(Content courtesy of CBRE Canada).
The past five years haven’t been easy for Canadian retailers in their home country. From changing consumer spending habits to shifting demographics and tariff threats more recently, retailers have faced their share of challenges.
But CBRE Vice President Kate Camenzuli, who specializes in multi-market retail expansions, says it’s not all doom and gloom.
“There’s some fear around the unpredictability of the retail market, domestically and internationally,” she acknowledges. “But Canadians are a force to be reckoned with. We continue to see some incredible success stories of Canadian retailers and their growth domestically as well as globally.”
Global Rollouts
Camenzuli is assisting a number of Canadian retailers with global rollouts. She is working with KOTN, a sustainable clothing company based in Toronto that has expanded to the U.S. and made the jump across the pond into the UK. “KOTN has a strong brand ethos, an incredible and diverse offering and is fully integrated across its supply chain, production and distribution,” she says. “They understand how to take smart and calculated risks, where to push and pull, and when to do that in order to succeed.”
Camenzuli is also partnering with Executive Vice President Cassie Durand, who is based out of CBRE NYC and specializes in U.S. expansions, on several multi-market accounts. They joined forces to help Toronto jeweller Mejuri expand, with Camenzuli assisting with the Canadian growth strategy and Durand managing transactions globally. They also have a partnership with Sukoshi, a Toronto-based Asian beauty brand, with Durand assisting with U.S. growth and Camenzuli managing global transactions.
The duo recently secured a prime retail space for Vancouver based luggage company MONOS in Manhattan’s SoHo neighbourhood; the store is set to open this summer.
“We were competing against other global brands but MONOS’ phenomenal business model and vision won out,” says Camenzuli. “This is a huge win and shows that Canadian retailers have what it takes to outpace their global peers and get the best real estate with the right partners.”
Success Models
The global rollouts of KOTN, Mejuri, Sukoshi Mart and MONOS are models for success in challenging times. Camenzuli says these companies are taking a back-to-basics approach with a strong focus on understanding their data. “They know their business better than anyone. Costs may rise but retailers who understand their customers, know their margins and lean into what makes them great will adapt to market conditions.”
Partnering with the right advisors like Camenzuli and Durand can also help to ensure successful expansions into new markets. KOTN, Mejuri, Sukoshi and MONOS are working with experts who understand the local markets they’re entering and can secure the best real estate—and navigate tariffs.
“It’s normal to have fear in challenging times but in retail, increasing your store count can be a key factor to growth,” says Camenzuli. “You just have to find the right people to grow with.”
With many companies frozen by uncertainty and tariff fears, Camenzuli believes now is a good time for retailers to make a move. She encourages retail leaders to take calculated risks and stay nimble, as hard times can generate new opportunities.
“It’s time for retailers to be bold,” she says. “Global consumers want to support good brands, no matter where they’re from. So if you’re a Canadian retailer with an innovative idea, pursue it.
“Because if not now, then when?”
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