Quote:
Originally Posted by officedweller
Remember what market you're dealing with - - Woodward's went upscale and went into bankruptcy as a result.
- Eatons went upscale and went into bankruptcy as a result.
- Sears tried to preserve eatons as an upscale brand and failed.
- Even in the 1980s in Ontario, The Bay tried to preserve Simpsons as an upscale brand and eventually folded it into The Bay.
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Yes, but apparently there are people on this forum who believe that Vancouver can sustain tons of high-end retail because of all the "wealthy foreigners" who live here. I don't know either way. Personally, I would hate to see a another high-end retailer with unattainable merchandise occupy the Sears building. We already have Holt's and expanding Louis Vuitton etc. Macy's would be great though, because average people can afford to shop there.
I don't know about Woodwards, but Eaton's was in trouble long before they tried going high-end. From what I understand, Timothy Eaton's sons treated the company like a cash machine and ran it into the ground. By then it was too late.