Holt Renfrew to close Edmonton store
Canadian luxury retailer Holt Renfrew will close its Edmonton location, as part of its ongoing strategy to focus on a large-format store model, the company announced this week.
“The decision to close our smallest regional store in Edmonton was difficult, and we did not take the decision lightly,” said Robert Zeidel, Holt Renfrew Chief Operating Officer, in a news statement.
“This store is led by a great team that has performed well and we’ve cherished our history in the community.”
The store will continue operations throughout the year and is expected to officially close January 11, 2020.
The announcement comes close to a year after Holt Renfrew announced a $400 million investment to renovate and expand its store network across Canada, as well as its online platform.
The company is currently updating its newly inaugurated Holt Renfrew Ogilvy in Montreal, as well as doing significant renovations at Toronto's 50 Bloor Street West flagship store and at Toronto's Yorkdale location.
Meanwhile, a renovation and expansion is nearly complete at its flagship Vancouver store.
Holt Renfrew, which was once commonly referred to as the “Barneys of Canada”, has faced increased competition in Canada’s luxury market in recent years due to the entry of American retailers.
Luxury retailer Nordstrom entered the country in September of 2014, with its first store at CF Chinook Centre in Calgary. Not long after, fellow luxury fashion retailer Saks Fifth Avenue followed suit, opening its first two Canadian stores in February 2016.
Founded in 1837 as a modest hat shop, Holt Renfrew has been owned by the Weston family since 1986.
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