FOSSIL CONTINUES ITS CROSS-CANADA EXPANSION, SEEKS NEW RETAIL SPACE
American watch and accessory brand Fossil continues its cross-Canada expansion. It is actively seeking retail space as it continues aggressively opening stores in various cities. Fossil recently opened five stores in just over one month, and it plans to operate 33 Canadian locations by the end of this year. It also just opened its Canadian flagship on Bloor Street in Toronto, which is a prototype for future locations.
Fossil is especially interested in new retail space in Toronto, Calgary and Vancouver. The retailer currently has three Calgary stores, as well as four in Vancouver and six in Toronto. Fossil seeks retail space in super-regional malls, as well as downtown street-front spaces. For its full-priced stores, Fossil ideally wants space between 1,200 to 1,500 square feet with a 23.5+ foot width. Its outlet stores are twice as large, ideally occupying about 3,000 square feet.
In April, Fossil opened stores at Masonville Place in London, Ontario, Lime Ridge Mall in Hamilton, Quartier Dix30 in Montreal, and an outlet at The Outlet Collection at Niagara in Niagara-on-the-Lake, Ontario.
Later this year, Fossil will open stores at the Montreal Premium Outlets, Market Mall in Calgary, Polo Park in Winnipeg, as well as an outlet at the Tanger Outlets in Ottawa. In May of 2015, Fossil will open at Vaughan Mills, just north of Toronto.
Fossil’s new 2,650 square foot Toronto flagship showcases the company’s new, upscale and modern design prototype. It boasts a street-front presence at the Holt Renfrew Centre, 50 Bloor Street West. Fossil replaces Aldo, which abandoned the location several months ago. Although considered Canada’s flagship, Bloor Street’s Fossil measures slightly smaller than the Yorkdale Shopping Centrelocation, with about 2,670 square feet.
Fossil operates more than 550 corporate stores around the world, with net sales in excess of $3 billion.