Simons defies recession and plans to take over Canada

Simons, one of Canada's oldest family-owned retailers is determined to defy retail industry recession by expanding to extend the Simons brand across Canada. The 175-year-old company based in Quebec City will enter the British Columbia and Ontario markets and expanding its presence in Alberta over the coming months.

Simons will not spare any expense for its expansion plans as it plans to spend up to 200 million dollars over to t four years to open eight stores. It says the move is intended to boost its annual sales base of more than 350 million dollars, reports ‘Chronicle Journal’.

CEO Peter Simons says he doesn't feel any pressure to make hasty moves: "You don't think in next-quarter increments when you're a private company of five generations," he said in a recent interview. "You think in 25-year increments."

Likewise, the Canadian fashion veteran is a firm believer in the power of e-commerce, as he expects the company's online sales — which, to date, make up less than 10 percent of its total sales — will grow.

Retail analyst Randy Harris of Trendex believes Simons' gradual expansion will make it a "national powerhouse" in the Canadian apparel market, noting that "A lot of retailers, while they're worrying about Nordstrom and Saks, have got to be equally worried about Simons."