Luxury candy retailer Sugarfina has secured its first standalone store in Canada, taking the first steps in its multi-million dollar expansion plan.
The Los Angeles-based company received $35 million in financing to fund expansion from private equity firm Great Hill Partners. Sugarfina will open at Metropolis at Metrotown in Burnaby on November 1, Retail Insider has learned. It is the first in a widespread expansion that will see freestanding stores in Canada and internationally in the Middle East, Europe and Asia.
Sugarfina currently operates across Canada in all five of the country’s Nordstrom outlets.
The Metrotown space is 1,098 square feet on the mall’s ground floor. Tony Flanz of Think Retail represented Sugarfina in its deal with Metropolis and Metrotown owner Ivanhoe Cambridge.
The brand is seeking 600 to 1000-square-foot retail spaces in major regional malls. Sugarfina has confirmed that it is looking to operate as many as ten locations in Vancouver and Toronto.
Think Retail will be overseeing its expansion. Think represents several regional retail chains located in major Canadian cities, including handbag and apparel brand Fossil and Scandinavian lingerie brand Change.
