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American candle and gift retailer Yankee Candle Company continues to expand its Canadian store network by opening new locations. Last year we revealed that the Massachusetts-based company plans to open over 50 Canadian locations, and has confirmed plans for several new locations within the next year.
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Founded in 1969, Yankee Candle is America’s largest manufacturer and retailer of scented candles. It also retails candleholders, accessories, and dinnerware in its over 575 stores. Its products are sold in thousands of gift shops in the United States as well as through catalogs and online. It has stores in all 50 American states, with most locations measuring under 1,000 square feet. In 2013, its revenues were in excess of US $844 million.
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According to Developers & Chains, Yankee Candle will add a further three to five Canadian stores in 2015, adding to its eight current Canadian stores. It recently opened stores at Bramalea City Centre in suburban Toronto, as well as at White Oaks Mall in London, Ontario. Currently, all Canadian stores are located in suburban malls in Southern Ontario. The retailer continues to search for Canadian locations in larger regional fashion malls, ideally in the 900 square foot range. Its store location search is being handled by broker Catherine Conte, Vice President and Real Estate Representative at Toronto-based brokerage Marino Locations Limited.
To reach its goal of 50 or more Canadian locations, Yankee Candle will no doubt be aggressively seeking more retail space coast-to-coast.
Today’s Retail News From Around The Web: September 11, 2014
