Over a third of foreign retailers enter Canada through one mall

Date:

Share post:

Last year, over a third of all first locations for retailers entering Canada were at Toronto’s Yorkdale Shopping Centre. 2013 wasn’t an unusual year for Yorkdale, however. From the inexpensive to luxurious, Yorkdale has been Canada’s entry point for many foreign retailers for a number of years. Its latest mall expansion, anchored by a 188,000 square foot Nordstrom store, will see even more first-to-market retailers between now and 2016. It’s no wonder that the mall is forecasted to become North America’s top-selling mall by 2018. 

In 2012, the mall saw several first-to-Canada retailers open in its south-western expansion, including Kate Spade, LOFT (by Ann Taylor), Microsoft Store, Ted Baker and Tesla Motors. In 2013, Yorkdale held the openings of Canada’s first AllSaints, David Yurman, John Varvatos, Mulberry, White House | Black Market, Tumi, and Zara Home stores.  2014 is proving to be another stellar year for the mall, with a particular focus on luxury. So far, Yorkdale has announced Canada’s first Jimmy Choo, Versace (free-standing), Moncler, Bulgari and Vince Camuto stores. We’re told that more are on the way, possibly including a Uniqlo store that was recently mentioned in the Financial Post

Several other first-to-Canada retailers for Yorkdale include Canada’s first Apple Store (2005), GEOX (2005), Bath & Body Works (2008) and Crate & Barrel (2008)

The mall’s exceptional leasing team, under the management of Oxford Properties, aggressively targets foreign retailers. It also targets foreign tourists, being Canada’s first mall to accept the China UnionPay card. Last year the mall’s annual sales surpassed $1 billion, with sales forecasts of $2 billion by 2018. We expect this to become North America’s top-selling mall, considering current top-selling South Coast Plaza reaches about $1.5 billion annually, with no foreseeable expansion plans. 

Yorkdale’s new 298,000 square foot Nordstrom wing won’t be the mall’s final expansion, however. Another mall expansion is planned after Sears is demolished, housing multiple retailers and as many as two new department stores. Construction won’t likely begin until the Nordstrom wing opens in 2016, and we’ll update you with further details when permitted. 

Source: CBRE report: How Global is the Business of Retail


 

5 COMMENTS

  1. My 2 cents.
    This mall has some issues.
    Access – Drive the site to exeperience the access issues. It is difficult to get in and out of this property on a weekday forget the weekend.
    Parking – Management has recently informed many mall employees that they are to take public transportation or risk having their vehicles ticketed for $100. The more GFA on this site the more parking required – there is no land to expand onto so the only alternative is parkcades which are extremely expensive.
    Fashion Tenants – There are many tenants in this mall that are at risk. Suzy Shier, SmartSet, Le Chateau, Bikini Village, Fairweather, Johnston Murphy, Laura, and a few more mid market fashion retailers are all at serious risk of becoming obsolete (some of these companies are publicly traded so the info is already out there). To compound this, rental rates in this mall will continue to increase as will the CAM/Tax/Promo etc. Sales are flat for many of the tenants listed. On top of all this, we are now talking about department stores coming in to take more of the pie.

    Not all negative though, as the wealthy elite shoppers with tons of cash will continue to support the higher end shops.

    • "At risk" mid market fashion retailers are likely not an issue for Yorkdale… with a waiting list for retailers to get in, Yorkdale will maintain 100% occupancy, and store turnover means the next tenant will lease for more than the previous one.

      Yorkdale is definitely a moneyed mall, with often scarce parking.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More From Retail Insider

KIT + ACE Launches Store Expansion in Canada Under New Ownership [Interview]

The Vancouver-based retailer will open two locations this fall in Toronto and Calgary, with plans for a substantial expansion into 2024 says CEO David Lui.

Casual Steakhouse Chain MR MIKES Expanding Further in Canada [Interview]

With plans for continued expansion into Western Canada and Ontario, the restaurant chain is evolving its concept and targeting smaller markets to establish itself as a hub for local communities.

Canadian Retail Sales: A Slight Recovery Amidst Economic Challenges [J.C. Williams Group Analysis]

The analysis explores the noteworthy trends in the health and wellness sector, the resilience of certain retail categories, and the impending holiday season's strategic considerations for retailers.

Bloor Street Retail Transformation: Luxury Brands, Renovations, and New Openings in Toronto [Podcast]

Craig and Lee take a deep dive into the dynamic changes occurring on Toronto's Bloor Street West, noting the street's resurgence as a thriving hub for luxury shopping in the city.

Ricardo’s Kandy Korner to Open Flagship Candy Store at CF Toronto Eaton Centre in Toronto [Interview]

Entrepreneur Ricardo Rizaie says he’s planning to take his experiential candy retail concept across Canada after opening a third Canadian storefront in downtown Toronto.

PizzaForno Expands Into Toronto’s Public Transit System, Sets Sights on Airport Locations for Automated 3-Minute Pizzas [Interview]

This innovative move marks PizzaForno's entry into the public transit sector, and demonstrates its commitment to becoming the fastest-growing pizza chain in North America by 2024.

Calgary’s Retail Space Crunch Drives Surge in Rental Rates and Demand [Report]

A variety of complicated factors are at play as Calgary retail space sees demand given market growth, while new supply is limited due to factors such as construction costs.

Lush Cosmetics Sets Ambitious Expansion Plans for Canada Including New Spa Locations, Services, and Entertainment Partnerships [Interview]

The UK-based retailer is innovating with its Canadian operations with enhanced customer experiences and unique treatments, while launching a new app to facilitate bookings and provide more information about products and services.

Canadian Consumers Adjust to Higher Cost of Living [Survey/Video Interview]

An Angus Reid survey asked Canadians how they're navigating elevated inflation, a higher cost of living and a potential recession.

Canadian Shoppers Embrace Generative AI for Shopping Suggestions: Report

The groundbreaking Salesforce report focuses on the growing importance of AI-driven personalization in the retail sector.

Inside the New KITH Store on Yorkville Avenue in Toronto [Photos]

The stunning storefront took months to build, features Kith Treats and a restaurant concept from New York City, and could be a game changer for the Bloor-Yorkville area. 

Canadians Gear Up for Early Holiday Shopping Amid Economic Uncertainty [Feature Report]

As concerns about inflation and supply chain challenges persist, shoppers are on the lookout for deals and exploring alternative places to find gifts while controlling overall spending, says a report by Field Agent.

Walmart Canada Announces $50 Million Investment in Associate Career Development [Interview]

Walmart Canada's education program will support career-driven learning for associates, benefitting both employees and the retailer according to AnnMarie Mercer.

Eliminating Plastics Should not Jeopardize Food Security In Canada [Op-Ed]

Sylvain Charlebois says that concerns are being raised about potential increases to food losses and food prices, while at the same time Canada's unique logistical and trade realities are being overlooked.

Neo Coffee Bar Announces Major Expansion Plans, Including New Downtown Toronto Locations and a Foray into Japanese Cocktails [Interview]

The brand plans to continue growing more rapidly over the next several years in high traffic GTA locations.

Ren’s Pets Expands Toronto Footprint with Three New Stores, Launches Extensive Halloween Collection [Interview]

Pet owners are increasingly seeking costumes, accessories, and treats for their furry companions, with the trend of matching outfits growing during the pandemic.

Browns Shoes to Return to Toronto’s Bloor Street with New Storefront

The Canadian footwear retailer had a presence in the area for decades until recently, and now it returns in a space that is steps from Holt Renfrew.

IKEA Unveils State-of-the-Art 1 Million Square-Foot Distribution Centre in Quebec [Interview]

The new facility aims to enhance IKEA's omnichannel capabilities, serving as a hub for store distribution and direct e-commerce order fulfillment, incorporating automation and environmentally friendly features, with a LEED Silver certification.

Atelier Munro Expands with 2nd Canadian Made-to-Measure Menswear Store in Calgary’s Beltline Neighbourhood [Interview]

The Amsterdam-based menswear brand, known for its made-to-measure clothing, is expanding across Canada with new locations in major markets.

Esprit to Open 1st Canadian Flagship in Vancouver in December, Eyes Toronto for 2024 [CEO Interview]

The brand, which exited Canada over a decade ago, is returning under new leadership with large-format stores and a new strategy.

RECENT RETAIL INSIDER VIDEOS

Advertisment

Subscribe to the Newsletter

Subscribe

* indicates required

RECENT articles

KIT + ACE Launches Store Expansion in Canada Under New Ownership [Interview]

The Vancouver-based retailer will open two locations this fall in Toronto and Calgary, with plans for a substantial expansion into 2024 says CEO David Lui.

Casual Steakhouse Chain MR MIKES Expanding Further in Canada [Interview]

With plans for continued expansion into Western Canada and Ontario, the restaurant chain is evolving its concept and targeting smaller markets to establish itself as a hub for local communities.

Canadian Retail Sales: A Slight Recovery Amidst Economic Challenges [J.C. Williams Group Analysis]

The analysis explores the noteworthy trends in the health and wellness sector, the resilience of certain retail categories, and the impending holiday season's strategic considerations for retailers.

Bloor Street Retail Transformation: Luxury Brands, Renovations, and New Openings in Toronto [Podcast]

Craig and Lee take a deep dive into the dynamic changes occurring on Toronto's Bloor Street West, noting the street's resurgence as a thriving hub for luxury shopping in the city.

Ricardo’s Kandy Korner to Open Flagship Candy Store at CF Toronto Eaton Centre in Toronto [Interview]

Entrepreneur Ricardo Rizaie says he’s planning to take his experiential candy retail concept across Canada after opening a third Canadian storefront in downtown Toronto.

PizzaForno Expands Into Toronto’s Public Transit System, Sets Sights on Airport Locations for Automated 3-Minute Pizzas [Interview]

This innovative move marks PizzaForno's entry into the public transit sector, and demonstrates its commitment to becoming the fastest-growing pizza chain in North America by 2024.

Calgary’s Retail Space Crunch Drives Surge in Rental Rates and Demand [Report]

A variety of complicated factors are at play as Calgary retail space sees demand given market growth, while new supply is limited due to factors such as construction costs.

Lush Cosmetics Sets Ambitious Expansion Plans for Canada Including New Spa Locations, Services, and Entertainment Partnerships [Interview]

The UK-based retailer is innovating with its Canadian operations with enhanced customer experiences and unique treatments, while launching a new app to facilitate bookings and provide more information about products and services.

Canadian Consumers Adjust to Higher Cost of Living [Survey/Video Interview]

An Angus Reid survey asked Canadians how they're navigating elevated inflation, a higher cost of living and a potential recession.

Canadian Shoppers Embrace Generative AI for Shopping Suggestions: Report

The groundbreaking Salesforce report focuses on the growing importance of AI-driven personalization in the retail sector.

Inside the New KITH Store on Yorkville Avenue in Toronto [Photos]

The stunning storefront took months to build, features Kith Treats and a restaurant concept from New York City, and could be a game changer for the Bloor-Yorkville area. 

Canadians Gear Up for Early Holiday Shopping Amid Economic Uncertainty [Feature Report]

As concerns about inflation and supply chain challenges persist, shoppers are on the lookout for deals and exploring alternative places to find gifts while controlling overall spending, says a report by Field Agent.

Walmart Canada Announces $50 Million Investment in Associate Career Development [Interview]

Walmart Canada's education program will support career-driven learning for associates, benefitting both employees and the retailer according to AnnMarie Mercer.

Eliminating Plastics Should not Jeopardize Food Security In Canada [Op-Ed]

Sylvain Charlebois says that concerns are being raised about potential increases to food losses and food prices, while at the same time Canada's unique logistical and trade realities are being overlooked.

Neo Coffee Bar Announces Major Expansion Plans, Including New Downtown Toronto Locations and a Foray into Japanese Cocktails [Interview]

The brand plans to continue growing more rapidly over the next several years in high traffic GTA locations.

Ren’s Pets Expands Toronto Footprint with Three New Stores, Launches Extensive Halloween Collection [Interview]

Pet owners are increasingly seeking costumes, accessories, and treats for their furry companions, with the trend of matching outfits growing during the pandemic.

Browns Shoes to Return to Toronto’s Bloor Street with New Storefront

The Canadian footwear retailer had a presence in the area for decades until recently, and now it returns in a space that is steps from Holt Renfrew.

IKEA Unveils State-of-the-Art 1 Million Square-Foot Distribution Centre in Quebec [Interview]

The new facility aims to enhance IKEA's omnichannel capabilities, serving as a hub for store distribution and direct e-commerce order fulfillment, incorporating automation and environmentally friendly features, with a LEED Silver certification.

Atelier Munro Expands with 2nd Canadian Made-to-Measure Menswear Store in Calgary’s Beltline Neighbourhood [Interview]

The Amsterdam-based menswear brand, known for its made-to-measure clothing, is expanding across Canada with new locations in major markets.

Esprit to Open 1st Canadian Flagship in Vancouver in December, Eyes Toronto for 2024 [CEO Interview]

The brand, which exited Canada over a decade ago, is returning under new leadership with large-format stores and a new strategy.