Holt Renfrew leaving Ottawa after 78 years
JANET WILSON More from Janet Wilson
Published on: August 28, 2014Last Updated: August 28, 2014 6:18 PM EDT
http://ottawacitizen.com/news/local-...after-78-years
Mark Derbyshire has thanked Ottawa customers for their years of patronage, but the Sparks Street store will be closing in January.
After 78 years in the capital, Holt Renfrew, once the undisputed leader in Ottawa’s luxury retail market, has announced it will close its doors at 240 Sparks St. in January.
Seventy-two employees — many of whom have worked for the company for decades — will also be out of work.
Mark Derbyshire, president of Holt Renfrew, said Thursday the decision to close the flagship store was a difficult one. He thanked Ottawa’s loyal customers, who have included politicians, diplomats, well-heeled socialites and business executives.
“Today, Holt Renfrew informed employees that the Ottawa location will close at the end of January 2015. This was a difficult business decision as the Ottawa store continues to perform well and we and our employees have valued being a part of Ottawa’s retail environment.”
While Holt Renfrew announced the closing of its stores in Ottawa and Quebec City, Derbyshire also noted an expansion plan in other markets, including a new store in Mississauga and Montreal and updates on its flagship stores in Vancouver and Calgary. They also unveiled plans for a Holt Renfrew Men store on Bloor Street in Toronto.
“Holt Renfrew explored a number of options for its businesses . . . however, it was ultimately concluded that Holt Renfrew’s enhanced specialty luxury business model requires a significantly larger store footprint in any target market and a deep assortment across a wide array of its core brand partners,” the company said.
Holts, which had not updated the two-storey Ottawa location in many years, faced looming and stiff competition with the arrival of Nordstrom’s next spring and a flurry of other top fashion chains opening in the Rideau Centre and Bayshore Shopping Centre.
Canada’s retail landscape has been littered with fallen retail giants over the years: Creeds, Simpson’s, Brettons and Eatons. Two years ago, Holts celebrated its 175th birthday — a major achievement given a volatile retail environment — with much fanfare and a series of mobile pop-ups and special guests. Its announcement on Thursday of a $300-million investment in key markets — especially in Western Canada — is all about sharpening the focus for its luxury business model in areas with the greatest potential for targeted growth.
Melissa Shabinsky, co-founder of Revolution Organics, said she was dismayed to learn about the Ottawa store’s closing.
“I grew up with Holt Renfrew as the destination in Ottawa for glamour and style. The store not only brought us access to some of the most sought-after fashion, jewelry and beauty brands, they were also a big part of our community fabric, supporting so many local causes, including our Fairy Godmother program. They provided makeup free of charge for our teens for many, many years and most recently hosted an amazing shopping night for our Bust a Move team to raise funds for the Ottawa Regional Cancer Foundation,” Shabinsky said.
Holt Renfrew began as a hat shop in Quebec City in 1837 by William Samuel Henderson. In the 1860s, the store was named Renfrew & Marcou and earned a reputation for its sophisticated furs. In the early 1900s, the company expanded to ladies’ and men’s fashions and renamed itself Holt Renfrew & Co. after opening its first store in Toronto and, by 1910, had opened others in Montreal and Winnipeg. The Ottawa department store opened in 1942 on Queen Street and moved to its current location on Sparks Street in 1977.
In 1986, the company was bought by Galen and Hilary Weston, and today has more than 2,600 employees. It expects overall levels of employment to grow through 2017 to support its national expansion plans.
“Holt Renfrew is confident in its strategy and growth plans. We look forward to continuing to enhance our position as Canada’s destination for luxury and style,” said Derbyshire.
But it’s not all doom and gloom along Sparks Street, Canada’s oldest pedestrian mall. Les Gagne, executive director of the Sparks Street business improvement area and mall authority, said Thursday that an announcement is forthcoming about a top retailer moving into the 25,000-square-foot space formerly occupied by Zellers.
“People will be really pleased. It’s a good fit for us in terms of the brand and quality of product.”
He says he hopes the decision by Holt Renfrew to leave is a short-term one and that the Canadian retailer will return at some point down the road.
“Ottawa is a fairly affluent city. It’s sad to see a name like that leave. It’s unfortunate that they couldn’t have gone somewhere else. There’s no doubt that 240 Sparks has seen better days. Looks like they arrived late in coming to the party at the Rideau Centre,” says Gagne, referring to that shopping centre’s $360-million expansion.
Prev
Linear Mode
