Analysts expect Canada’s $2.15 billion luxury industry to be bolstered as U.S. companies begin expanding across the border.
High-end retailers, such as Saks Fifth Avenue and Nordstrom, expand into Canada. According to John Sullivan, CEO of Cadillac Fairview and owner of Eaton Centre, adding Saks to the Nordstrom, Hudson’s Bay, Kleinfeld, and Top Shop mix in Eaton Centre “will allow us to go after the higher end luxury shopper in a much more targeted way. I think we’ll be able to draw from perhaps customers and areas that in the past, we haven’t been.”
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