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New Holt Renfrew confident of Calgary
Mario Toneguzzi,Everything about the new Holt Renfrew flagship store in downtown Calgary speaks to the company's confidence in the city's future as Calgary moves out of its economic slump.
Spanning three floors, the store is located at 4th Street S. W. between 7th and 8th avenues and was designed by worldrenowned New York architects Janson Goldstein. The new 151,000squarefoot store officially opens on Wednesday, tripling in size from its current location in the CORE (TD SquareCalgary Eaton Centre).
"The Calgary customer here has really demonstrated their interest and desire for this product," said Debra Kerr, who is in her seventh year as general manager of the downtown store and has been with the company for 21 years.
"We try our best to create an environment that they're wanting. And they've told us, 'We want a worldclass shopping environment.' "
The existing store will close Saturday at 6 p. m. with the new location opening Oct. 7 at 9:30 a. m. The space was formerly occupied by Sears.
The flagship store will anchor the multimilliondollar redevelopment of the CORE, which includes a glass skylight spanning over three city blocks.
Besides stunning architecture and elegant interior design, the Holt Renfrew flagship store will offer 69 new brands, 32 exclusive to the Calgary market.
There are several shopinshop locations throughout the store, including one dubbed Ladies Designer Shops(Gucci, Chanel, Michael Kors, Akris, Prada), Menswear Shops (Giorgio Armani, Dolce Gabbana, Prada and Thomas Pink)and Main Floor(Hermes, Louis Vuitton, Tiffany, Links of London and Prada).
The flagship store will also house 38 brands of women's designer footwear in 5,[url=http://www.sport.fr/sponsoring/uggpascher.html]bottes ugg femmes[/url],400 square feet of space. It also offers four enhanced personal shopping suites, a concierge service and valet parking.
"Calgary has been, and was, and continues to be a very strong market for Holt Renfrew," said Caryn Lerner, president and CEO of the retailer.
Holt Renfrew has had a Calgary presence since 1953. It has been located at its current store since the fall of 1990.
The new Holt Renfrew store and the CORE project will be a catalyst for Calgary's City Centre Plan, said Cindy Turnquist, marketing director of 20 VIC Management Inc., which is responsible for the redevelopment, leasing and management of the CORE project.
"The presence of a worldclass retailer such as Holt Renfrew will provide an opportunity for growth of upscale fashion retail in the downtown core and will further solidify the CORE's position as Calgary's premiere shopping destination," she said.
Turnquist said Brooks Brothers will occupy 20,000 square feet over three levels of what is currently Holt Renfrew and is set to open in spring 2010. Leases are being finalized with other upscale retailers on the balance of the space, she said.
"The CORE is currently 85 per cent leased and the project continues to be on the radar screen of national and international retailers," added Turnquist.
Maggie Schofield, executive director of the Calgary Downtown Association, said the organization is excited about the opening of the Holt Renfrew flagship store.
"Their store will be magnificent and a real showpiece. It speaks to the significance of the downtown core and what people really look for in a retail experience in the downtown," said Schofield.
The redevelopment of the CORE is a real sign that Calgary is still a great place for retailers to be, she added.
After a lull in consumer spending this year, Calgarians are set to open their wallets again in 2010 with retail spending expected to balloon by more than $5 billion in the next four years.
The Conference Board of Canada predicts retail sales in the city will fall by 6.6 per cent this year to $20.4 billion but will rebound with annual increases of 3.9 per cent in 2010, seven per cent in 2011, 7.5 per cent in 2012 and 6.5 per cent in 2013.
The conference board said improving economic conditions will lift consumer confidence, allowing Calgary's consumers to start spending their money again.