Canadian retailer Tokyo Smoke is coming to several malls Ontario this fall, with stores opening in seven Cadillac Fairview properties like Toronto’s Eaton Centre and Ottawa’s Rideau Centre, as well as suburban shopping centres like Sherway Gardens and Fairview Mall, reports Retail Insider.
More normal than normal
VP of retail Dave Bolan said partnering with Cadillac Fairview came from strong relationships between senior management at both companies. And in a move that shows just how much cannabis buying and consumption has been normalized, they also recognized a strategic opportunity to reach mainstream one-stop shoppers.
“Large-scale shopping centres present a unique opportunity for the brand to extend its reach to a larger demographic of consumers,” he said. “Having a strong presence in Cadillac Fairview shopping centres will allow Tokyo Smoke the opportunity to penetrate a diverse mix of legal shoppers and employees, seven days a week.”
Boon for real estate, too
It’s also good for commercial real estate, which has seen countless businesses shutter in the pandemic.
“Certainly, malls need fresh tenants too that can draw in weekly traffic to displace bankrupt retailers,” said retail writer and expert Bruce Winder. “As Tokyo Smoke is owned by Canopy Growth, which in turn is owned (in part) by Constellation Brands, this chain offers some stability as well.”
What’s next
Tokyo Smoke’s first shopping centre store has already opened in Windsor’s newly redeveloped Devonshire Mall, with more to come this October.
