the annual Stampede Breakfast to Calgary’s most popular mall.
O’Neill talks about what the breakfast means to the shopping centre and the city, what is going to be there, its history, what it was like the past couple of years, and what’s new at Chinook.
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 National Business Journalist with Retail Insider and owner of Mario Toneguzzi Communications Inc. and can be reached at mdtoneguzzi@gmail.com.
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.
The LCBO has opened a 6,944 square foot storefront in the new Bay Street Promenade section of Toronto’s Union Station.
Servicing over 75,000 community members and 300,000 daily visitors, the location has 4,840 square feet of display space and features 144 linear feet of refrigerated space. Union Station LCBO also features over 1000 wines, spirits, beers, ready-to-drink cocktails and coolers.
The store offers Same-Day Pickup service: orders placed on lcbo.com will be ready for pickup at the store’s express counter within two hours (if in stock).
LCBO at Union Station (Image: LCBO)
LCBO at Union Station (Image: LCBO)
Joining Sephora, which opened last week, the LCBO is the latest brand to open in the promenade at Union Station. Over the next few months, the retail component of Canada’s busiest commuter hub will see a number of new stores and restaurants open, including Decathlon, TD Bank, The Queenston and % Arabica.
Union Station is seeing a massive multi-year overhaul which includes repositioning and redevelopment of the retail component of Canada’s busiest transit hub, which will expand to about 170,000 square feet of space when complete.
American retailer Bed Bath & Beyond has hit a rocky road in its retail recovery following the COVID-19 pandemic.
The company announced first quarter sales have plunged by 25 per cent compared with a year ago to $1.5 billion with a net loss of $358 million and it has made some management changes with Sue Gove being named as Interim Chief Executive Officer, replacing Mark Tritton who leaves his role as President and CEO and as a member of the Board.
Sue Gove
Also, news reports in the US have indicated the brand has reduced some store hours and reduced air conditioning in some stores to cut down on costs.
“I step into this role keenly aware of the macro-economic environment. In the quarter there was an acute shift in customer sentiment and, since then, pressures have materially escalated. This includes steep inflation and fluctuations in purchasing patterns, leading to significant dislocation in our sales and inventory that we will be working to actively resolve,” said Gove in a statement.
“The simple reality though is that our first quarter’s results are not up to our expectations, nor are they reflective of the Company’s true potential. The initiatives we are instituting today are just the first steps in putting our business on firm footing to drive our future success. I look forward to working with the Board, the management team, and our Associates to immediately address our supply chain challenges, market share recapture, inventory and cash optimization, and cost structure alignment.
Bed Bath & Beyond now offering same-day delivery. Photo: Bed Bath & Beyond
“We must deliver improved results. Our shareholders, Associates, customers, and partners all expect more. We are committed to providing customers with a one-stop destination to meet their needs through our assortment, experience, and services, whether online or in stores. Top-tier execution, careful management of costs, greater supply chain reliability, prudent capital spending, a stronger balance sheet, and robust digital capabilities will all be important to our success. I’m eager to start working more closely with our leaders and our Associates across all banners to make the necessary strategy adjustments and create a brighter future for Bed Bath & Beyond Inc.”
“The CEO came in 2019 and ousted a number of executives. Granted that’s normal. Sales did increase after a dozen quarters of sales declines.
That was a low easy bar to recover from at least short-term. I have seen this pattern before. However, I also saw many of the press releases and that propped up the stock price. Apparently, they made a lot of new hires and fixed merchandising. Okay the basics were covered. Clearly that was not enough,” he said.
“It had me wondering where was “the new brand story” that they were going to inspire consumers with? Traffic clearly did not grow. They did not deliver a value proposition that defines them from all the other shopping options and channels where consumers can buy the same goods. For me that was the biggest failure adding in they did not have control of their supply chains as they had highlighted issues in some of their past quarterly calls.
“What’s next? There will be no Best Buy like recovery story here. Best Buy didn’t wait for their world to collapse; they entered the e-commerce world with the intent to keep their physical world relevant. And became a marketplace. I believe Bed Bath & Beyond missed that opportunity.
Certainly the pandemic, supply chains and the current economy weigh heavily. However, management and the board failed to address these strategic challenges effectively. The new interim CEO is a board director and that may demotivate existing management with no one being appointed from within.”
Bed Bath & Beyond in Mississauga (Image: Google)
Liza Amlani
Liza Amlani, Principal and Founder, Retail Strategy Group, said that the brand was on this path pre-pandemic with internal transformations to discover their core customer.
“BBB has always had a challenge with understanding their customer and developing a merchandise assortment strategy that can speak to right product at the right time. We saw this the last few years when they wanted to shift into more private brand development.”
“Their fire sale and drastic measures that were reported on today tells us they never did try to fix their merchandising strategy. It comes down to mismanagement and an inventory management problem. A brand cannot get closer to market their customer if they are not bringing the right strategists to change the way they go to market. If product doesn’t resonate with customers, they will always be in fire sale mode.”
“Once dominant in specific categories for soft home, the retailer out assorted department stores and discounters during the 90’s and perhaps the 2000’s. But the world changed and more of this business was moving to e-commerce while discounters like Target improved their offering significantly with exclusive brands and better value. Bed Bath & Beyond invested in e-commerce but was slow to obtain the payback needed to make the financials work,” said Winder.
“Sales started to soften, and activist investors circled the retailer forcing changes within management. A new CEO from Target gave hope to stakeholders, but the brand was already in a death spiral. As the pandemic comes to an end and consumers buy less home products in favour of travel and experiences, Bed Bath & Beyond’s troubles have found them again perhaps for the last time.
“I don’t see them making it long term as folks like Amazon, Target, Walmart, and Costco will get even stronger in this category as the world flirts with a recession.”
Image: Bed Bath & Beyond
Doug Stephens
Doug Stephens, Founder of Retail Prophet, said Bed Bath & Beyond has succumbed to something affecting huge swaths of specialty merchants today.
“That is that their bedrock value proposition – depth of assortment – is no longer unique or exclusive. Not that long ago, having an entire store dedicated to one or two categories was a unique competitive position relative to, at the time, department stores and general merchants. The internet and third-party marketplaces have obliterated that advantage – perhaps even turning it into a vulnerability,” he said.
“Now, even specialty merchants have to bring much more and differentiated value to the equation and Bed, Bath & Beyond has seemingly failed to discover what that new value is or could be.”
Michael Kehoe
Michael Kehoe, a commercial real estate broker with Fairfield Commercial Real estate in Calgary and a spokesperson for Consumer Real Estate Canada, said the sudden departure of Bed Bath & Beyond CEO Mark Tritton follows recent shakeups in the executive ranks at several other major retailers.
“Retailing is a ‘Darwinian Struggle’ and this is an example where the drive for market share, sales increases and profitability are commanding an immediate leadership change in the top ranks driven by an activist investor / shareholder in these times of disruption and difficult macroeconomic conditions. The new CEO will be tasked with enhancing the in-store and online merchandise assortment and the customer experience among other immediate challenges such as supply chain reliability,” he said.
In a news release, Harriet Edelman, Independent Chair of the Bed Bath & Beyond Inc. Board of Directors, explained the leadership change at the retailer: “After thorough consideration, the Board determined that it was time for a change in leadership. Our banner’s heritage is built on the premise that when customers are shopping for the home, Bed Bath & Beyond is the perfect destination for unique solutions and inspiration. We must deliver that proposition for customers, drive growth, and unlock the value of the banners. Today’s actions address company performance, the macroeconomic conditions under which we are operating, and the expectations of the Board on behalf of shareholders. We are committed to addressing the urgent issues that have been impacting sales, profitability, and cash flow generation. We are confident Sue brings the right combination of industry experience and knowledge of Bed Bath & Beyond’s operations to lead the Company, focus our resources, and revise strategy, as appropriate.”
Fukuoka-founded Japanese cheesecake quick service dessert brand Uncle Tetsu has shuttered its original Toronto storefront, and has relocated across the street to a new retail space at The Atrium complex on Bay Street.
The new 3,216 square foot location at The Atrium is similar to the former location, offering take-out exclusive items including its famous spongy cheese cake. The production kitchen in the new location is viewable on three-sides, including the street and inside The Atrium ground level.
This retail space where Uncle Tetsu is now located at The Atrium was the former home of a MUJI pop-up and most recently MUJI wholesale, a furniture and discount section of the 18,389 SF MUJI flagship that’s located on the Dundas side of the Triovest-owned property.
Former Uncle Tetsu at 598 Bay Street (Image: Dustin Fuhs)
Previously located at 598 Bay Street, next door to the former Greyhound Bus Terminal and steps from the Bay & Dundas intersection, Uncle Tetsu made its debut in the Canadian market with a takeout-style storefront. It then expanded to take over the storefront next door and gradually started to test out various concepts in the downtown core.
In 2016, the brand opened the Uncle Tetsu Angel Cafe at 191 Dundas Street West, which had a street-level pick-up window and a second-floor cafe. This restaurant had a maid theme, with stage shows and a full menu including desserts and drinks. On August 1st, 2018, the brand announced on Facebook that it was closing the location for “renovations and rebranding” with plans to reopen with a “new concept after a few months.” The location has yet to reopen.
The Uncle Tetsu brand has opened several small-format locations, growing to 15 locations in Ontario, BC and Quebec, including opening at Yorkdale Mall (in the Restoration Hardware wing) in Toronto, Vaughan Mills near Toronto and Metrotown in Vancouver.
Retail Insider has reached out to the brand for comment on the new location and will circle back.
100 Queens Quay East at Sugar Wharf (Image: Dustin Fuhs)
Empire-owned, Ontario-based grocery retailer Farm Boy has secured a 30,000 square foot location at Sugar Wharf, an 11.5 acre mixed-use community development in Toronto’s East Bayfront that is currently under development.
This new store will be just 1.1 kilometres from an existing Farm Boy location at Queens Quay Terminal, located at York Street at Queens Quay.
The retail development at Sugar Wharf includes a 25,000 SF LCBO store, which Retail Insider covered in early 2022. Sugar Wharf will also include an unannounced “World Class Gym”, which has leased 42,000 SF. and is expected to open in Q4 2022.
Sugar Wharf recently announced several exciting office tenants including the 115,000 square foot Canada Goose head office that will join the 250,000 square foot office space for LCBO, Richardson Wealth’s recent 90,000 square foot office lease, and the Toronto Region Board of Trade’s 65,000 square foot leased space. The office development is currently sitting at 92% leased.
100 Queens Quay East at Sugar Wharf (Image: Dustin Fuhs)100 Queens Quay East at Sugar Wharf (Image: Dustin Fuhs)
Farm Boy has been rapidly opening stores with eight stores opening in 2021 alone. The most recent location opened in Barrie on March 31st – bringing the total store count in the chain to 44.
The brand will be opening a location in midtown Toronto at 81 St. Clair Avenue East in Fall 2022.
Empire purchased the Ottawa-based grocer in 2018 and has since made news by acquiring Longo’s and the e-commerce business Grocery Gateway. Nova Scotia-based Empire also owns banners including Sobeys, Foodland, FreshCo, IGA, Safeway, Voilà and others.
Cadillac Fairview, the owner of some of the premier shopping centres across the country, has launched new nationwide programming, including vibrant fashion pop-ups, live entertainment and culinary experiences, encouraging Canadians to rediscover the feeling of summer that brings communities together.
“We’re thrilled to engage Canadians with new, meaningful and inspiring experiences that will bring communities together this season as we all look to reconnect with friends, colleagues and hang out with family,” said Andrea Nickel, Senior Director of Experience and Engagement, Cadillac Fairview. “This will be the first summer in two years that many of us will feel a true sense of optimism. We take special pride in being a source of community connection, reinforcing ourselves as the exciting go-to destination for fashion, food, art and entertainment for guests of all ages.
“We’re seeing more and more optimism and visits from customers. As part of our purpose around transforming communities for a vibrant tomorrow, we’re just really excited and happy to bring these inspiring experiences to our customers to really enjoy at our properties.
“Ultimately we’re trying to reinforce Cadillac Fairview as that best place to shop, with incredible retailers and great entertainment. As much as we can connect our communities with these exciting, enjoyable experiences, support our retailer recovery, and really inspire that sort of shop by showcasing some of the trends of the season, showcasing our retailers, and create some amazing and innovative spaces and experiences to drive our communities and our customers back into our centres and give them something to be excited and optimistic about this summer, then we’re really winning. We’re just excited to continue to bring innovative, both physical and digital experiences to our communities and to help our retailers continue to recover this summer.”
CF Fairview (Artist: Franco Egalité)
The initiative’s intent is to create the “Meet you there” destination for summer fun.
Select CF properties will host an interactive Shop the Look digital-physical activation in partnership with stylist Peter Papapetrou, one of the most influential voices in Canadian fashion, to inspire shoppers to find their “look” from the latest fashion trends for both summer and fall available at CF retailers.
At CF Toronto Eaton Centre and CF Sherway Gardens in Toronto, CF Pacific Centre in Vancouver, CF Rideau in Ottawa and CF Promenades St-Bruno in Quebec, people will have an opportunity to interact with the digital display touch-screens in the Shop the Look installation where consumers can curate the perfect look at their fingertips, said Cadillac Fairview.
It said Papapetrou has also created an all-new online CF “lookbook” featuring summer and fall style and trend available online to all Canadians to “Shop the Look” at https://shops.cadillacfairview.com/shop-the-look.
CF will host a summer patio with The Lot at CF Sherway Gardens, which is opening on June 30th.
CF Masonville (Artist: Hawlii Pichette)
CF said it is also partnering with artists across Canada to create immersive art installations as part of its commitment to transform communities for a vibrant tomorrow. Displayed throughout the summer months, artists will create colourful designs that project joy and wellness, and incorporate mirrors highlighting words of positivity. Each artwork is designed to spark feel-good moments while encouraging the viewer to reflect on the beauty of life.
The participating CF locations and local artists include:
CF is also launching a unique and exciting search for digital content creators to help capture fun content for its Instagram and TikTok channels to showcase the latest fashion at our retailers, exciting events at our properties and so much more. Details will be announced soon.
And later this summer, CF Richmond Centre in Vancouver will offer a specially curated Back-to-School nostalgic pop-up shop, showcasing the hottest, must-have fashion trends for fall and back-to-school with a 90’s flare. Located on the first floor, the one of a kind space will be open from August 8 to September 24.
Nickel said Cadillac Fairview has always wanted to be part of the community where its shopping centres are located.
“We believe that part of encouraging and being part of that community, in a special place, is bringing people to have entertainment and the best retailers to shop at but encouraging them to come to shop, to eat, to enjoy an experience, so we’re really being part of the community,” she said. “And we really sort of become part of their day to day in terms of where they might go to bring their family or meet up with friends or reconnect with people who they haven’t seen for awhile.
CF Richmond Centre (Artist: Nicole Larsen)
“We’ve all had it so tough across Canada and it’s been a challenging two years but we’re really seeing a lot of optimism as we’re going into the summer and we do believe that people are excited about reconnecting with friends and family, being part of the community again. We are seeing that optimism. We are seeing rebounding traffic levels and people excited to come out and experience, excited to shop again. We’re definitely starting to see that with our centres.”
Cadillac Fairview is owned by the Ontario Teachers’ Pension Plan and manages in excess of $35 billion of assets across the Americas and the United Kingdom, with further expansion planned into Europe and Asia.
The company’s Canadian portfolio comprises 68 properties, including the Toronto-Dominion Centre, CF Toronto Eaton Centre, Tour Deloitte, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre.
