Retail News CRM

Tag: canada

  • South Korea’s VDL Cosmetics a new store in Toronto

    South Korea’s VDL Cosmetics a new store in Toronto

    Korean cosmetics firm VDL is expanding in the Canadian market with the launch of the brand’s first flagship store in Toronto’s Queen West neighborhood.

    VDL, which stands for Vivid Dreams come to Life, was founded by LG Household & Health Care Corp in 2012. The brand has successfully expanded to China, Singapore, Hong Kong and Saudi Arabia, and is breaking into North America for the first time.

    To celebrate the Toronto launch, the brand will be hosting an interactive pop-up shop at the CF Toronto Eaton Center from April 8–14, offering special prizes and hosting a range of engaging activities.

    VDL’s most recent collection, the 2019 limited edition Living Coral range, is set to officially launch on April 1st and will be available in store for preview in March. Select items from the collection are already available online.

    The brand is pursuing its strategy of working with world-class makeup artists in expanding in the region. In Canada, celebrity makeup artist Martin Younan is working with the brand to ensure VDL products reach consumers.

    “I’ve been visiting Korea for years now and having VDL here in North America is beyond exciting,” said Younan.

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  • HMV saved by Sunrise Records, but some stores will close

    HMV saved by Sunrise Records, but some stores will close

    Canadian firm Sunrise Records has emerged as the buyer of collapsed music chain HMV, beating competition including Sports Direct owner Mike Ashley. The firm will buy 100 stores out of administration, securing 1,487 jobs. But 27 stores will close, resulting in 455 redundancies. Sunrise Records chief executive Doug Putman said he was “delighted to acquire the most iconic music and entertainment business in the UK.”

    No price was given.

    Canadian entrepreneur Mr Putman, 34, bought the retail chain Sunrise Records in 2014. He previously bought HMV’s Canadian business in 2017, expanding his small chain into a national operation with 80 outlets.

    Mr Putman is also President of Everest Toys, the largest toys and games distribution company in North America. He said that HMV was a “fantastic, heritage brand”. He also said the chain would be looking to stock more vinyl records, in response to customer demand.

    HMV owner Hilco, which took the company out of its first administration in 2013, has blamed a “tsunami” of retail challenges for the latest collapse.

    These include business rate levels and the increasing use of streaming services to deliver music and movies.

    HMV sold 31% of all physical music in the UK in 2018 and 23% of all DVDs, with its market share growing month by month throughout the year.

    However, the music industry expects physical entertainment sales to shrink by another 17% this year.

    Will Wright, partner at KPMG and joint administrator said: “We are pleased to confirm this sale which, after a complex process, secures the continued trading of the majority of the business.

    “Our immediate concern is now to support those employees that have unfortunately been made redundant.”

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  • Deciem skincare firm founder passed away

    Deciem skincare firm founder passed away

    Brandon Truaxe, the founder of Canadian skincare company Deciem, has died at the age of 40, the firm announced in an Instagram post. Truaxe launched the brand, best known for its affordable skincare line The Ordinary, in Toronto in 2013. Since then it has since expanded worldwide, with stores in the US, the UK, South Korea, Australia, Mexico and the Netherlands.

    “Brandon, our founder and friend. You touched our hearts, inspired our minds and made us believe that anything is possible,” a Monday post on Deciem’s Instagram reads.

    CIUDAD DE M?????????XICO, marzo 30 (EL UNIVERSAL).- Brandon Truaxe, joven creador del concepto, recibi?????????? a decenas de invitados en este nuevo espacio, donde las personas podr?????????n solicitar asesor??????????a sobre los tratamientos m?????????s efectivos para mejorar el estado del cutis y otras zonas del cuerpo. Foto: Agencia EL UNIVERSAL (GDA via AP Images)

    “Thank you for every laugh, every learning and every moment of your genius. Whilst we can’t imagine a world without you, we promise to take care of each other and will work hard to continue your vision. May you finally be at peace.”

    The Estée Lauder Companies, an investor in Deciem since 2017, said in a statement: “Truaxe was a true genius, and we are incredibly saddened by the news of his passing … he positively impacted millions of people around the world with his creativity, brilliance and innovation. This is a profound loss for us all.”

    Truaxe was removed as co-CEO of Deciem in October 2018 following a lawsuit brought by Estée Lauder, after his posts on the company’s social media accounts became increasingly erratic.

    “Brandon will always be the founder of Deciem,” the company posted on Instagram in October. “We will take the passion and values he has instilled within us as we continue to grow the brands we have created with transparency, integrity, authenticity, function and design.”

  • Chun Yang Tea expands into Canada

    Chun Yang Tea expands into Canada

    Taiwanese bubble-tea brand Chun Yang Tea is launching its first store in Canada. With operations across Taiwan as well as in Mainland China, Hong Kong, Macau and Malaysia, the brand is now planning two new store locations in Toronto and one in Vancouver. While the Canadian market has been judged as saturated for bubble-tea retailers, Chun Yang claims its product is authentic and traditional, offering beverages made without any artificial milk powder to achieve a more natural taste.

    So far no information has been released as to exact launch dates, although the brand’s website claims the stores are “coming soon”.

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  • Time is running out for Sears offer

    Time is running out for Sears offer

    Sears chairman Eddie Lampert’s last minute plans to save the bankrupt retail chain are set to be terminated on Friday afternoon, New York time, should they be determined to not be a “qualifying bid”. The first plan, a US$4.4 billion offer to purchase Sears, would provide ongoing positions for 50,000 employees and is the “best outcome for the debtors and their creditors and other stakeholders,” according to documents filed with the US Securities and Exchange Commission.

    The second plan, however, is an offer to acquire at least 250 stores as a going concern, as well as certain assets across the home services division and certain intellectual property.

    Earlier this week the business confirmed a further 80 stores would be closing by March, alongside the 40 already announced, with liquidation sales expected to begin in early January 2019.

    GlobalData Retail managing director Neil Saunders mused that the brand had hit rock bottom and was “essentially worthless” in its current state.

    “Ultimately, reinventing Sears now would be akin to raising the Titanic and making is seaworthy again: a thankless and rather pointless task,” Saunders said.

    Lampert stepped down as company chief executive when it filed for bankruptcy in October.

  • Canada Goose opens store in Beijing

    Canada Goose opens store in Beijing

    Winter clothing firm Canada Goose has finally opened its first Mainland Chinese store in Beijing. In a launch rumoured to be delayed due to political tensions between China and Canada – and dismissed by the firm as the result of construction delays – extensive queues saw shoppers waiting for over an hour for the opportunity to purchase the CNY9000 (US$1300) parka jackets.

    The brand has previously enjoyed significant popularity in Hong Kong.

    An email from the firm to news agency Reuters read “We are proud of our newest store in China and look forward to welcoming our fans”.

    Calls to boycott the brand were made on social media following Canada’s arrest of Huawei Technologies’ CFO Meng Wanzhou, a situation that has sparked a 37 per cent drop in the value of Canada Goose shares in Toronto.

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  • Miniso Canada is collapsing

    Miniso Canada is collapsing

    Miniso Canada is on the brink of bankruptcy after an action brought against it by its Chinese parent company alleging fraudulent business dealings and the transfer and hiding of assets. The extraordinary situation was revealed by Canadian website which in its last update reported the Canadian subsidiary had reached a preliminary agreement with the Chinese company to avoid the move.

    Miniso China has declined comment.

    Citing court documents, Miniso China is owed C$20 million (US$14.7 million) and had retained a lawyer to commence legal action in British Columbia courts to recover the amount.

    Minso launched in Canada last year with plans for 500 stores within five years. To date it has opened 48.

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  • Popular Japanese ‘100-yen’ store Oomomo opens in Toronto Canada

    Popular Japanese ‘100-yen’ store Oomomo opens in Toronto Canada

    Japanese discount retailer Oomomo has launched in Canada with plans for stores in most major cities. The first store opened in West Edmonton Mall in Alberta last month and was followed by another in Toronto this week, which attracted queues of customers to check out its eclectic mix of homewares, stationery, snacks and beauty products.

    More stores are planned in Vancouver, Burnaby in British Columbia and North Edmonton and Markham in Ontario.

    Oomomo translates into “big peach” in English and in Japan the chain is one of a group of retailers commonly referred to ‘100-yen’ stores. Most of its stock is priced at less than C$3.

    Some of the stock is sourced from Japanese retailer Daiso.

    View the gallery of the new store below (6 images) :

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  • Lululemon founder to join the takeover bid for Amer

    Lululemon founder to join the takeover bid for Amer

    Canadian founder of yoga-apparel retailer Lululemon Athletica Inc., Chip Wilson, is close to joining the Chinese investor group pursuing a takeover of Amer Sports Oyj. The billionaire is in talks to take around a 20 per cent stake as part of the consortium led by Anta Sports Products Ltd. The buyer group and Helsinki-based Amer could announce a takeover agreement as soon as the next few weeks, a anonymous source reported.

    Shares of Amer climbed by the most in almost three months.

    Chinese internet giant Tencent Holdings Ltd. has been discussing joining the Anta consortium with a stake of roughly 5 to 10 per cent.

    Anta said in September it had teamed up with Chinese buyout firm FountainVest Partners to make an indicative offer valuing Amer at about 4.7 billion euros (US$5.3 billion).

    Negotiations are reportedly ongoing, and precise terms could change. No final decisions have been made, and the talks could still be delayed or fall apart.

    A representative for the Chinese consortium said she couldn’t immediately comment. Wilson couldn’t immediately be reached. A spokeswoman for Tencent declined to comment, while a representative for Amer didn’t immediately respond to a request for comment.

    Shares of Amer surged as much as 9.7 per cent — the most since Sept. 11 — before trading up 7.2 per cent to 35.44 euros as of 1:26 p.m. in Helsinki.

    Wilson’s holding company Hold It All Inc., which manages his family’s investments and real estate, also has a private equity unit and a philanthropic arm. He stepped down from the board of Vancouver-based Lululemon in 2015, two years after resigning as chairman. Wilson has a net worth of about US$3.5 billion, according to the Bloomberg Billionaires Index.

    Anta, which has a market value of about US$12.5 billion, has been working to grow its business overseas amid a Chinese government push to expand in sports ranging from soccer to skiing. Amer’s portfolio of well-known sports brands, including Salomon ski equipment, could be an attractive prospect for Anta ahead of the upcoming Olympic Games in Asia.

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  • LNG Canada investor Petronas signs gas supply deal with Vitol

    LNG Canada investor Petronas signs gas supply deal with Vitol

     LNG Canada, the US$30 billion (RM125.7 billion) liquefied natural gas (LNG) export project, has bagged another client after project shareholder Petroliam Nasional Bhd (Petronas) signed an initial sales deal with trading house Vitol.

    Royal Dutch Shell decided in October to construct the export terminal. It was the first major investment decision in a new North American LNG export project for two years and was expected to launch a new wave of such projects in the region.

    Petronas, the Malaysian state-owned oil and gas company that bought a 25% stake in the project in May, will supply Vitol with 0.8 million tonnes per year (mtpa) of LNG starting from 2024 for 15 years, Vitol said in a statement.

    “The primary supply to Vitol will come from LNG Canada as well as from (Petronas’) other global LNG supply portfolio,“ Vitol said.

    Vitol joins Asian utilities Tokyo Gas, Toho Gas and Korea Gas Corp (Kogas) as buyers, committing to offtake around 2.4 mtpa collectively.

    Such long-term agreements normally underpin project finance and are critical before a final investment decision is taken. But because Shell and partners Petronas, PetroChina, Mitsubishi and Kogas are such large players in the LNG market, they can absorb the output into their global portfolios without needing to find significant other buyers.

    Under previously announced deals, Toho Gas will buy 0.3 mtpa, Tokyo Gas 0.6 mtpa and Kogas 0.7 mtpa from LNG Canada.

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  • Muji reopen largest store outside Asia

    Muji reopen largest store outside Asia

    Muji Canada is reopening its original Toronto location next week as its first flagship store in the country’s east. The Muji Atrium opened four years ago as the company’s first location in Canada. While the previous store occupied 5658sqft of retail space, the new flagship store will reach 19,110sqft spread over two floors, becoming the largest Muji store outside of Asia.

    “During the four years since we expanded to Canada, we opened seven additional stores and gradually increased our range of products and services,” said Muji Canada president Toru Akita.

    “By allowing us to reach out to more people and to further convey our philosophy, the Atrium flagship store will open a new chapter for Muji in Canada.

    “Through interactive events, innovative projects, and new partnerships, we wish to connect and evolve together with local communities and contribute to the creation of a better quality of life.”

    The location will carry Muji Canada’s full range of merchandise of more than 4000 items – including household goods, apparel, and food – and offer many products and services only available in select Muji flagship stores around the world, such as a coffee counter serving ethically sourced coffee and an aroma bar that will allow customers to create customised fragrances from more than 40 essential oils.

    Muji Atrium will feature two new customisation services for customers to personalise their products for the first time outside of Japan, including a digital fabric printing service and laser engraving service

    Muji Atrium will be the only location in Eastern Canada to carry books, made-to-order curtains and rugs, the Muji Labo collection, maternity wear, a brand new activewear collection and more.

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  • Uniqlo Canada network will double

    Uniqlo Canada network will double

    Uniqlo Canada has announced four new stores, almost doubling its retail footprint within the country.

    COO of Uniqlo Canada Yasuhiro Hayashi said the company was encouraged by the warm welcome the Japanese fast-fashion chain has received to date.

    “We are thrilled to be opening three new stores in the Greater Toronto Area and a fourth new store in Greater Vancouver.”

    The British Columbia location will open at Coquitlam Centre on September 14, while the rest will open in Ontario at Vaughan Mills on September 28; CF Markville on October 12; and Square One Shopping Centre on November 2.

    Consumers outside Toronto and Vancouver can now shop Uniqlo Canada via a newly launched mobile e-commerce platform.

    All Uniqlo Canada stores participate in a recycling initiative in which customers can drop off gently used Uniqlo clothing as donations for those in need.

  • Vietnam steel faces protectionism in Canada, EU

    Vietnam steel faces protectionism in Canada, EU

    The EU and Canada are taking safeguard measures to protect their steel companies from exports from Vietnam.

    The EU claimed it is taking the protective measures due to a surge in imports from many countries in recent years.

    Imports of steel products had been 18.8 million tons in 2013 but jumped to 30.5 million last year, according to the Official Journal of the European Nation published on July 18.

    Vietnam is listed among the developing countries which face provisional measures lasting 200 days starting July 19.

    Three of its products – non-alloy and other alloy cold-rolled sheets, metallic coated sheets and stainless cold-rolled sheets and strips — now attract a 25 percent additional tax.

    The Canada Border Services Agency (CBSA) said it is considering if Vietnamese carbon steel-welded pipes are being sold at unreasonable prices making it harder for local companies to compete.

    Other countries are also being investigated, including Pakistan, the Philippines and Turkey.

    The investigation, which began on July 20, came after Novamerican Steel Inc. in Montreal city alleged that local steel companies could not compete because of price undercutting by the countries listed subsequently.

    The CBSA will work with local authorities to investigate and expects to release its preliminary evaluation on October 18.

    Vietnam exported 4.71 million tons of steel worth $3.15 billion last year, 35.6 percent and 55.1 percent up from 2016 in terms of volume and value.

    ASEAN member countries are its main importers, accounting for 59.2 percent of exports, and the U.S. ranks second at 11 percent, a Vietnam Steel Association report said earlier this year.

  • Tim Hortons plans 1500-store China expansion

    Tim Hortons plans 1500-store China expansion

    Tim Hortons plans to open more than 1,500 of its coffee-and-doughnut shops in China over the next decade.

    The expansion seeks to capitalize on the country’s burgeoning coffee culture and is the latest international location for the coffee chain aiming to become a global brand.

    “China’s population and vibrant economy represent an excellent growth opportunity for Tim Hortons in the coming years,” the brand’s president, Alex Macedo, said in a statement.

    The chain signed a master franchise joint venture agreement with private equity firm Cartesian Capital Group for it to develop and open the restaurants. Financial terms were not immediately available.

    In 2012, Cartesian Capital partnered with Tim Hortons parent company Restaurant Brands International, which also owns Burger King and the Popeyes brand, and the Kurdoglu family to develop the burger chain in China. There are now more an 900 Burger King restaurants in China.

    City dwellers, especially young people and white-collar employees, in China increasingly drink coffee and have helped the café industry see strong growth, according to market-research firms.

    The turn to caffeine partly comes from lifestyle changes, people earning more money and more people living in cities, according to the firms.

    Consumers choosing coffee have helped fuel coffee chains’ expansion into China.

    Starbucks had 3,300 stores in 141 cities in China as of May and plans to total 5,000 by 2021.

    China is its fastest growing market and it opens a new store in the country every 15 hours.

    Whitbread, which operates Costa Coffee, has 449 of the coffee chain’s shops in China and plans to have 1,200 by 2022, according to its most recent annual report.

    While Tim Hortons is confident it can appeal to the Chinese, it’s latest international expansion plans haven’t convinced everyone.

    BMO Capital Markets analyst Peter Sklar said the expansion presents a growth opportunity for the company.

    “However, we believe there is significant uncertainty about whether the international rollout of the Tim Horton’s brand will ultimately be successful,” he wrote in a report.

    Tim Hortons has previously announced plans to expand to Spain, Mexico, Britain and the Philippines.

    “We remain concerned about its potential for success given RBI’s challenged expansion into the U.S. in the past,” Sklar wrote.

    The coffee chain is not as well known outside Canada than RBI’s fast-food brand Burger King, he said, adding to the uncertainty.

    Tim Hortons has more than 4,700 restaurants in Canada, the United States and around the world.

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  • Fast food chain Jollibee to open 100 Canadian stores

    Fast food chain Jollibee to open 100 Canadian stores

    Filipino fast-food chain Jollibee Food Corporation plans to open 100 stores in Canada within the next five years.

    The company says it is eyeing the wave of new locations because the country is a key growth market and a big part of its North American expansion plans.

    Jollibee attracted long lines of customers when it entered the Canadian market in 2016, opening two Winnipeg locations and a store in Scarborough, Ont. over the last three years.

    It hopes to expand further in Ontario, but is also exploring stores in Edmonton, Calgary and Vancouver.

    Its aggressive expansion comes as international interest in Filipino food is rising and as Canada is attracting an increasing number of restaurants serving such food.

    Jollibee’s Filipino fare includes spaghetti in a sweet sauce, crispy chicken, burgers and peach mango pies.