Saks Fifth Avenue‘s off-price division Saks OFF 5TH opens its first three Canadian locations this morning in southern Ontario. The retailer has plans to operate up to 25 Canadian stores by the end of the decade.
“There is great anticipation and consumer interest for our Saks OFF 5TH luxury off-price format in Canada,” said Jonathan Greller, President, HBC Off-Price. “We are thrilled to finally open the doors of our first Canadian stores next week and show customers a new experience in remarkable savings from some of the most notable names in fashion.
The three locations that open today include:
- Outlet Collection at Niagara, Niagara-on-the-Lake, ON: 32,500 square feet.
- Toronto Premium Outlets, Halton Hills, ON: 25,000 square feet.
- Vaughan Mills, Vaughan, ON: 35,000 square feet.
On Thursday, March 24, OFF 5TH’s fourth Canadian location will open at Tanger Outlets Ottawa, measuring 28,000 square feet.
Farla Efros, President of leading retail consultancy HRC Advisory, explained how Canada is underserved by off-price retailers, and how the category is seeing considerable growth. She noted that many Canadians are familiar with OFF 5TH (and other similar retailers) from visiting the United States. She also said that given the low Canadian dollar and the economy, the timing for OFF 5TH’s Canadian entry could yield the retailer considerable success as Canadians embrace value-oriented designer shopping.
Saks has announced a total of 11 Canadian stores, with the intention to open about 25 within Canada by the year 2021. Other confirmed Saks OFF 5TH Canadian locations include the following:
- CrossIron Mills, Calgary: 30,000 square feet
- Tsawwassen Mills, Delta BC: 32,687 square feet
- Downtown Ottawa (Hudson’s Bay Building): 33,000 square feet
- Montreal Eaton Centre: 44,840 square feet
OFF 5TH’s Canadian entry comes one month after Saks Fifth Avenue opened its first two Canadian stores, both in Toronto. The Canadian flagship, which opened February 18 and measures about 170,000 square feet, is located within the Hudson’s Bay building at CF Toronto Eaton Centre. A second 143,000 square foot Saks location opened a week later at CF Sherway Gardens.