Bloor-Yorkville Scene

[Tewder]

I imagine that Aura and 1 Bloor will have an enormous impact on spreading Bloor Street luxe shopping down Yonge.

As for the lack of high end retail in Toronto I think it's largely to do with chains of supply, the border, high taxes and duties and so on, combined with the fact that there is limited room for growth and expansion. In the US chains can expand like weeds, and even the high end ones, because it's so much cheaper.

 

[ACT7]

One other point to note is that the politics involved with setting up shop in Canada are maybe a bit more complicated. What I mean is that stores like Harry Rosen and Holts often have exclusive rights for x number of years to sell certain brands and they will be damned if they will let that particular designer set up a boutique essentially right next door. I think this plays a huge role in the lack of stand-alone boutiques. I wonder if the same restrictions apply in other countries to the same extent.

 

[pw20]

While you're right that the rich are the same regardless of Canada or the US.. there are "less" wealthy people in Toronto per capita. Look at what the average doctor makes in the US versus Canada. Lawyer salaries in Boston versus Toronto...

There is just "less" wealth in Canada. (now this doesn't take into account our health care, lower educational costs etc...). But salaries are notoriously lower in Canada vs. the US. There subsequently is just a lot less disposable income to spend at high-end retail.

 

[ACT7]

While you're right that the rich are the same regardless of Canada or the US.. there are "less" wealthy people in Toronto per capita. Look at what the average doctor makes in the US versus Canada. Lawyer salaries in Boston versus Toronto...

There is just "less" wealth in Canada. (now this doesn't take into account our health care, lower educational costs etc...). But salaries are notoriously lower in Canada vs. the US. There subsequently is just a lot less disposable income to spend at high-end retail.

All true, but my point is that if you're making $300K as a doctor in Canada or $2 MM in the U.S. you can afford to shop at these stores.

On another note, Apple is now looking at 1 Bloor West (Stollery's) as a potential flagship.

Article: http://www.macrumors.com/2012/02/28/flagship-apple-retail-store-coming-to-torontos-bloor-street/

Flagship Apple Retail Store Coming to Toronto's Bloor Street?

Tuesday February 28, 2012 11:00 am PST by Eric Slivka

Urban Toronto reports that it has received information indicating that Apple has reached an agreement to occupy 1 Bloor Street West in Toronto, potentially signaling plans for a major new flagship store in the heart of one of Toronto's major commercial districts.The space is currently occupied by Stollery's, a 30,000 square-foot clothing store. It is unclear how Apple would choose to reconfigure the space for its own uses, but the potential for a large flagship store is certainly present at this key location.

Apple had previously been rumored to be looking to occupy retail space in an 80-story tower planned for 1 Bloor Street East, directly across Yonge Street from the newly-rumored location, but the tower project stalled amid financing concerns. A plan for 1 Bloor East has been resurrected by a new developer working on a 65-story condominium tower, but it appears that Apple has now pursued alternate plans for its forthcoming store.

 

[pw20]

I think that is where you're wrong
A lot of ppl who make $300,000 and I'm being serious so don't shoot the messenger are maxed out.

Mortgage payments, car payments, private school payments etc... and that 300k doesn't seem like very much.

So the fact that your typical lawyer makes 1 million in New York versus 250 in Canada, is a HUGE difference, when some costs (ie private school costs) are relatively equal. There just not as many upper middle class people in Canada, per capita as there are in the staes. its par of the reason why the Occupy Movement seemed so minor in Canada.

 

[ACT7]

I think that is where you're wrong
A lot of ppl who make $300,000 and I'm being serious so don't shoot the messenger are maxed out.

Mortgage payments, car payments, private school payments etc... and that 300k doesn't seem like very much.

So the fact that your typical lawyer makes 1 million in New York versus 250 in Canada, is a HUGE difference, when some costs (ie private school costs) are relatively equal. There just not as many upper middle class people in Canada, per capita as there are in the staes. its par of the reason why the Occupy Movement seemed so minor in Canada.

I'll concede that a lot of very high income earners are up to their eyeballs in debt - when I worked in financial services, I dealt with lawyers who made $1.5 MM per year and had credit cards maxed out. So while a person making $300K per year does not have the disposable income of a million dollar earner, the relative lifestyle expenses can be pretty equal. The more you make, the more you spend right?

There's a reason why the high end boutiques that do exist in Toronto do so well - much better than several of their American or other global locations. Yorkville aside, look at Yorkdale, which has the second highest sales per square foot in North America.

 

[Torontovibe]

I'll concede that a lot of very high income earners are up to their eyeballs in debt - when I worked in financial services, I dealt with lawyers who made $1.5 MM per year and had credit cards maxed out. So while a person making $300K per year does not have the disposable income of a million dollar earner, the relative lifestyle expenses can be pretty equal. The more you make, the more you spend right?

There's a reason why the high end boutiques that do exist in Toronto do so well - much better than several of their American or other global locations. Yorkville aside, look at Yorkdale, which has the second highest sales per square foot in North America.

Just out of curiosity, what mall or shopping area, does have the highest sales per sf in North America?

 

[ACT7]

Just out of curiosity, what mall or shopping area, does have the highest sales per sf in North America?

http://money.usnews.com/money/business-economy/slideshows/americas-most-profitable-malls

This list is pretty recent. The Forum Shops at Ceasar's in Vegas is #1. Only one other mall in Hawaii exceeds $1,000/sq. ft, but Yorkdale is approx. $1,300/sq. ft which would make it second in N.A.

 

[greenleaf]

The Courtyard restaurant has closed and will become The Oxley.

http://www.thegridto.com/life/food-drink/the-queen-and-beaver-spawns-the-oxley/

 

[ACT7]

Heard from an insider close to Cushman & Wakefield that the old Mac spot will be a Van Cleef & Arpels. Nothing confirmed yet though. I think there were rumours before that it was going to be a Links of London? It would make sense for it to something like one of those - maybe even a Roberto Coin.

 

[prosperegal]

Heard from an insider close to Cushman & Wakefield that the old Mac spot will be a Van Cleef & Arpels. Nothing confirmed yet though. I think there were rumours before that it was going to be a Links of London? It would make sense for it to something like one of those - maybe even a Roberto Coin.

Hmm, interesting. I thought they were going to go into the new Four Seasons (someone told me that a jewellery store signed a lease there a long time ago).

 

[ACT7]

Hmm, interesting. I thought they were going to go into the new Four Seasons (someone told me that a jewellery store signed a lease there a long time ago).

You mean Van Cleef? Or Links or Roberto Coin? I heard it was Breitling that signed one of the Four Seasons spots - there are two available.

 

[prosperegal]

You mean Van Cleef? Or Links or Roberto Coin? I heard it was Breitling that signed one of the Four Seasons spots - there are two available.

Meant Van Cleef. But that was a few years ago - like when the building was first announced.

 

[vatche]

Meant Van Cleef. But that was a few years ago - like when the building was first announced.

Does bloor have any lower end stores that shouldn't be there??

 

[prosperegal]

Does bloor have any lower end stores that shouldn't be there??

You know, when H&M first opened, I thought it shouldn't be there, but somewhere just south. I guess their success with designer collabs changed my mind.