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Toronto’s Booming Luxury Shopping Market

Apr 12 2017

Toronto is becoming the panicle of luxury with a great culinary scene and high-end stores opening almost every six months including famous European brands like Reiss and Links of London. Along with Saks, Nordstrom opened two locations in 2016 and a third is underway for Sherway Gardens. Luxury brands have been gaining popularity even since the wholesaling through Holt Renfrew began a few years back. This increased the demand of luxury products in Toronto and the demographic wasn’t all high income individuals.

With the increase in these specialty stores, there is a fear that the distinction between department stores might be fading. To keep up with the trends and stay competitive, stores are offering services that set them apart from other high-end stores. Nordstrom has a concierge, a men’s clubhouse, a café, a lounge, and a restaurant and bar. The Saks Fifth Avenue location has, Lena, a themed restaurant offering South American cuisine.

Toronto has noticed an increase in tourism for several reasons, one of which is shopping. High-end malls such as Yorkdale, which lure tourists, offer services to promote a luxurious lifestyle such as valet and concierge.



Source: Toronto Observer

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