[
]
*****UPDATE:
to our analysis of this story*****
Reportedly,
Saks Fifth Avenue will build its Canadian flagship
store at 44 Bloor Street West in Toronto, replacing a 342,000 square foot
store. The store could cost as much as $100 million to build. It will apparently be the second-largest Saks Fifth Avenue store in the world, following its massive Manhattan flagship.
We speculate that the new Toronto Saks Fifth Avenue store will be roughly 300,000 square feet, making it the third-largest luxury department store retailer in North America (following Saks Fifth Avenue’s 646,000 square foot Manhattan flagship and
‘s 316,000 square foot Manhattan store). Time will tell if Toronto’s Saks will be even larger than Bergdorf’s.
On Friday and over the weekend, we’ll be researching and analysing Saks Fifth Avenue’s Canadian retail strategy, in light of new information received. On Monday, we’ll publish a more lengthy analysis of Toronto’s new Saks Fifth Avenue and how it will affect neighbouring retail in its immediate area
(UPDATE:
)
. We’ll also discuss the future of Saks Fifth Avenue stores in Canada, as
CEO Richard Baker says
Canadian Saks Fifth Avenue stores, including several suburban locations.
We hope everyone stays safe this Black Friday, and we’ll be back Monday with articles about Saks Fifth Avenue’s plans for Canada.
RELATED:
- Possible Saks Fifth Avenue Locations(s) for Toronto
- Saks Fifth Avenue’s Canadian Stores Will Mostly be Within Existing HBC Store Space
- Possible Saks Fifth Avenue Locations in Canada
- Saks Fifth Avenue’s Discount ‘Off 5th’ to Open up to 25 Canadian Locations
- Saks Fifth Avenue to open in Canada. HBC Purchase Finalized
[
Source: Globe & Mail Report on Business
]
So much for Bloomingdale's opening there! Where could they open in Toronto? They could grab the Sears at Yorkdale and Square One, and Simons can open at Sherway Gardens and Fairview Mall. But what about Toronto proper? Are there other spaces on Bloor Street that can accommodate Bloomie's? Any new developments proposed? Or is Eaton Center the way to go?
Goodness, that place needs MAJOR WORK!
Bloomie's isn't coming to Canada anymore. At least not right now, anyway.