QUEBEC CITY, Feb. 26, 2016 /CNW Telbec/ - It was with great enthusiasm that Peter Simons, President of Simons, presented the flagship of the next generation of Simons stores at a press conference held today. "See this as a sign of our determination to build a world-class business in Quebec City," Peter Simons declared. Galeries de la Capitale, owned by Oxford Properties and Canada Pension Plan Investment Board, is where Simons' first test store will be built. "This is the very first store where the concept of ecology will be ubiquitous," the President asserted.
A unique test laboratory at Galeries de la Capitale
Doubling its current surface area, the future Simons store will occupy a total of 80,000 sq. ft. With its solar panels and recharging stations for electric cars, among other things, this will be the brand's greenest project, both in Quebec and in Canada. "The goal is to achieve a zero net footprint," Peter Simons proudly explained.
Why call it a next generation store? "Besides standing out from an ecological standpoint, the new Simons store will provide a unique and improved customer experience through new digital and interactive technologies. These will initially be tested here, before being exported to our other stores," said the President, describing an evolving concept that listens to consumers and keeps up with new trends.
A jewel of Quebec entrepreneurship, the Simons banner now stretches from sea to sea. "It's a matter of real pride for us to watch the brand grow in Quebec City, where it all started," said Peter Simons. This announcement also confirms the creation of jobs and the use of many local resources, including the Quebec City architectural firm LemayMichaud which has collaborated in producing the most recent Simons stores.
Investments of $50M
Scale models were presented at today's press conference to give a better idea of the scope of the construction work, which will begin second half of 2016 and continue into 2018. Galeries de la Capitale will set up around 10,000 sq. ft. concourse to connect the central courtyard to the future Simons store, creating around 23,000 sq. ft. of prime rental space in the process. "Investments in the order of $50M will be required to carry out the project," asserts Serge Rossignol, General Manager of Galeries de la Capitale. "We are very pleased that Simons has chosen the Galeries as the home of its new concept, another great way to enhance the visibility of Quebec City across Canada," concluded the General Manager. He also mentioned that the new space will be handed over to Simons, ready for building, in preparation for an opening in the spring of 2018.
Simons was founded in 1840 by John Simons as a dry goods store in Quebec City and has since built its reputation on being an accessible and inspired fashion brand. Simons is led by brothers Peter and Richard Simons, who carry on the family legacy and brand's commitment to cultivating creativity and building meaningful relationships with staff, partners and customers. Simons offers an extensive and fashion-forward collection of its own exclusive and innovative private label brands for men and women, complimented by a selection of national brands and an edited collection of international designers, making it well known for its exceptional selection of merchandise for everyone. Simons also carries home fashions for the bedroom, bathroom and kitchen. All Simons' stores are compelling, original environments that inspire customers through fashion, art and architecture. For more information please visit simons.ca
About Oxford Properties Group Inc.
Oxford Properties Group is a global platform for real estate investment, development and management, with approximately 2,000 employees and over $37 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company's portfolio includes approximately 56 million square feet of office, retail, industrial, and multi-family and hotel properties. Oxford is the real estate arm of OMERS. For more information please visit www.oxfordproperties.com.
About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2015, the CPP Fund totalled C$272.9 billion, of which C$34.3 billion represented real estate investments. For more information about CPPIB, please visit www.cppib.com.
SOURCE Galeries de la Capitale - Simons
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