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Vancouver fashion retailer Aritzia is set to open a 40,000-square-foot flagship store in a space at CF Pacific Centre formerly occupied by Nordstrom.
The luxury fashion retailer already occupies a space at Pacific Centre, but said in a Wednesday statement that it has secured the location for a "flagship boutique" at the intersection of Robson and Howe streets in 2027.
Founded in Vancouver in 1984, Aritzia's popularity has exploded south of the border in recent years, and its annual warehouse sale in Vancouver remains a popular draw that attracts thousands of shoppers.
A retail analyst and professor says Aritzia's new boutique will only fill part of the space formerly occupied by Nordstrom — and more retailers could fill it out.
WATCH | Aritzia plans flagship store in Vancouver:Many have wondered who will be taking the old Nordstrom space in downtown Vancouver location. As Johna Baylon reports, homegrown brand Aritzia has announced it is moving in."They're only taking on 20 per cent of the space," said David Ian Gray, an instructor at the Capilano University's School of Business. "It was far too big even for Nordstrom. It's being divided up.
"I think by signing Aritzia — world-class Canadian retailer, by the way — I think what this does is it will either help them firm up whoever they're in negotiations with, or draw more prime target companies in."
Gray says it could mean a new lease on life for downtown Vancouver after Nordstrom departed in 2023 and Hudson's Bay closed its doors earlier this year.
"By having the empty Hudson's Bay, Nordstrom spaces, it creates sort of a gap, a void in the market down there for people who are walking on the street," he said.
"It's really good for adjoining businesses in that area, and just for people who are spending their time downtown working or living."
WATCH | What's next for the former Hudson's Bay in Vancouver:The future of the former Bay department store in downtown Vancouver is in question once again. After mall owner Ruby Liu acquired three leases to former Bay properties in BC. Liu has bid for more than two-dozen other properties across Canada, although the specific locations haven't been made public. Vancouver City Councilor Mike Klassen says the city is still waiting to see the pitches for the location.Aritzia said in its statement that it plans to include a "casual-yet-elevated dining concept" in the store, which will be located across four storeys.
"Vancouver is where our story began, and we’re thrilled to bring an even more impactful Aritzia experience to the heart of the city with our new Pacific Centre Flagship,” says Aritzia CEO Jennifer Wong in the statement.
Gray said Aritzia is among Canada's top retailers, occupying an "affordable luxury" niche that's becoming popular in other markets like the U.S.
"The product's great. They control everything from design to production, all their stores and their e-commerce and they're just doing such a great job," he said.
"And I think we forget sometimes that we have homegrown Canadian brands that can compete with anybody and they are one of those."
The annual Aritzia warehouse sale remains a popular draw in Vancouver. (Ethan Cairns/CBC)