For months now, Toronto’s fashion enthusiasts have been all a-Twitter with rumblings that British fashion retailer Topshop would be coming to Canada. Today, Hudson’s Bay Company confirmed it has acquired franchise rights for the popular wallet-friendly chain as well as its counterpart Topman, which carries men’s clothing.
The agreement allows the Bay to open both stand-alone shops and Topshop sites within its own stores starting this fall.
“Those in the know have been anxiously waiting for Topshop and Topman to come to Canada on a large scale, and the Bay is thrilled to deliver,” said Bonnie Brooks, president and CEO of the Bay, in a release.
“It’s a material step towards cementing the Bay as a world-class department store that delivers the ultimate fashion experience for our savvy clientele,” she said.
Topshop’s partnerships with fashion model Kate Moss and textile designer Celia Birtwell have further cemented the brand’s reputation as a fashion leader. Topshop’s flagship location in London attracts over 200,000 shoppers each week, according to the retailer’s website.
“We’ve wanted to open a stand-alone store in Canada for some time, and the large site within the Bay allows us to bring the full Topshop experience to the customer in an undiluted way,” said Mary Homer, managing director for Topshop, in a release.
This latest announcement is one in a series of moves made by the Bay in recent months to appeal to a younger, more fashion-forward consumer. While most retailers spent the last couple of years recovering from tough economic times and a national decline in retail sales, the retailer decided to go upmarket, which helped earn the retailer Marketing‘s Marketer of the Year title in 2010.
Brooks has worked hard to establish the Bay as a retailer that carries young, top-end brands. In her two years in charge, she is credited with breathing new life into the once-tired chain, regaining the credibility lost to niche stores and boutiques.
Not only did the Bay undergo a fashion facelift (dropping 800 underperforming brands and adding 250 new fashion labels such as Juicy Couture and Hugo Boss), but overhauled its advertising, too.
“We’re trying to spell out that we’re cool, finally, or again, and that we have really great brands that can compete with the really high level department stores,” Tony Smith, creative director at the Bay told Marketing. “I think a lot of people think of the Bay as the place to get towels and good quality—but not expensive— stuff.”
