Luxury Canadian retailer Holt Renfrew has announced plans to open lower priced stores called hr2. The first hr2 store will open its doors in March 2013 in Montreal. Another store in Ontario is scheduled to open later that same year.
According to news reports hr2 will sell lower-priced and diffusion lines from many of the designers currently sold in Holt Renfrew, as well as exclusive collections. Holt Renfrew’s president Mark Derbyshire called the new hr2 stores “a unique and compelling new retail concept that just does not exist here today.”
With stores including Target and Nordstrom coming to Canada next year, this is the perfect time for Holt Renfrew to branch out and appeal to a new market. We can’t wait to see the first hr2 store.