One-third of foreign retailers enter Canada through one Toronto mall: report

One of the most coveted retail destinations in Canada isn’t in the heart of the country’s biggest city, but instead surrounded by major roadways well north of Bay Street, where a number of foreign retailers have chosen to make their debut.

Yorkdale Shopping Centre was picked by more than a third of retailers entering Canada last year, notes Retail Insider in a recent report.

“From the inexpensive to luxurious, Yorkdale has been Canada’s entry point for many foreign retailers for a number of years,” it says.

It cites a number of outside brands to take up space in the giant mall, soon to span two million square feet, including Telsa Motors, Kate Spade and Mulberry in recent years.

Yorkdale is adding an extra 300,000 square feet to its property, including the largest Nordstrom store in the Greater Toronto Area (GTA), set to open in 2016.

Sales at the mall surpassed $1 billion between June 2012 and May 2013, and are forecast to reach $2 billion by 2018. That would make it North America’s top-selling mall, assuming of course the Americans don’t come up with something bigger before then.

Experts say Yorkdale’s location, which gives it good access to the entire GTA, and its ability to attract and retain high-end brands, gives it an edge over other destinations. Free parking also helps, and the valet service if you feel like a little pampering.

“Yorkdale is unique,” says Doug Stephens, founder of consulting firm Retail Prophet .

“It's one of the country's very few super-high-end luxury malls. That means two things; it's in line with the trend toward the polarization of wealth and incomes in Canada, with incomes growing at the high end and stagnant in both the middle and lower quintiles. It also makes for a more unique shopping experience because there are brands at Yorkdale that shoppers won't find in other malls, like Louis Vuitton for example.”

Canada’s shopping mecca announced last month that it will soon be home to Canada’s first stand-alone Jimmy Choo and Versace boutiques and the first Moncler location. New retailers this year include Bulgari, Mont Blanc and Canada’s first Vince Camuto store.

If you can’t afford most of these brands – or won’t be caught dead in them – Yorkdale has its share of more affordable shops and restaurants too.

For example, at Yorkdale, you can still buy a pair of Roots sweatpants, get a bag of Kernels Popcorn, and sit outside the Louis Vuitton store, picturing yourself as its latest pitchwoman Michelle Williams, while you pretend to fall in love with a handbag.