Austrian crystal jewellery/collectable/gift retailer Swarovski is launching a Canadian store expansion in 2017, and has partnered with a leading brokerage to secure additional real estate. Swarovski is in the process of expanding its corporately-owned base of stores in Canada, and is examining various markets as it establishes its strategy.
Swarovski was founded in Austria in 1895, and operates globally through its own stores as well as franchised locations and wholesale accounts. Its products include jewellery, figurines, home decor and various other collectable and gift items, with a focus on integrating cut-glass crystals into its designs. The company’s 2015 revenues were estimated to be 2.6 billion Euros for its operations in about 170 countries, with over 2,680 stores and an estimated 31,000 employees.
In Canada, Swarovski operates 43 corporately owned stores, and is distributed in about 300 points-of-sale that include franchised boutiques and shop-in-stores in partners such as Hudson’s Bay. For its corporate store expansion, Swarovski has retained Aurora Realty Consultants to coordinate real estate deals, under the direction of Manon Parisien.
In 2017-2018, Swarovski is expected to open approximately 10-12 freestanding corporately owned stores in Canada. Markets have yet to be determined, as national strategy is still being finalized. Swarovski operates stores both on urban street-fronts as well as within shopping centres. According to Aurora Realty Consultants, Swarovski’s mall-based stores will ideally be in the 800 square foot to 1,000 square foot range, while street-front locations may be slightly larger, between 800 and 1,100 square feet. The company’s largest Canadian store, located at the northwest corner of Yonge and Bloor Streets in Toronto, measures in excess of 2,000 square feet. It’s expected to relocate at some point, however, as a major redevelopment of that corner will be announced some time in 2017.