Strategic partnerships and new ventures, the cure for ailing Canadian fashion house Harry Rosen?

Canadian fashion group Harry Rosen is looking for strategic partners to enter new joint ventures that give its ailing sales a boost. The rise of e-commerce and U.S. direct competitors expansion into Canada have taken a toll on the high-scale menswear company.

To revert the course of happenings, Larry Rosen, chief executive officer of Harry Rosen, is looking to team up with other players through new joint ventures and acquisitions, reports the ‘Globe and Mail’.

The masculine fashion chain is teaming with some of its suppliers to run their standalone stores for them. A recent case in point was Italian luxury fashion brand Ermenegildo Zegna, which stores are now operated in Canada by Harry Rosen’s executive team. The Canadian apparel company already runs one in Vancouver, which it will remodel; it will open a second one this summer in Toronto, near the Harry Rosen flagship store.

The Canadian retailer is also joining forces with another supplier, Dutch men’s fashion producer Atelier Munro, as well as starting talks with other vendors.

Another avenue for growth Rosen is exploring is that of acquisition. In 2017 the upscale menswear stores operator acquired high-end Davids Footwear stores.

“In a period of disruption, you can’t have normal growth strategies,” said Rosen in an interview with the Canadian journal. “We’re an aggressive company. Not growing for two years is enough – we’re going to grow this year. We’re going to force growth going forward.”

Privately held, Harry Rosen saw sales tumble 15 to 20 percent last year, according to the company’s CEO. “Given the amount of disruption in our segment, we’re actually pleased” with the results, he said.