Investment of more than $75 million: Simons will open two iconic stores in Toronto in 2025

Maison Simons announced Thursday the opening of two emblematic stores in Toronto in 2025, at the Yorkdale Shopping Center and the Toronto Eaton Centre, two essential destinations in Canada which attract tens of millions of visitors each year.

Already present at the Square One shopping center in Mississauga, Simons is arriving in the heart of the Queen City, with the opening of not one, but two stores. This will result in a major investment of more than $75 million for the Quebec company which will generate 400 new jobs. This expansion will allow La Maison Simons to increase the company’s annual sales by 15%, which currently total more than $650 million.

“We are talking about the two Holy Grails of retail in Canada. These are the two best shopping centers in the country in terms of performance. It is a project that has been in preparation for several years and which will see the light of day next year, with openings a few weeks apart, in the fall of 2025,” revealed to Newspaper Bernard Leblanc, president and CEO of La Maison Simons.

D‘two birds with one stone

The stores will be 118,000 square feet in the case of Yorkdale and approximately 110,000 square feet, spread over three levels, at the Toronto Eaton Centre, which is the largest shopping and office complex in the city center

But why two at once?

“Life is like that sometimes! In fact, continues Mr. Leblanc, we are taking over part of the Nordstrom premises which were left vacant with their departure from Canada. “It’s an opportunity that presented itself and we’re very excited.”

Indeed, the American chain announced last year that it was withdrawing from the Canadian market where it had been present since 2014 by closing its six Nordstrom stores and its seven Nordstrom Rack stores in Canada.

Proximity to customers

For Simons, who had been looking for some time to get closer to his Toronto clients, the opportunity was a dream come true.

“We see that customers are back in store. Online commerce remains, but it is the strength of both that makes the difference today. As we are very customer-centric, being close is something that is also very important,” added Mr. Leblanc.

This announcement comes after a record year in terms of turnover for the family business founded in 1840, in Quebec.

Over the past five years, and including this announcement, La Maison Simons has made investments of more than $300 million, with the improvement of its digital infrastructure, the establishment of a unique automated distribution center in North America North, in Quebec, as well as with the recent inauguration of a store in Pointe-Claire, near Montreal, and another in Halifax, Nova Scotia.

The Toronto openings will be supported by marketing campaigns. Each store will have a unique signature, according to tradition.

With these new openings, Simons will have 19 branches to its credit.

The Quebec retailer, specializing in fashion and home decoration items, remains on the lookout for other business opportunities that could lead it to eventually intensify its presence in the Vancouver market.

Yorkdale Shopping Center

• Leasable area: 2.1 million square feet
• Number of annual visitors: 18 million
• Number of stores: 270
• Owners: Yorkdale is co-owned by Oxford Properties and Alberta Investment Management Corporation (AIMCo) and managed by Oxford Properties Group.

Toronto Eaton Center

• Leasable area: 1.9 million square feet
• Number of annual visitors: more than 50 million
• Number of stores: 255
• Owner: Cadillac Fairview