Sources tell us that French luxury group Louis Vuitton Moët Hennessy (LVMH) is looking to buy Canadian real estate to open stores. The company is looking to own retail space as rents continue to skyrocket on some of the world’s most expensive luxury retail streets.
LVMH is apparently in talks to purchase a large substantial space on Toronto’s Bloor Street West to house a large Christian Dior store, as well as possibly other LVMH brands. The company already leases space in Canada, including Louis Vuitton and De Beers. Construction starts soon on its Christian Dior store in Downtown Vancouver. Buying retail space may also be the first step for LVMH to open Canadian branches of brands that it owns including Bulgari, Givenchy, Céline, Fendi and others.
We’ll keep this article brief while we continue researching this topic. Check back for updates on this potentially exciting development in Canadian luxury retailing.
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Super exciting. I wonder if they’d consider department stores.
LVMH already owns Le Bon Marché in Paris, as well as some large duty free shopping gallerias. Department stores could be an interesting move, though we’re not aware of any possible department store purchases by LVMH here in Canada.
The old Tiffany’s store on Bloor? It’s been sitting empty since the store moved.
Dior has definitely looked at this space, but to lease it. As far as we’re aware, 85 Bloor Street West isn’t for sale.
I hope they buy space to open a stand-alone Thomas Pink shop, rather than yet another store full of handbags.
We agree. Thomas Pink is currently available via concessions at Holt Renfrew. Free-standing Thomas Pink stores could follow, as it is doing quite well at Holt’s.
The Holt Renfrew concessions are better than nothing, but not great.