Exciting news for Bloor-Yorkville! Two of our iconic area retailers announced yesterday that they will be joining forces. Harry Rosen, a Canadian leader in luxury menswear retail announced that it has entered into a joint venture agreement to operate and expand DAVIDS Footwear stores.
Just a few steps away from each other, the Bloor Street stores have both been prime retail mainstays in the in Bloor-Yorkville area. Harry Rosen and DAVIDS were founded in Toronto more than 60 years ago and quickly established themselves as experts in their fields. Offering a high-service proposition and a luxurious product assortment, both retailers have continued to thrive over the years.
Both the Rosen and the Markowitz families have a long history in Bloor-Yorkville (see our Davids Blog Post for the fantastic story that brought their family to our area), bringing a sense of community to this collaboration.
“We’re thrilled to have entered into this partnership agreement with the Markowitz family,” says Larry Rosen, Harry Rosen Inc.’s Chairman & CEO. “Our companies share a similar legacy of internationally recognized, family-run businesses that offer world-class product and exceptional service. We believe we can help DAVIDS grow into a national chain that provides a compelling point of difference to the department stores.”
“We are very excited about the ways in which Larry Rosen and his executive leadership team can help us grow nationally, leveraging each other’s strengths,” says Richard Markowitz, the grandson of DAVIDS founders Louis and Julia Markowitz. Richard will occupy the role of DAVIDS’ President in the new joint venture.
“This partnership has been years in the making, says Richard. “My family has long felt a synergy between our two organizations. DAVIDS and Harry Rosen share the same ethics, values, and approach to business. We are both strongly committed to our people, our partners, our customers, and our product.”
DAVIDS will continue to run as an independent organization, keeping its brand identity in-tact, as well as retaining key talent. Harry Rosen leadership will act in an advisory role to help the retailer establish a national identity.
“Simply put, this is a perfect fit,” says Larry Rosen. “We believe there is room in Canada for a well thought out, well-curated, specialty footwear store that caters to clients who want a higher level of service and selection.”