Retailer Simons Crashes Canada, One Door at a Time
La Maison Simons Inc. had been nestled in Quebec City for 159 years before fifth generation leader Peter Simons successfully expanded the retailer across the province.
But opening stores all the way to Vancouver is proving trickier for the president of the family-controlled business.
Simons is searching for prime locations in Toronto, Calgary, and Vancouver as a new wave of foreign chains chases the most attractive retail spaces. And the privately held company can’t tap into the markets to finance its heavy investments amid rising borrowing costs.
The retail institution well known in Quebec for its unique mix of cheap-chic private labels and pricier designer lines must make a name for itself west of the Ottawa River. Outside its home province, it operates only one store, at the West Edmonton Mall.