Square One Shopping Centre in Mississauga is seeing a significant round of leasing activity, with Tiffany & Co. preparing a standalone boutique, Rolex expanding into a substantially larger location, and several international and large-format retailers opening or under construction at the two-million-square-foot property.
The activity extends well beyond luxury. LEGO, Flying Tiger Copenhagen, POP MART and a new SUPER MINISO concept are among the retailers with stores under construction, while Winners recently opened a two-level location and Urban Behavior has taken over the first level of the former Hudson’s Bay department store.
The changes are reshaping several parts of one of Canada’s largest shopping centres. Square One, owned by Oxford Properties and Alberta Investment Management Corporation (AIMCo), has approximately 330 stores and services and attracts about 22 million visits annually.
Tiffany Moving Out of Holt Renfrew
One of the most notable changes is taking place in Square One’s established luxury area, where Tiffany & Co. is preparing a standalone boutique in space formerly occupied by Ferragamo.
Tiffany currently operates a boutique concession inside Holt Renfrew at Square One, where it has been located since the multi-brand store opened in 2016. The new location will bring Tiffany directly into the mall as a standalone storefront after roughly a decade within Holt Renfrew.
Ferragamo was among the luxury brands that opened at Square One in 2016 as the shopping centre expanded its higher-end offering. That same year, Holt Renfrew opened its 130,000-square-foot Square One store and Tiffany entered the Mississauga market within it.
Tiffany’s move comes as the jewellery house has reduced its boutique presence within Holt Renfrew elsewhere in Canada. The brand no longer operates its former Holt Renfrew locations in Calgary and Montreal, where Tiffany continues to have standalone boutiques. A Vancouver Tiffany boutique at Holt Renfrew continues to operate.
Rolex Preparing Larger Square One Boutique
Rolex is also expanding at Square One. Raffi Jewellers, which operates the existing Rolex boutique at the shopping centre, is preparing a substantially larger location incorporating adjacent space.
The expansion builds on Raffi’s longstanding presence at Square One and comes as the jeweller is also involved in a larger Rolex presence planned for Yorkdale Shopping Centre in Toronto. Raffi operates Rolex at both properties, giving the jeweller a significant presence at two of the GTA’s highest-profile shopping centres.
The Square One project connects with the property’s previous luxury expansion. In 2016, the shopping centre opened a roughly 75,000-square-foot luxury wing, excluding Holt Renfrew, with Rolex by Raffi Jewellers among the tenants. The original Rolex boutique, which opened later that year, spanned more than 1,700 square feet.
A decade later, Tiffany’s move and the Rolex expansion are updating that same luxury cluster, with established brands taking different or larger spaces within the property.
Former Hudson’s Bay Space Gets New Retail Use
Significant changes are also taking place in larger-format space. Urban Behavior has opened a large store occupying the first level of the former Hudson’s Bay department store, putting a substantial portion of the former anchor back into retail use.
Hudson’s Bay closed its Square One store in June 2025 during the retailer’s liquidation, creating one of the largest vacancies at the property. Urban Behavior’s move is part of a wider reshuffling: Winners recently opened a two-level Square One store in premises previously occupied by Urban Behavior, while Urban Behavior moved into the much larger former Bay space.
The sequence provides an early example of how portions of the former department-store footprint can be reused without another traditional department store taking the entire space. It also shows how existing mall tenants can move into different formats and footprints as landlords work through large vacancies created by the collapse of Hudson’s Bay.
SUPER MINISO, POP MART and LEGO Add to Collectibles Mix
Another group of incoming retailers is concentrated around toys, collectibles, licensed intellectual property and discovery-oriented shopping.
MINISO is preparing to open a SUPER MINISO at Square One on October 10. SUPER MINISO is a distinct format within the retailer’s broader store network, with greater emphasis on licensed IP, collectibles and fan-oriented merchandise alongside MINISO’s general lifestyle assortment.
Square One has already hosted temporary MINISO activations tied to properties including Star Wars and One Piece. The permanent SUPER MINISO gives the retailer a larger platform for the IP-driven merchandise that has become increasingly important to its store strategy.
POP MART is also under construction at Square One. The Chinese collectibles retailer already has a Robo Shop presence at the shopping centre, while construction hoarding indicates a new physical retail space is being prepared. Details of the forthcoming format have not yet been publicly confirmed.
LEGO is another confirmed addition, with Square One listing a LEGO Store as coming soon. Its arrival adds another global retailer focused on toys and collecting, with a physical-store format that encourages customers to browse.
The concentration of SUPER MINISO, POP MART and LEGO is notable as retailers and landlords put more emphasis on merchandise driven by fandom, collecting and licensed characters. These categories can give consumers reasons to make repeat visits as products and collaborations change.
Flying Tiger Copenhagen Part of Canadian Expansion
Flying Tiger Copenhagen is also under construction at Square One as part of the Danish retailer’s entry into Canada.
The company identified Square One as one of its first five GTA locations when it announced its Canadian expansion earlier this year. The initial rollout also includes CF Toronto Eaton Centre, Vaughan Mills, Scarborough Town Centre and CF Markville.
Flying Tiger sells a frequently changing assortment spanning home goods, toys, stationery, party products, food and other categories. Square One therefore joins several of the GTA’s largest shopping centres in the retailer’s initial Canadian rollout.
Construction hoarding is also visible for Health Cart Canada and Candy Prom & Evening, while Peoples Jewellers has construction underway at the property.
Luxury and Mass Market Under One Roof
Square One’s ability to accommodate these different concepts is tied to the breadth of its existing tenant mix. Holt Renfrew serves the luxury end of the property, while Walmart is a major mass-market anchor, with La Maison Simons, The Rec Room, Indigo and numerous international fashion and specialty retailers elsewhere in the centre.
The current leasing activity spans luxury investment from Tiffany and Rolex, off-price retail through Winners, large-format fashion with Urban Behavior, and internationally expanding specialty concepts. That breadth has long distinguished Square One from Canadian shopping centres positioned more narrowly around luxury or mainstream retail.
Square One encompasses approximately two million square feet and serves a large trade area extending beyond Mississauga. Oxford says the property receives roughly 22 million annual visits and contains approximately 330 stores and services.
Other recent openings have added to the leasing activity. DAVIDsTEA opened a new flagship at Square One in August, while Shake Shack is among the international brands to have recently established a presence at the shopping centre.
The retail changes are taking place as Oxford and AIMCo pursue longer-term development of the lands surrounding the shopping centre.
Square One anchors the planned Square One District, a mixed-use development envisioned across approximately 130 acres in downtown Mississauga. Long-term plans contemplate more than 18,000 residential units along with a transit hub, office space, community buildings, parks and green space surrounding the existing shopping centre.
