Score one for Vancouver! The world’s first Versace Home flagship will open this fall in Gastown.
Located at 310 West Cordova Street, Versace Home will carry furniture as well as tiles, lighting, bathroom fixtures, bath accessories, porcelain, textiles, fabric, decorative pieces and wallpaper. The store will occupy about 2,000 square feet of retail space, in a building measuring about 3,000 square feet. Versace Home replaces consignment store deLuxe Junk, which operated out of the space for over three decades.
Versace’s current Vancouver location, which opened in 1987, is a licensed shop-in-store within multi-brand luxury retailer, Leone. For those unfamiliar, Leone occupies two floors and about 25,000 square feet at the Sinclair Centre, located at 757 West Hastings Street (corner of Howe Street).
There are currently only three Versace Home stores in the world, located in Milan, Beirut and Dubai. A number of Versace stores also carry selected items from the Versace Home Collection. Needless to say, opening a location is Vancouver is a major coup.
Versace plans to open as many as five Canadian stores within the next several years, according to a source familiar with the company. Versace expects its new Canadian locations to break even within a year of opening, and expects them to be profitable within two years. We’ve been told that Versace plans to open a free-standing Vancouver flagship store, as well.
Vancouver has a history of Versace store locations, besides its current boutique inside of Leone. In 1993, the company opened North America’s first Versus by Versace store, occupying about 2,500 square feet at the southwest corner of Burrard and West Georgia Streets. In 1995, a franchised Istante by Versace store opened at 769 Hornby Street, across from the Vancouver Art Gallery. Both closed several years after opening.
Stay tuned for more exciting retail announcements from RETAIL INSIDER, here on Vancity Buzz.
Feature Image: Wikipedia