From songs to thongs -- from CDs to double Ds; The former iconic HMV retail space at Burrard and Robson streets will be home to Victoria’s Secret’s flagship store by spring.
The renowned bra and underwear giant from America will open its first full store in B.C., featuring the more risqué “pink store,” as well as beauty products over two levels of shopping space, Morguard property manager Bob Nicholson confirms. Construction begins Sept. 4 and they’ll be busting open their doors for a grand opening May 2013.
“I just think it’s going to be a huge addition to downtown. There’s been a lot of negative news downtown and if Victoria’s Secret opens, it is a significant validation,” said Nicholson. He sees Victoria’s Secret as the best option for the space next to Apple, who also looked at it.
The 35,000-square-foot space will be getting a facelift, which includes a reduction of the upper mezzanine level to open up the main level.
HMV was unable to keep up with the previous high rent of $80 per square foot coupled with a loss of sales as shoppers moved away from CDs and turned to online retailers. But market analyist David Ian Gray said while it is a lot of square footage for Victoria’s Secret to take on, they may not be looking for profits alone.
“This is sort of their splash in Vancouver so they may be willing to take a little less money in return for a brand presence,” said Gray.
Gray sees the new Victoria’s Secret as part of Robson Street’s transition.
“There’s sort of a major revolution going on right now on Robson, where a lot of older retailers are moving out and new ones [are] coming in,” he said. “A lot of people are mourning its demise, but it’s still claiming up a lot of major retailers.”
Other world-wide chains have been moving into the downtown area as well, including unisex fashion giants J Crew and soon-to-open Top Shop. Rumours of Nordstrom taking over the Sears location at Robson and Howe Street have yet to be confirmed.
