Eataly recently announced a partnership with Selfridges to open an Eataly location in the iconic London-based department store. Following this pursuit, sources report that Eataly may similarly enter into the Canadian market through Holt Renfrew, another Galen Weston-owned brand that includes Shoppers Drug Mart and Loblaw.
A few weeks ago, Eataly's CEO Luca Baffigo Filangieri announced plans to locate the eatery/grocery shop within Selfridges starting in September 2016, reported Reuters. He also indicated the store's intensions to aggressively expand and for an IPO in 2017.
"But more important than numbers is that we want to list once we're present in all major cities around the world," Baffigo Filangieri told Reuters.
Sources say several locations in central Toronto are being considered as future Eatalys. While some sources say locations could open as shops-in-stores within Holt Renfrew, others say they are standalone, reported Retailer Insider.
If Eataly does enter via Holt Renfrew, it could be in direct competition to Saks Fifth Avenue's (NYSE:HBC) plans to open luxury food halls in Canadian stores. There are plans to build a food hall on the concourse level of the Hudson's Bay building on the corner of Yonge and Queen Streets in Toronto. Saks Fifth Avenue, acquired by Hudson's Bay Co. last year, plans to add seven new stores in Canada.
Eataly has 27 locations worldwide, currently two in North America. One shop is 58,000 sq. ft. in Manhattan and the other is 63,000 sq. ft. in Chicago. The retailer hopes to open new stores in Los Angeles and New York City, and possibly Philadelphia and Washington, D.C., in the next few years.
-See this Retail Insider article
-See this Reuters article
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