Toronto businessman Russell Oliver, aka ‘The Cashman’, has opened a luxury goods retail store in downtown Toronto. It marks the first time that the well-known public figure has been in the retail business since 1991, and his store already seeing tremendous success since opening last month. We interviewed Mr. Oliver last week inside of his new store, where he’s now spending much of his time after previously focusing on multiple purchasing/wholesaling outlets.
The new 1,000 square foot Oliver Jewellery retail space is located at 620 Yonge Street, just north of Wellesley Street, and is less than 500 metres/1,500 feet south of prestigious Bloor Street West. The store features refurbished luxury products including designer handbags and jewellery, in an intimate retail space prominently located at the northwest corner of St. Joseph Street. We’ll discuss it in more detail below.
We interviewed Mr. Oliver about the new store, as well as the interesting history of how he got started in the retail and gold wholesaling business. In 1971, Mr. Oliver had set aside funds to attend Dalhousie University’s law school in Halifax but instead of registering for classes, he used the money to buy out a small jewellery business on the third floor of a building near the intersection of Queen Street and Yonge Street in Toronto. Being upstairs, business was slow due to lack of awareness/foot traffic, so Mr. Oliver hired youth to hand out fliers promoting his business. Business immediately picked up, and Mr. Oliver soon recognized the ability to drive sales through promotions.