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We’ve received word that American retailers Saks Fifth Avenue and Bloomingdale’s have been inquiring into obtaining Canadian retail space. For example, both stores recently expressed interest in the proposed third anchor store space in a substantially expanded Oakridge Shopping Centre in Vancouver. These retailers have also made enquiries with other Canadian mall landlords.
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Bloomingdale’s inquiries into selected Canadian retail space began not long after its negotiations with Hudson’s Bay fell through. Hudson’s Bay had wanted to bring Bloomingdale’s concessions into Canada and had even earmarked its Yonge and Bloor Hudson’s Bay store to be converted into Canada’s flagship Bloomingdale’s store. After talks stalled, Bloomingdale’s began examining the possibility of an independent Canadian entry. Even more speculation surrounding the situation is that parent company Macy’s could look to enter the Canadian market. This could be done possibly by buying out selected mall stores from a retailer such as Sears Canada, not unlike what Cadillac Fairview did to escort Nordstrom’s Canadian entrance.
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| Hudson’s Bay store in Toronto that was considered for conversion to a Bloomingdale’s [Image Source] |
Our in-house retail analyst doubts we’ll see either Saks or Bloomingdale’s come to Canada any time soon. Meanwhile, we’ll keep an ear to the ground and report on any new developments since we’ve been told both retailers are still showing interest in Canada.
Looooove the way you guys report! You sound like you're dishing exclusive Celebrity news which you know, we LOVE!
I agree with you though. Holt Renfrew already has that demographic covered here in Canada!
xoxo
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