Luxury retailers in Canada are making a “typically American” move and shifting into the country’s shopping malls, a new study says.
Traditionally, luxury brands set up shop on ritzy shopping streets in city centres, such as Toronto’s Bloor Street or Vancouver’s Burrard Street, but those brands are now making a move into malls, retail advisory firm WINSTON Collective says in its study.
For that reason, some of Canada’s suburbs are becoming “luxury retail nodes” for the first time, company owner Brian Winston said.
Leading the way is Toronto's Yorkdale Mall, which has amassed 15 luxury stores. But other suburban malls like Calgary’s Chinook Centre and Mississauga’s Sherway Gardens are also now among the top 10 concentrations of luxury retail brands in the country.
That said, the country's top luxury retail area is still a downtown high street: Toronto's "Mink Mile," the name given to a stretch of Bloor Street that features 23 luxury retailers, the largest concentration in Canada.
Here are the top 10 “luxury retail nodes” in Canada, including the number of stand-alone luxury stores in the area, and the number of luxury concessions inside other stores.