Fossil Taps Canada For Further Expansion

May 16, 2011

We are excited to announce that Fossil Inc. and Canada's leading fashion mall landlord, Cadillac Fairview have concluded two new transactions.

First, in mid-June, Fossil will open its second location in the province of Quebec, at Carrefour Laval. The store will be 1550 sq.ft., with 25 foot wide storefront. Neighbouring tenants include Marciano, Lucky Brand Jeans, Guess, and Pandora. Carrefour Laval is the top performing mall in the province of Quebec, with sales of approximately $670 psf. The shopping centre has a GLA of approximately 1.2M sq.ft.
Then, in early September, Fossil will open a flagship location at Rideau Centre in Ottawa. The opening will mark Fossil's entry into Ottawa (Canada's 4th largest city). The premises are 2000 sq.ft, with 30+ ft frontage, and will be Fossil's largest (full priced) location in Canada. The store is strategically situated on the mall's 2nd level, adjacent Aldo, Benetton, Coach, Lacoste, Banana Republic, Michael Kors...etc Rideau Centre is #5 ranked mall in Canada (#1 in Ottawa) in terms of sales performance, with sales of  approximately $910 psf.

I'd like to thank both Sylvie Plourde and Cindy Van Buskirk of Cadillac Fairview, for all of their help and efforts throughout the negotiations. Like an expert, Sylvie kept us on course at all times (even those difficult ones). As for Cindy, her longstanding support for Fossil is greatly appreciated. 

Fossil is seeking to open additional Canadian locations. Markets of interest include Vancouver, Montreal, Toronto, Halifax and Moncton. Size required is 1200-1500 sq.ft (minimum frontage of 23.5 ft). Fossil will consider super regional shopping centres and street-front locations.

Further to the above, Fossil is also prepared to open an outlet location in Ontario. Minimum size required is 3000 sq.ft.

Fossil is based in Richardson, Texas and currently operate over 360 corporate store locations in 20+ countries.

For more information on Fossil, please visit their website at

Le Creuset Opening Confirmed for Sherway Gardens

May 09, 2011

We are pleased to announce that Le Creuset will open its 2nd Canadian location, and first in Ontario, at Sherway Gardens. The leased premises is 1350 sq.ft and will be situated adjacent Lululemon, Coach, William Sonoma, and Michael Kors. The store is scheduled to open in mid-August.

Owned by Cadillac Fairview, Sherway Gardens is the #6 ranked centre in Canada (#4 in Ontario) in terms of sales performance, boasting sales slightly above $900 psf. The mall has a GLA of 988,000, with approximately 210 stores.

I'd like to thank Bob Ryan (CF Director of Leasing Ontario Portfolio) for his help in completing this transaction.

Le Creuset opened their 1st Canadian location in August 2010 at Chinook Centre in Calgary. At present, there are approximately 118 Le Creuset (corporate) stores operating in 15 countries.

For more information on Le Creuset, please visit their website at

Pinkberry Set to Open 1st Canadian Location

April 25, 2011

We are pleased to announce that Pinkberry will open its 1st Canadian location, on July 1, at The Village at Park Royal in Vancouver. The store will be 850 sq.ft with approximately 25 ft frontage.

Park Royal is located in West Vancouver and is home to both an enclosed mall and Canada's 1st lifestyle centre. The property has a GLA of approximately 1.1M sq.ft., and over 225 stores.  Furthermore, with sales of $690 psf Park Royal is the #13 rank centre in Canada, in terms of sales productivity.

I'd like to thank Maria Holly and all of the Larco team for their help in completing this agreement.
In addition the Park Royal opening, Pinkberry has come to terms to open a second Vancouver location, on November 1. More details to follow soon.

In less than 5 years, Pinkberry has become the leader in the frozen yogurt category and has developed a cult like following with its customers. Pinkberry operates over 100 locations in the US, Middle East, Mexico. In 2011, the company has finalized plans to enter new markets such as China, Russia, Canada...etc. Also, Pinkberry expects to double its total store count in each of the next 4 years.

Pinkberry's Canadian expansion efforts continue to concentrate on the province of British Columbia. The company will consider street-front locations, super regional centres, and power centres. Centres with movie theatres are preferred. Size required is 600-900 sq.ft for an in-line store. Kiosk (250 sq.ft) locations are also of interest.

Please feel free to give us a call if you have any questions, comments, or sites that you with to proposed.

For more information on Pinkberry, please visit their website at

Livin Loud - Lole to Enter Ontario

March 28, 2011

We are pleased to announce that ladies activewear specialist, Lole (Live Out Loud Everyday) will open 2 new stores, this summer.

The first location opens June 15th, on Sherbrooke Street West, in Montreal. The premises will be 1500 square feet. Lole is set join other retailers such as Uggs, James Perse, North Face, Starbucks...etc, who have also opened, in the affluent and trendy, Westmount shopping district.

I'd like to thank Michael Doroshenko of Cromwell Management (the landlord) for all of his patience and efforts throughout our negotiations.

Drum roll please.

In July, Lole opens their first location in Ontario, on Lakeshore Road East, in Oakville. The premises will be approximately 2000 square feet. Lakeshore Road East boasts a very strong, upscale shopping market, which is home to many terrific retail brands including,  Roots, Urban Outfitters, Lululemon, Tommy Bahama..etc.

My compliments and thanks go out to Kartik Ganatra for his assistance and tenacity.

In addition to the above, we anticipate the opening of one more Lole store in 2011. Super regional shopping centres in Ontario, are of interest. Size required is approximately 1500 square feet.

At present, there are two Lole stores; one in Montreal and the second, in Geneva.

Don't forget to check out the Lole App on ITunes - LolePop. Download your photos and they will be displayed in Lole's stores. Cool.
For more information on Lole, please visit their website at

Fossil - Record Sales and Earnings

March 10, 2011

Late last month, Fossil Inc released it's 4th quarter results for 2010; the results were outstanding.

Fourth Quarter Results (2010 vs 2009)

- Net sales increased 32.8% to $701.1 million compared to $527.8 million
- Gross Profit increased 34.5% to $400.1 million, or 57.1% of net sales, compared to $297.6 ,million, or 56.4% of net sales;
- Operating income increased 38.5% to $149.5 million, or 21.3 of net sales, compared to $108 million, or 20.5% of net sales
- Net income increased 38.1% to $96.7 million compared to $70 million
- Global retail comps Increased 20.3%

Fiscal Year Results

- Net sales increased 31.2% to $2.03 billion compared to $1.55 billion
- Gross Profit increased 36.7% to $1.16 billion, or 56.9% of net sales, compared to $0.84 ,billion, or 54.6% of net sales;
- Operating income increased 77.9% to $376.4 million, or 18.5 of net sales, compared to $211.6 million, or 13.7% of net sales
- Net income increased 83.4% to $255.2 million compared to $139.2 million

Fossil is prepared to open approximately 6 Canadian locations in 2011, and are targeting super-regional malls. Size required is 1500 sq.ft (with minimum of 23.5 ft storefront).

In addition, Fossil is also seeking to open one Fossil Outlet in Ontario or Quebec in 2011. Size required is 3000-6000 sq.ft.

Fossil is also now prepared to open the first Watch Station store in Canada, which specializes in the sale of all licensed brand watches (Michele, Burberry, DKNY, Armani...etc).  

Fossil operates 360 corporate stores in 15+ countries.

For more information on Fossil, please visit their website at

Should you have any questions, comments, or require additional information, please contact me.

Hot Fudge Alert

March 02, 2011

We are pleased to announce that Hot Fudge will open it's 2nd store, in August, at Les Riveres shopping centre in Trois Rivieres, Quebec.

The new store is 1326 sq.ft, and will be strategically located at the mall's 50 yard line, facing Garage, Ernest, and Melanie Lyne. The store is situated on a corner and has two side frontage and over 45 foot of total storefront.

Hot Fudge has been all the rage in Quebec City since opening last year at Place Laurier. Their unique store design and visual presentation, phenomenal assortment of fashion accessories, and have strongly resonated with their core demographic.

A little history.

Hot Fudge was founded by Joey Labrecque. Joey and I met some 10 years ago, when he began to work for his family, who own and operate another successful fashion accessories chain by the name of Bizou. I had already been employed by Bizou for approximately 5 years, working with Joey's father Marcel (who himself is an exceptionally talented individual) in regard to developing, updating, and implementing Bizou's real estate strategies. Joey had a tremendous work ethic and quickly learned both the operations and real estate side of the business. Joey learned from a master in Marcel for 10 years, and then courageously made the decision to further his explore his own dream - Hot Fudge

Joey's success with Hot Fudge is well deserved. He works tirelessly to ensure his store is operating optimally and he is omni-focused on the newest trends. On a personal level, Joey is an exceptionally kind and humble person, who values his both his work-team and family. It's easy to see why there is much interest from the financial world to participate and support Hot Fudge's expansion program.

Les Rivieres is an excellent mall for Hot Fudge 2. The mall has 140 stores and is the dominant fashion mall between Montreal and Quebec City.

I'd like to thank Eric Fortier of Ivanhoe Cambridge for all of his efforts in completing this transaction.

Should the right opportunity present itself, Hot Fudge is prepared to open one more location in 2011. Super-regional shopping centres in Montreal, Quebec City and Ottawa are of interest. Size required 1300-1600 sq.ft

Keep up the good work Joey!