Holt Renfrew, Canada’s luxury specialty retailer, has announced further updates in its ongoing plans to enhance and expand its network of stores in Canada.
“We are focused on Holt Renfrew’s unique position as Canada’s specialty luxury retailer,” said Holt Renfrew President Mark Derbyshire. “As part of our dynamic growth strategy, we are announcing further updates in our plans to expand our flagship store network.”
In establishing its growth plans, Holt Renfrew undertook a comprehensive strategic analysis of the Canadian marketplace and prospects for its luxury business model, and is confident in its positioning and potential for targeted growth. The company is committed to offering shoppers an enhanced Holt Renfrew experience with exclusive product, exceptional services, and a rich assortment of the leading brands they have come to know and love at Holts. Store expansion will result in a 40% increase in square footage, from approximately 800,000 to over 1.2 million square feet, strategically focused on flagship markets in Western Canada.
According to Holt Renfrew, the Vancouver and Calgary flagship stores will see exciting new experiences, including updates to the personal shopping areas to include the luxury Apartment private shopping concept. Innovative café experiences will also be added and footwear and leather goods will be significantly expanded.
In keeping with its specialty luxury positioning and enhanced store model, Holt Renfrew is strategically focusing its store expansion plans on key flagship markets in Vancouver, Calgary, Edmonton, Toronto, and Montreal. As a result, the difficult decision was made to close its smaller 35,000 square foot regional stores in Ottawa and Quebec City.
The stores will close at the end of January, 2015. The Ottawa store has 72 employees; the Quebec City store has 85. Holt Renfrew currently has over 2,600 employees, and expects overall levels of employment to grow through 2017 to support national expansion plans.
