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Lole Signs Lease at Square One

November 19, 2013

Ladies activewear specialist, Lole has confirmed its next Canadian store opening will be at Square One in Mississauga. The premises (currently occupied by Capezio) is 1,133 sq.ft and is located alongside such tenants as H&M, Gap, Express, Ann Taylor Loft, A\X Armani…etc. The store will open May 1, 2014.

Lole currently operates six Canadian locations, and is bullish on further expansion. Plans call for the opening of 6 new stores in 2014. Targeted markets include Calgary, Toronto and Vancouver. High street and super regional centres are preferred. Size required 1250-1600 sq.ft. 

This year the company opened 4 stores: West Edmonton Mall (the largest shopping centre in North America), and on Toronto’s posh, Yorkville Avenue. Lole also opened in Paris at Aéroville (centre). Finally, the company opens an outlet store next week, at One Nation in Val d’Isere, one of the most prestigious ski resorts in French Alps.

Lole’s performance continues to strongly impress and clearly, the brand and products are resonating. Comp store sales are up 30% YTD.  

In addition to the above, Lole hosted over 10,000 people this summer, to its White Yoga Sessions in Paris, Toronto, Salt Lake City and Montreal. These events were magical.

Lole is owned by Quebec based Coalision Inc, whose parent company is Kilmer capital (whose CEO is Larry Tanenbaum of Maple Leaf Sports Entertainment). In addition to Quebec, Coalision Inc operates offices in the US, France and Hong Kong. The company has a total of 13 Lole stores in Canada, US, France and Switzerland.

Square One is the largest shopping centre in the province of Ontario. 1.6 million sq.ft, with 350+ stores. The property is owned by OMERS and managed by Oxford Properties. The shopping centre is anchored by Walmart, Target, Empire Theatres. Other notable tenants include Apple, Coach, Michael Kors. Aritzia, Victoria Secret, Harry Rosen, Zara…etc. Oxford just completed an $84 million renovation to the property; the common areas, restrooms, escalators and entrances have all been upgraded. The mall looks stylish and feels vibrant. Further, Oxford recently announced that Holt Renfrew will open in 2016. Construction is now underway and this project has been estimated at $320 million.

As always, there is someone who I’d like to thank and bring attention to. I have known Janet Eden for quite some time (longer than either of us would like to admit). Janet works for Oxford and is the person with whom I negotiated Lole’s transaction. I am sure that my opinion is not unique when I say that it is always a pleasure to deal with Janet. She is extremely personable. Janet is also a tough cookie who demands and has earned the respect of her many colleagues and acquaintances.   

While I cannot let the cat out of the bag just yet, stay tuned to our website, for an announcement regarding the location of Lole’s 1st Canadian outlet location.  

For all of the latest on Lole, please visit their website at www.lolewomen.com.