Following its dismal performance of late, American retailer Target has announced its plans to expand to Mexico and Canada as early as 2013. Target is the second largest discount retailer in America behind only Walmart which has performed successfully in Canada since its arrival in 1994. It's about bloody time, I say. The only problem for City Boys like me is that to get to an actual Walmart, which I love despite its vilified perception, one has to commute a bit out to the suburbs. Foreseeably, this would be the case also with Target seeing that rent is much more affordable outside the downtown core.
In addition to this, British fashion retailer Topshop is also in talks with Canada's premiere department store The Bay to strike a distribution deal. The deal has not yet been finalized, but this is very exciting news to anyone who has ever shopped abroad at Topshop or Topman (its menswear branch). For those of you who don't know of the retailer, think H&M but better quality and cutting. The quality does come at a premium though. And seeing that H&M has done so well in Canada in turning a profit even in the current economic climate, Topshop should have no difficulty surviving in the Canadian market with a proper business plan. This possible partnership is one of several ventures The Bay is planning to amp-up its brand to compete with upper-echelon retailers like Holt Renfrew (Canada's equivalent to Saks Fifth Avenue or Selfridges). Who's excited? Me!