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Versace will open a free-standing store at Toronto’s Yorkdale Shopping Centre, according to the City of Toronto Development Applications website. Versace will occupy space #160 in the mall’s ‘luxury hallway’ beside Salvatore Ferragamo and neighbouring luxury retailers Tiffany & Co., Burberry, Cartier, David Yurman, Mulberry and others.
According to Yorkdale’s lease plan, space 160 is about 2,500 square feet. We’re not sure if Versace will expand into the adjacent 3,873 square foot space formerly occupied by a Holt Renfrew ‘pop-up shop’.
This will be Canada’s second Versace store location, though it will technically be Canada’s only free-standing Versace store. Vancouver has a licensed Versace boutique located within Luxury retailer Leone at the Sinclair Centre. This Vancouver Versace location opened along with Leone in 1987.
Since the 1990’s, Toronto has seen several franchised Versace store locations. Versace locations on Hazelton Avenue, at the Hazelton Lanes shopping centre and on Bloor Street have opened and closed over the years. Rumour has it Versace is currently looking for Yorkville store space as well, though we can’t confirm a location.
Thank you to source ACT7 of Urban Toronto.
Cole Haan store on Bloor St will be relocated to Yorkdale Mall and Cole Haan’ due to poor sales and it’s current location will be replaced by Bottega Veneta by 2016!
Club Monaco’ Bloor store lease wasn’t extended by both sides and it should expire by 2020.
LVMH is in talks with building owners where Club Monaco’ Bloor St store located which is also partly owned by UofT and City of Toronto. The owners of the building asking $29.000.000 USD not CDN and Ralph Lauren Group which owns Club Monaco is asking $ 3.000.000 USD for earlier dislocation from its current location.
Intermix store will be moving out of Bloor St due to worst performance and unprofitableness by 2017 or even earlier. After it was purchased by GAP Group US it’s management team was replaced so the international expansion views were changed. Also it makes more profit online then in stores and due to high taxes, duties and delivery fees it’s international orders been declining since 2013 Canadian consumers were main international buyers according to its former CEO.
P.S. LVMH’ De Beers and Christian Louboutin are eyeing Intermixes Bloor St location.
Nordstrom has purchased Uniqlo’ rights for Canadian Market unfortunately Weston Group had to pass on Uniqlo due to buy out of SDM and Joe Fresh’s international expansion plans.
Tim, could you please email Craig at: craig@retail-insider.com? I’d very much like to speak to you further about the above: these are very amazing tips!
Thank you,
Craig Patterson
Hello again Tim,
Please feel free to comment on any our articles whenever you like. ESPECIALLY if you post anything like your comments to this article. The above tips were absolutely amazing. Thank you!!! – Craig