MCM to Open 1st Freestanding Canadian Store this Fall 


German-founded luxury brand MCM will open its first Canadian store on Toronto’s Mink Mile this fall, and it likely won’t be the country’s last. MCM is said to be doing robust wholesale business in Canada at retailers such as Holt Renfrew, Saks Fifth Avenue and Nordstrom, helping prompt a Canadian store expansion.

Founded in Munich in 1976, MCM is known for accessories and other products in its signature logo-printed material (called Cognac Visetos), similar to Louis Vuitton‘s monogram canvas. MCM (which originally stood for Michael Cromer München) was especially popular in the 1980’s for its flashy, logo-printed accessories. South Korean fashion conglomerate Sungjoo Group acquired the brand in 1995, and the brand is having a major resurgence. 

MCM’s first Canadian store will open this fall at 93 Bloor Street West in Toronto, in a retail space formerly occupied by Nine West Shoes. The 2,150 square foot store will be directly across the street from Harry Rosen’s flagship, as well as Holt Renfrew Men and a new Hermes Maison at 100 Bloor Street West. 

The CBRE Toronto Urban Retail Team negotiated on behalf of the landlord in the deal, under the direction of Arlin Markowitz, Alex Edmison and Jackson Turner


(click for interactive google map) (click for interactive google map) 

(click for interactive google map) 


(photo taken from the 3rd floor terrace at 10 Bellair/100 bloor st. w.)(photo taken from the 3rd floor terrace at 10 Bellair/100 bloor st. w.)

(photo taken from the 3rd floor terrace at 10 Bellair/100 bloor st. w.)

MCM’s moving into 93 Bloor Street West could be a signal for more luxury brands to open nearby — on the south side of Bloor, luxury retailers typically locate to the west of St. Thomas Street (except for Hugo Boss, currently at 83 Bloor Street West). 

Approximately 60% of MCM’s sales come from Asia, with the remaining 40% coming from Europe, the Middle East, and the Americas. Given the brand’s penetration in Asia, Vancouver is a likely target city for at least one freestanding MCM store. 

In the United States, MCM has seven stores: in New York City (x2) Garden City NY, Atlanta, Houston, San Jose CA, and Las Vegas. It also has an outlet in Orlando FL.

Last year, the company saw revenue in excess of US $700 million, with a goal of US $2 billion in sales globally by the year 2019. The brand has surpassed Versace in terms of overall sales and in the South Korean duty free market, which is the largest in the world, MCM is second only to Louis Vuitton in terms of sales. 


(photo: mcm)(photo: mcm)

(photo: mcm)



While the new Toronto store will be the first corporate MCM location in Canada, MCM had two free-standing licensed Canadian boutiques in the early-to-mid 1990’s, both in the resort town of Banff, Alberta. One was located at the Banff Springs Hotel and the other was downtown at Cascade Plaza, alongside Polo Ralph Lauren and Louis Vuitton. All have since shuttered as retail in the Alberta town has become less upscale. At the height of its popularity in 1993, MCM boasted 250 stores worldwide with sales in excess of $250 million. After flooding the market with product while at the same time becoming subject to counterfeiters, the brand folded in 1995, followed by a restructuring in 1997. 

Canadian Retail News From Around The Web: May 9, 2017

Article Author

Craig Patterson
Craig Patterson
Now located in Toronto, Craig is a retail analyst and consultant at the Retail Council of Canada. He's also the Director of Applied Research at the University of Alberta School of Retailing in Edmonton. He has studied the Canadian retail landscape for the past 25 years and he holds Bachelor of Commerce and Bachelor of Laws Degrees. He is also President & CEO of Vancouver-based Retail Insider Media Ltd.

More From The Author

Renovated Holt Renfrew facade on Bloor Street. Photo: Doublespace Photography

Holt Renfrew Unveils Overhauled Mink Mile Flagship Facade and Main Floor...

The luxury department store’s ‘mothership’ has seen the launch of several impressive new concession boutiques as the flagship sees an incredible transformation.
Rendering of the newly-renovated Hudson's Bay store and office building extension. Rendering: Menkes Shooner Dagenais LeTourneux

Downtown Montreal Hudson’s Bay Store Redevelopment Renderings and Plans Revealed

The store’s retail space will be downsized and renovated while a new office tower is added at the back end of the store.

RECENT RETAIL INSIDER VIDEOS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RECENT ARTICLES

Photo Tour: The Ever-Changing Sherwood Park Mall in Sherwood Park, Alberta

The shopping centre in suburban Edmonton has seen new tenants replace old ones after the demise of Target in Canada.

Brick-and-Mortar Will Continue to Be Critical for Retail in Canada Post-Pandemic: Claude Sirois

The industry expert and former head of retail at Ivanhoé Cambridge conceptualizes a future where experiential physical retail will be harmonious with digital channels.

BRIEF: Daiso Opening 1st Corporate Store in Canada, Montecristo Jewellers Opening in Vancouver’s ‘Luxury Zone’

Other News: Grocer Rabba expands Paramount Fine Foods partnership, RW&CO celebrates entrepreneurship, UofT startup launches new shoe sizing technology.

Subscribe

* indicates required
Get Connected

MOST-READ ARTICLES

International Retailers Continue to Enter Canadian Market Despite Pandemic [List/Analysis]

Retail Insider analysis of the international retailers that have entered Canada over the past 12 months as the industry looks to an uncertain future.

Canadian Footwear Brand Maguire Opens First Toronto Store

The Montreal company anticipates lower rents and as a result, plans to selectively open more locations while also significantly growing e-commerce.

Big Changes Coming for Canadian Grocery in 2021 and Beyond: Expert

Expansion of omnichannel development and greater use of predictive analytics and machine learning to help shape the grocery experience of tomorrow.
- Advertisement -
- Advertisement -
- Advertisement -