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Ogilvy, A Famous Canadian Department Store, Was Bought?

2011/8/27 15:31:00 125

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Not long ago, the Weston family of Searl, Toronto, Canada (Selfridges) acquired the prestigious Ogilvy department store in Montreal to further strengthen its strong position in the high-end retail industry.

Searl rich group bought Ogilvy department store from a private investment group, and the transaction price and other details have not yet been announced.

The acquisition was a bit surprising because the private investment group had been in charge of Ogilvy for about a year and spent about $100 million. Observers speculate that the ownership group of 4 people (but not 1 of whom are retailers) is too big for business management to be depressed.

　 Ogilvy department store

Anthony Stokken, partner of Toronto retail consultancy Anthony Russell&Associates, said Searl bought the group.

Ogilvy Department store It is perfectly reasonable, and after nearly 25 years of stagnation, it brings hope to it. "This is the first acquisition of the year," Stokken said. Now that Ogilvy is one of the best retailers in the world, if the new owner can finally make Ogilvy department's performance 1/10 of their performance in the Searl rich store in the UK, then the acquisition is worth it.

Paul Gallagher, chief financial officer of Searl rich group, said in a visit: "takeover" Ogilvy Department stores are in line with the group's acquisition and operation strategy in the main market for landmark luxury stores. We believe that Montreal is one of the fashion centers in the world. It is consistent with many characteristics of our company.

Searl, a group from Quebec 174 years ago. Hat At the beginning of the store, it now owns and operates many landmark stores, including Ireland's Brown Thomas, Searl flex, and Holt Renfrew of Canada. Last November, it bought De Bijenkorf, a luxury department store chain in Holland, from the Maxeda retail group.

Ogilvy department store in Montreal has been the center of the city since its establishment in 1866. The famous Bohemian crystal chandelier is still on the first floor of the store. A bagpiper performs every day for customers who shop at noon, and this tradition has been extended since 1950.

The 5 storey retail store is Canada's first store designed by store store, and the floor space is allocated to an independent boutique. It is also the first department store in North America to import and display modern bikini. {page_break}

Ogilvy department store is a mixed retailer. It only has 1/4 retail space on the roof, sells cosmetics, accessories and some high-end goods, and rents to other French fashion houses such as LV. These companies are more willing to own their own sites.