The Metro Vancouver Retail Thread

[officedweller]

or the older stores (which seem cozier, more inviting):


https://www.google.com/url?sa=i&url=...AAAAAdAAAAABAc

This is the Cross Iron Mills Outlet store:


https://www.harryrosen.com/en/stores?section=outlets

[SpongeG]

Muji Guildford has shut down
I was wondering last week cause most things said Guildford store only 50% off and the last few times there it was feeling elike there was no stock.
The store was never busy like the others. It's a huge space to fill.

[dreambrother808]

Originally Posted by SpongeG

Muji Guildford has shut down
I was wondering last week cause most things said Guildford store only 50% off and the last few times there it was feeling elike there was no stock.
The store was never busy like the others. It's a huge space to fill.

Muji is a rip-off outside of Japan. I don’t know why anyone pays those prices for that mediocrity.

[Migrant_Coconut]

Same people who always line up for overpriced ramen in the middle of a storm. The weeb is strong with this city.

[madog222]

Originally Posted by Migrant_Coconut

Same people who always line up for overpriced ramen in the middle of a storm. The weeb is strong with this city.

Or halfway through a mall for Uncle Tetsu.

[s211]

Originally Posted by officedweller

https://retail-insider.com/retail-in...tos-interview/

I better be safe and cut up my credit card.

[NewfBC]

Originally Posted by dreambrother808

Muji is a rip-off outside of Japan. I don’t know why anyone pays those prices for that mediocrity.

Originally Posted by Migrant_Coconut

Same people who always line up for overpriced ramen in the middle of a storm. The weeb is strong with this city.

No.. the statement above is correct. Muji charges a huge 'Canada Tax' on the items they sell here. Other Muji locations in the country have closed as well. The novelty will wear off.

Uniqlo better watch this as well.. example - selling UT shirts for $29.90cad when they're 1500 yen ($12.76cad) in Japan.

Ron.

[jollyburger]

Originally Posted by NewfBC

No.. the statement above is correct. Muji charges a huge 'Canada Tax' on the items they sell here. Other Muji locations in the country have closed as well. The novelty will wear off.

Uniqlo better watch this as well.. example - selling UT shirts for $29.90cad when they're 1500 yen ($12.76cad) in Japan.

Ron.

Uniqlo has a 76 billion dollar market cap. Muji is like 4 billion.

It probably matters more how competitive their pricing is compared to similar products in Canada or the US. Japan's pricing is pretty irrelevant unless they are worried about a huge black market of t-shirts coming in from Japan or Canadians flying to Japan to buy those t-shirts.

They are probably better off with the huge margins on UT shirts at current volumes than trying to sell a larger 2-3 volume (throw in increased shipping, unsold inventory that has to be sold at a discount). Their current pricing might be a $30 for people who want it first since almost everything online rapidly gets discounted to the $20 and $12.90 price point if they aren't selling.

[dreambrother808]

Originally Posted by jollyburger

Uniqlo has a 76 billion dollar market cap. Muji is like 4 billion.

It probably matters more how competitive their pricing is compared to similar products in Canada or the US. Japan's pricing is pretty irrelevant unless they are worried about a huge black market of t-shirts coming in from Japan or Canadians flying to Japan to buy those t-shirts.

They are probably better off with the huge margins on UT shirts at current volumes than trying to sell a larger 2-3 volume (throw in increased shipping, unsold inventory that has to be sold at a discount). Their current pricing might be a $30 for people who want it first since almost everything online rapidly gets discounted to the $20 and $12.90 price point if they aren't selling.

Yes, Uniqlo is very competitive in Canada. Muji is not. The Muji I went to in Helsinki was empty and overpriced as well. Uniqlo is busy wherever I’ve gone.

[SpongeG]

Outside of the stationary section, that Muji store was pretty much always empty, the clothing section never had anyone looking, the clothes just don't fit the Surrey aesthetic or Canada, plus they carried very limited sizes, all pretty small, I think the largest pant waist for men was 34.

Chachi's at metrotown has also closed up, I've never tried nor seen anyone going there to order, they look really $$$ for a sandwich.

[jollyburger]

Originally Posted by SpongeG

Outside of the stationary section, that Muji store was pretty much always empty, the clothing section never had anyone looking, the clothes just don't fit the Surrey aesthetic or Canada, plus they carried very limited sizes, all pretty small, I think the largest pant waist for men was 34.

Chachi's at metrotown has also closed up, I've never tried nor seen anyone going there to order, they look really $$$ for a sandwich.

Seems like they are struggling all over the world.

The European arm of Japense retailer Muji has filed for administration, in the latest high-street business insolvency.

The shops will remain open, and a pre-pack deal is expected which would save the business. Muji has six stores in London. It is known for its minimalist Japanese designs, for both clothes and home goods.

https://www.standard.co.uk/business/...the%20business.

[Changing City]

Originally Posted by jollyburger

Seems like they are struggling all over the world.

The problems seem recent. This is from January. "Ryohin Keikaku, the parent company of global lifestyle brand Muji, has achieved a remarkable financial milestone, with its operating profit soaring to a historic high of 13.8 billion yen ($95.3 million) for the quarter ending November. This nearly threefold increase is a result of strategic price adjustments and the relaxation of China’s stringent COVID-19 policies.

The company’s operating revenue saw a significant 19% jump, reaching 162.9 billion yen, while its net profit escalated by 2.5 times to 9.8 billion yen. A crucial element in this financial surge was the company’s aggressive expansion strategy, which included the inauguration of 28 new stores in Japan, representing about 40% of its annual target for the country.

In East Asia, particularly China, Ryohin Keikaku’s sales were notably buoyant, contributing to approximately 30% of its operating revenue. This region’s 4.3% growth in same-store sales is attributed to a mix of local product development and the resurgence of economic activities post-lockdown.

Domestically, the company witnessed a 12.7% increase in overall same-store sales, which encompassed e-commerce. Products such as cosmetics and kitchenware saw high demand. The strategy of raising prices on select items by an average of 25% in January 2023 significantly enhanced the company’s operating profit margin, elevating it by 4.8 percentage points to 8.5%." [source: Jakota Index]

And the UK move is more of a restructuring of the business: “Following the restructuring, Muji will receive significant investment from its main shareholder and has plans for new stores and an improved e-commerce offer in Europe.” [City a m]

[jollyburger]

Originally Posted by Changing City

And the UK move is more of a restructuring of the business: “Following the restructuring, Muji will receive significant investment from its main shareholder and has plans for new stores and an improved e-commerce offer in Europe.” [City a m]

In 2023 90% of their revenue came from Japan/East Asia. Europe and North America were 5.3% so I think if they are planning on sticking it out then losing less money is their only goal at this point. Though it seems like they want to do another big splash...

On the other hand, in North America and Europe, our stores until now have been very small, and MUJI’s philosophy and product selection have not been fully communicated. We need to launch large flagship stores and promote understanding of the MUJI concept.

https://www.ryohin-keikaku.jp/eng/ir/

[SpongeG]

I heard they shut all their stores in California a while back too. I like them, they have made their prices cheaper since opening here, some are quite big price drops. The food was never really consistent, sometimes you could find it but other times no stock.

I noticed that Esprit has not opened on Robson, the poster or wrap is tattered and not looking like its being taken care of, is the store not going to happen? anyone know of anything? On their US website it only shows one store in California.

[NewfBC]

Originally Posted by SpongeG

I heard they shut all their stores in California a while back too. I like them, they have made their prices cheaper since opening here, some are quite big price drops. The food was never really consistent, sometimes you could find it but other times no stock.

I noticed that Esprit has not opened on Robson, the poster or wrap is tattered and not looking like its being taken care of, is the store not going to happen? anyone know of anything? On their US website it only shows one store in California.

The Muji food selection here was a joke compared to Japan. Chocolate covered strawberries and marshmallows.. lol

https://www.timeout.com/tokyo/news/t...rations-060321

This is an extreme example.. but all Muji stores in Asia have large food sections.

Ron.

[SpongeG]

Yea i went to the Ginza muji it was amazing, fresh produce, sandwiches meats, spices, candies etc.

I imagine a lot of is Canada's restrictive food imports. I loved the Chocolate Peanut clusters from Muji, but they haven't had any in years.

Hopefully Muji Canada makes it and will stay. The Guildford store when it opened was the largest store in Canada until one in Toronto expanded. I wonder if Zara could take over the space in Guildford.

[officedweller]

Half a block of Robson Street's retail strip sold in landmark deal
https://dailyhive.com/vancouver/robs...er-retail-sold



Fresh St. Market to open on West 4th Avenue in Kitsilano
https://dailyhive.com/vancouver/fres...-grocery-store

NW corner West 4th & MacDonald.

[theKB]

Not totally Vancouver-centric but could maybe see something pop up in the Vancouver market - HBC along with Amazon and Salesforce as minority stakeholders have put forth a bid to buy Neiman Marcus and combine it with Saks Fifth Avenue.

https://financialpost.com/news/retai...s-fifth-avenue

HBC can't maintain their own stores or pay suppliers, so why not buy another storied brand to run into the ground! I guess there is a silver lining in that somehow Amazon and Salesforce will be involved and naturally some deep pockets there.

Edit - I wonder considering LVMH brands will be a major part of Oakridge, if HBC will opt to put Neimans there as a way to enter Canada with the brand...

[connect2source]

Originally Posted by theKB

Not totally Vancouver-centric but could maybe see something pop up in the Vancouver market - HBC along with Amazon and Salesforce as minority stakeholders have put forth a bid to buy Neiman Marcus and combine it with Saks Fifth Avenue.

https://financialpost.com/news/retai...s-fifth-avenue

HBC can't maintain their own stores or pay suppliers, so why not buy another storied brand to run into the ground! I guess there is a silver lining in that somehow Amazon and Salesforce will be involved and naturally some deep pockets there.

Edit - I wonder considering LVMH brands will be a major part of Oakridge, if HBC will opt to put Neimans there as a way to enter Canada with the brand...

Interesting, I thought Neiman Marcus ( Needless Markups as we called it when I lived in the states ) was on the verge of oblivion recently but combining with Saks might make sense since they're both closing locations and experiencing YOY sales declines. I doubt NM would succeed in Canada any better than Saks, perhaps a token location at Oakridge, packed with luxury concessions might appeal to the demographic and do better than an HBC there.

[officedweller]

So maybe Cadillac Fairview is holding out for Neiman Marcus, over Simons, for Pacific Centre?