West Edmonton Mall will invest over $100million to continue renovations, including more new marble flooring and new crystal chandeliers. Renovations commenced in early 2011 including some improvements to common areas, flooring and ceilings. These latest renovations will ‘finish the mall’ with more seating areas while it courts new, upscale tenants.
The mall is courting retailers like Burberry, Tory Burch, Microsoft Store, Ted Baker, Free People, Kate Spade, and (rumour has it) Tiffany & Co., among others. Upscale retailers are sought partially due to an increase in shoppers from the affluent ‘oil-North’ regions like Ft. McMurray, where a (mostly male) population of affluent shoppers may holiday at the mall which includes hotel rooms, a casino, waterpark, amusement park and other attractions.
According to the Globe & Mail, The mall now spends almost 10% of its marketing budget targeting shoppers in Ft. McMurray, 50% more than just three years ago. Ft. McMurray shoppers make up about 15% of mall shoppers, while about 50% of all West Edmonton mall shoppers are tourists. Alberta also has no sales tax, making it a destination for some big-ticket purchasers.
We previously reported on the opening of La Maison Simons in West Edmonton Mall, the first Simons location outside of Quebec. We have been told Simons’ Edmonton store is doing ‘gangbusters’ sales.
West Edmonton Mall is a privately-owned complex owned by the Ghermezian family. Private ownership means it is sometimes secretive with its future plans and tenancy. We did some homework and found that the mall is still keen on securing Edmonton’s first Nordstrom store, as we previously reported, not to mention numerous other upscale tenants like those we mentioned above.
We’ll keep you updated on developments at North America’s largest shopping centre.
(Some information for this article was obtained from this article in the Globe & Mail)
West Edmonton Mall website: http://www.wem.ca
While it is great to hear that WEM is trying to shed their suburban image and strive for a more upscale range of stores and appearance (which they have been successful with in the last year). What we really need to start seeing is an expanding and developing retail scene downtown. With the new arena in the works and 4 new residential towers being constructed as of right now and another few in the works, I hope that in the near future we start seeing more retailers looking in the core, rather than out at WEM. Edmonton's downtown is undergoing a rapid change, which includes millions of dollars in developments and, more importantly, a renewed interest in the core as a destination to live, work, shop, eat and play for Edmontonian's and visitors.
We agree, DM. Downtown Edmonton has a LOT of potential. This author used to live in Edmonton and in the 90's, Downtown Edmonton had quite a bit of decent shopping and three full-sized department stores (Eaton's, The Bay and Woodward's). Downtown Edmonton's retail is a shadow of its former self and it would be wonderful if that would change.
One thing that I don't like about all these newer high-end stores and big chain stores is the fact that they are pushing out many of the more unique stores that used to be all over the mall. It used to be a one stop shop place where you can pick up everything you want or need. Now it looks like it is nothing more than just big chain clothing stores and that's pretty much it. No variety in types of goods just all clothing.