It’s dog eat dog in the retail world and it looks like one of Toronto’s most successful shopping streets is getting some competition. Bloor Street has become known to Toronto natives and tourists as Toronto’s go-to for luxury shopping. Not only is the street home to Holt Renfrew, but the shopping area also houses luxury brands and designers such as Louis Vuitton, Chanel, Gucci & more.
Retail Insider reported that Hazelton Lanes, a neighbouring upscale shopping complex in Yorkville, could be getting a luxurious makeover. Among the stores that the retail complex hosts today are TNT & Whole Foods. However, Hazelton Lanes landlord, First Capital Realty, is in the talks with some of the world’s top luxury retailers, including Salvatore Ferragamo, to bring Hazelton Lanes the upgrade it needs to compete with other stores in the area.
The video below is a presentation of what First Capital Realty hope to come of Hazelton Lanes.
What do you think of the new development? Do you think Toronto needs more luxury shopping? I, for one, think developing another shopping area near Bloor Street, will help build tourism and bring more clientele to the Yorkville area. It could be a win-win for all!
Source: Retail Insider