It was only earlier this week when we reported that The Bay was stepping up to Holt Renfrew in the battle to become Toronto’s top department store. Now it seems that Holt’s has seen The Bay’s bid and raised it: the retailer announced a major expansion to its Yorkdale location today.
Apparently, this past year saw record profits for Holt’s, with sales increasing by 10 per cent. (Despite these economically-cautious times, it seems, dedicated Holt’s shoppers are still willing to shell out thousands of dollars on high end designers like Donna Karan and Oscar de la Renta.)
To help celebrate the record year, Yorkdale will be getting an (almost) brand-spanking-new store. The revamped and expanded Holt Renfrew will offer 40 per cent more retail space — from 51,000 to 70,000 square feet — and will anchor the new luxury wing of the mall. It’ll be completely redesigned to feature unique Holt Renfrew in-store events and to offer a broader assortment of customers’ favourite brands and labels, as well as new ones like Rachel Zoe, Tom Ford, and Kate Spade.
The new store will be ready just in time for Christmas shopping in 2012, and customers will continue to be able to shop during the construction phase.