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De Beers Move First of Several?


De Beers, the luxe jeweller with stores in exclusive locations like New York's Fifth Avenue and London's Old Bond St., chose Vancouver as the location of its first Canadian shop. (And it made Christmas shopping a lot more painful.) We asked two local retail analysts about its move into the market and got some interesting perspective. "I imagine De Beers is looking at multiple locations across Canada," DIG360 Consulting's David Ian Gray tells us. "Often the first location is simply the first appropriate spot to come available." That said, what makes Vancouver a little extra special is the perception [often over-estimated] of the power of the wealthy Asian traveler segment in this city and the desire to build brand recognition, he says. Retail analyst Peter Hume tells us that since this location is just one of only nine in North America, it just reinforces what many of us already know--that Alberni/Burrard is an area where high-end retailers are concentrating.