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Fossil Acquires Skagen Designs

January 18, 2012

We are pleased to announce that Fossil, Inc. has agreed to purchase Skagen Designs, Ltd. for approximately $236.8 million.

Skagen Designs is an international company that offers contemporary, Danish designed accessories including watches, sunglasses and clocks. The company’s corporate headquarters are located in Reno, Nevada; as well, they operate regional offices in Denmark, Hong Kong, Germany, the U.K. and Canada. Skagen products are sold in 75 markets globally with company-owned retail stores in Denmark, Germany, U.K. and Hong Kong. The first Skagen flagship store in The United States recently opened at Garden State Plaza Mall in Paramus, New Jersey.

Charlotte Jurst, co-founder of Skagen commented “We have long admired Fossil and believe they will bring great passion and vision to our brand”. “The opportunities for Skagen under the Fossil umbrella are endless and we look forward to building this wonderful brand”, added Henrik Jorst, co-founder of Skagen.

Fossil’s CEO, Kosta Kartsotis, said “It is a great privilege to join together with our Skagen colleagues to share their Danish history with the world. Skagen is unique and has enormous potential as a lifestyle brand. We see many similarities in the history and values of our two companies and look forward to creating something greater together.

With so much excitement already happening within Fossil, we are delighted to be able to report on yet another exciting transaction. The opportunity for Skagen to further develop as a lifestyle brand in parallel to Fossil is tremendous, and mutually beneficial to each respective company. Stay tuned to future blog posts for updates on how this new exciting relationship develops…

Fossil products are sold in 123 countries. The company operates 360 company owned stores. For more information, please visit Fossil's website at www.fossil.com.

Bizou Celebrates Newest Opening in Ontario

January 16, 2012

We are pleased to announce that in late November, fashion accessories and costume jewellery specialist Bizou opened a beautiful new store in Cambridge Centre. The store is approximately 700 square feet and strategically situated adjacent to other top brands such as H&M, La Senza, Aldo, Le Chateau, Reitmans, etc. Benefitting from fantastic frontage, the store is highly visible and welcoming from the mall corridor. I am delighted to report that the stores performance since opening has been excellent.

The Cambridge store opening comes following recent new Ontario stores in Bramalea City Center (in Brampton) and at 393 Queen Street West, in downtown Toronto. Looking ahead, another Bizou opening has been confirmed for May, at White Oaks Mall in London.

In 2012, Bizou is seeking to open an additional 4-6 new locations in the following markets: Ontario, Quebec and the Maritimes. Size required in 600-1000 sq.ft. Property type – regional and super regional malls as well as high pedestrian street-front locations.

Bizou continues to experience substantial performance increases. Comp sale store increases are on the rise for a fourth consecutive year, and are currently 15% above last year; in addition, newly renovated stores have increased by 37%. Previous increases were as follows: 2010 - 5%, 2009 - 5%, 2008 - 15%.

I'd like to thank Rick Johnstone of Morguard, for his assistance in negotiating this transaction. Great job Rick.

Bizou was founded in 1982. Today, the company operates approximately 130 locations spread across 6 provinces, from Newfoundland to Ontario.

For more about Bizou, please visit company’s website at www.bizou.com. For additional information and leasing opportunities, please contact Michael Stroll.

Think Retail Hires Michael Stroll

January 09, 2012

We are very excited to announce that Michael Stroll will be joining the Think Retail team as our new Account Executive, in charge of expanding our tenant portfolio and further developing leasing opportunities for our existing clients.

Michael started his real estate brokerage career nearly 10 years ago specializing in investment sales for Royal Lepage. Almost immediately, he was completing large scale transactions with private and public investors and was an annual recipient of the President’s Gold award as a result of his performance. Most recently, he was the co-Founder and President of LiME, a Montreal based ladies fashion retail chain.

Michael said: “I’m really thrilled to be joining Think Retail. With the recent coming of so many foreign retail players and the upcoming arrival of many more, it is a very exciting time to be working in tenant representation. Think Retail is already doing tremendous work across all parts of its business, and I’m very much looking forward to contributing to its future growth and success.”

Michael brings an incredible amount of enthusiasm, focus and entrepreneurial spirit to the Think Retail team. Having worked as both a real estate broker and as the President of a multi-store retail operation, he is in a unique position of understanding and insight that will prove to be highly beneficial to our clients. We’re really looking forward to seeing all the terrific work Michael will be doing for us, so check out our blog often to benefit from posts that exhibit Michael’s unmatched determination.

Pinkberry Draws Mega Crowd to 2nd Canadian Opening

December 21, 2011

On December 1st, Pinkberry celebrated its Grand Opening at Metropolis at Metrotown, in British Columbia. The opening event drew a mega crowd of approximately 1500 people, who came from far and wide to get their swirly goodness, that is Pinkberry. Customers were served for free, throughout the evening.  

The store, Pinkberry's 2nd in Canada, is 850 sq.ft (with 20 ft frontage), and is located adjacent the mall's food court. The design is eye catching, modern and fun, as well as, sophisticated. From the pebble floor to the Philippe Stark lamps, the store has all of the typical Pinkberry stylings (see photos).

Pinkberry will continue to expand in Canada in 2012. Four new stores are expected to open in British Columbia. Further, the company anticipates opening its first stores in Alberta and Ontario. Size required 350-1000 sq.ft. Pinkberry will also consider kiosks - 250 sq.ft. Property-type: Super regional malls, high pedestrian street-front locations, and lifestyle centres.

Further to the above, I am pleased to announce that Pinkberry will be opening a kiosk location, in the new food court at Richmond Centre, in late summer of 2012.

About Pinkberry - Pinkberry reinvented the frozen yogurt category when it launched in West Hollywood, CA in January 2005. Today it is the most talked about, best tasting, premium frozen yogurt, made. Pinkberry is the original tart frozen yogurt with a clean finish and one-of-a-kind taste that is truly crave-able; one bite and you’ll be hooked! Pinkberry operate 110 stores (approx) in the US, Canada, UK, Russia, Peru, and Kuwait.

For more info on Pinkberry, please visit their website at www.pinkberry.com. Also, check out pics with Pinkberry's celebrity ambassadors Justin Beiber, Jake Gyllenhaal, Drew Brees, Taylor Swift, Dana White....etc at www.pinkberry.com/blog/43-celebrities.html.

About Metropolis at Metrotown - The shopping centre is owned by Ivanhoe Cambridge, and is the largest enclosed shopping centre in the province of British Columbia, and 2nd largest in Canada. The mall has a GLA of approximately 1.8 million sq.ft, with 450 stores. Anchors include: The Bay, Zellers (to be converted to Target in 2013), Sears, T&T Supermarket, Silver City Cinemas, Atmosphere\Sport Chek...etc. The mall is also home to other top retailers such as Apple, Aritzia, Lululemon, Coach, Zara, F21, Sephora, Fossil….etc.

I'd like to thank Ron Clarke, Leasing Director Western Region, for Ivanhoe, for all of his efforts, help, and patience in competing this transaction. Ron is always pleasant, reasonable, well skilled, and very effective.  

Happy Holidays - Let it Swirl, Let it Swirl, Let it Swirl.

Le Creuset Opens Flagship Quebec Location at Carrefour Laval

December 16, 2011

In late November, cookware icon Le Creuset opened its first location in La Belle Province - Quebec, at Carrefour Laval. The flagship signature store (1350 sq.ft), unveils Le Creuset's new design prototype, which is absolutely beautiful. Please click on the here to view the awesome 360° image of the store.

Le Creuset currently operate 3 locations in Canada (Sherway Gardens & Chinook Centre, and now Carrefour Laval), and are prepared to consider further expansion. The following markets are of interest: Edmonton, Ottawa, Quebec City, and Vancouver. Size required 1300-1600 sq.ft (with 25 ft frontage). Property type - super regional malls.

Le Creuset was founded in 1925, in Fresnoy Le Grand, in northern France. The artisan quality that continues today, has made Le Creuset the pre-eminent cast-iron brand worldwide. Since 1987, the company has been privately owned by Paul Van Zuydam and is self financed. Le Creuset enjoys distribution in 28 countries. The company operates over 110 stores in 15+ countries. Le Creuset was recently included in the 'Top 100 Worldwide Brands' by the Times of London in.

Carrefour Laval - The shopping centre is located in Laval (15 minutes north of Montreal). Size - 1.3 million sq.ft, with approx 273 stores.  In terms of performance, with sales in excess of $700 psf, Carrefour Laval is the top mall in Quebec. Anchors include: Simons, The Bay, and Sears. The mall is home to top brands such as Apple, Zara, H&M, Michael Kors, F21, Armani A\X, Fossil...etc. The shopping centre is owned by Cadillac Fairview.

I'd like to thank Jean de Repentigny (Leasing Executive - Eastern Portfolio) of Cadillac Fairview, for bringing forth this opportunity and, as well, for his assistance in negotiating this transaction. Jean is a fantastic deal maker and a pleasure to work with.

For more information on Le Creuset, please visit www.lecreuset.com.

Fossil Inc. Reports Record 3rd Quarter Results

November 10, 2011

Fossil Inc. reported earnings for the 13 week (3rd quarter) and 39 week (Nine month period) periods ended October 1/11, and the results were fantastic, and exceeded Wall Street's expectations/forecasts. Here's a snapshot of the results:

Third Quarter Results (2011 vs 2010)


- Net sales increased 22.7% to $642.9 million compared to $523.8 million
- Gross Profit rose 20.3% to $359.5 million compared to $298.7 million
- Operating income increased 6.8% to $118.8 million compared to $113.3 million
- Global retail comp sales increased by 14.1% (8th consecutive quarter of double digit same store sales)

Nine Month Period Results (2011 vs 2010)

- Net sales increased 30.6% to $1.74 billion compared to $1.33 million
- Gross Profit rose 28.9% to $973.3 million compared to $755 million
- Operating income increased 31.2% to $297.6 million compared to $226.9 million

Congratulations to Fossil. Keep up the great work.

I am also pleased to report that Fossil Inc recently announced a strategic partnership with Karl Lagerfeld to design, develop, and distribute a line of men's and women's timepieces under the Karl Lagerfeld lable. Karl Lagerfeld is an icon for creativity and a beacon for the spirit of fashion globally. The exciting collaboration will leverage Fossil's design and distribution expertise with the essence of creativity and style that is synonymous with the Karl Lagerfeld brand. The first timepiece collection is scheduled to be launched in spring 2013 under the name of Karl Lagerfeld.

In other Fossil news, the company recently opened at Fairview Park in Kitchener, Ontario, and continue to look at Canada, for growth opportunities. Super-regional malls and high pedestrian street-front locations will be considered. Size required is 1500 sq.ft.

Fossil products are sold in 123 countries. The company operates 360 company owned stores.

For more information, please visit Fossil's website at www.fossil.com.