This is the first of a series where Retail Insider interviews Canadian retail leaders to discuss what's happening and what's to come at an unprecedented time.
The US footwear behemoth ‘DSW Designer Shoe Warehouse’ says that it turned a first-quarter profit for the first time since entering Canada five years ago, as it launches a new loyalty program to further grow its operations and gain market share.
Other News: Richemont Opens Montblanc and Vacheron Constantin in Vancouver, Rudsak Opens Concept Store, Dior Opens 1st Canadian Fragrance Boutique, First Ballet School to Open in a Canadian Mall, Amazon Announces Significant Retail Successes in Canada.
The US-based company has announced a shift in strategy that includes a new name, rewards programs, website, and plans to open more stores in Canada in strategic locations. We spoke to the president of the Canadian division about the closure of Town Shoes as well.
The shocking announcement will result in the closure of the iconic Canadian footwear chain, and will be an issue for some landlords already dealing with excessive mall vacancies.
Included will be the footwear retailer's first 2 Vancouver-area stores. When they all open, DSW will be half way towards its goal of operating up to 50 Canadian stores.
We spoke with its Canadian CEO, who revealed that the retailer is having an easier time negotiating for new store real estate now that Target has exited Canada.
Discount footwear retailer DSW Designer Shoe Warehouse (DSW) has completed its share purchase of Canadian footwear retailer, Town Shoes, for $75.5 million (US$68.7 million) in cash. DSW acquired a 49.2% interest in Town Shoes, paving the way for DSW to open Canadian stores. DSW's initial stake provides 50% voting control and board representation, equal to Town Shoes' primary remaining shareholder, Callisto Capital...
Discount footwear retailer DSW Designer Shoe Warehouse (DSW) has purchased 44% of Canadian footwear retailer Town Shoes, paving the way for DSW to enter Canada. Town Shoes had originally planned to open similar stores in Canada, though these plans have since changed. DSW has wanted to open in Canada for some time, and it will now have the necessary means to make it possible through its partnership with Town Shoes...