No matter how bad the news gets for Research In Motion, a juicy rumour—no matter how far fetched—seems to be all it takes to get investors interested again. Earlier this month, the scuttlebutt was that co-CEOs Mike Lazaridis and Jim Balsillie would be turfed (that, of course, never happened). This week, it was gossip that Samsung Group was interested in buying the BlackBerry maker (that didn’t happen, either), although over at the Globe and Mail, Michael Babad offered up three reasons why that one was pretty unlikely from the outset: 1) RIM’s outlook is so uncertain that any potential buyer would wait to see if the stock will drop further before making an offer; 2) the board is being proactive with planned board restructuring and strategic review; and 3) Samsung is not known for big takeovers. Poor, spurned RIM—once the belle of the ball, now surpassed by better-looking upstarts. Read the entire story [Globe and Mail] »
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How running became the city’s collective obsession
Last year I turned 30, broke up with my long-term boyfriend and moved into a tiny apartment for one. The domestic vision I’d had for my future—marriage, a semi-detached fixer-upper, kids with endearingly arcane names, homemade pie—dissolved overnight. When I tried to reformulate a picture of my future, alone, my imagination failed. Usually when I’m lonely or stressed out, I run. I’ve been running non-competitively for 10 years. It eases my anxieties more effectively than anything else I’ve tried: psychoanalysis, yoga, eBay buying sprees, binges on HBO series, even anti-depressants. When I run, for one blissful unmeasured hour, my brain stops spinning.
Joe Fresh’s anticipated New York opening excites tourists, not analysts
Joe Fresh is making the move to New York this fall, but some skeptics suggest that the Mimran dynasty may have to pull back to Canada sooner than anticipated. Analysts seem mixed on the potential success of yet another fast fashion retailer. The Financial Post notes that companies who moved south of the border (among the fallen are Danier, Harry Rosen, Tristan, La Senza and Brown’s Shoes) haven’t always been welcome, while the New York Times highlights a boom in tourist traffic around Joe’s chosen 5th Avenue and 43rd Street location.
Lululemon plans to continue success with more expensive clothes made from silver
This Silver Luon tank is $78 (Image: Lululemon)
Yesterday, we reported that Vancouver’s Lululemon was killing its third-quarter results, with profits doubling and Web sales up 200 per cent. Today, the Globe revealed how the company plans to continue its success: clothes made from silver. The new Silver Luon yoga line, which launched right before the holiday retail frenzy, is being touted as stink-free thanks to being made partially with silver yarn (the clothes themselves are black). Apparently silver has smelly-bacteria-fighting powers that busy gym bunnies want so they can grab a latte or go shopping after working out without worrying about stinking up the joint. And since Silver Luon stuff is made with real silver, Lulu can charge a whack more for it: a jacket is $168 (a similar non-silver version is $118) and a tank top is $78 (regular versions are $52). We expect a premium platinum line any day now.
• Lululemon customers, investors walk path of devotion [Globe and Mail]
Lululemon makes lots of money, thanks to Oprah
The relaxed-fit pants are an Oprah favourite
Canadian athletic wear powerhouse Lululemon saw its profits almost double in the third quarter of this year, thanks in part to the big O. Oprah featured the brand’s relaxed-fit pants on her “Favourite Things” episode last month, which probably helped shares increase by a whopping 77 per cent and on-line sales increase 200 per cent over last year. Analysts are saying that the company has plenty of room for growth, and that’s just what it’s doing. Plans are set for up to 25 new stores in North America next year and two slated for Australia; it’s also considering opening up shop in Asia.
• Lululemon profit rises steeply, sees more growth [Reuters]
• Online sales have Lululemon clicking [Globe and Mail]
Lululemon for tweens coming to the Eaton Centre
In time for the pre-holiday gift-giving frenzy, Lululemon is opening a store in the Eaton Centre targeted at young girls. Cue mother-daughter yoga classes in coordinating outfits. Called Ivivva, the brand’s clothes are much like Lulu’s athletic wear but with girlish touches (the jackets and hoodies have “emergency” hair elastics tied around the zipper), a neon colour palette and a different logo. The prices are close to those of adults’ gear: a hoodie is $79, track pants are $68, and shorts are $34. The store will be open this Friday (October 8) and stay open until December 31.
Downtown Yonge BIA’s domination plans continue apace
(Image: Carsten Keßler)
The Downtown Yonge Business Improvement Area, the group that helped boost the not-quite-NYC-no-matter-how-hard-it-tries Yonge-Dundas Square, is looking to expand its territory as far south as Adelaide and as far north as Charles. The proposal is opposed by some local business owners who would prefer not to face the annual fee of 14.5 cents per square foot and who are worried that expansion would spell corporate gentrification for the area. “If we get too big and too slick, we turn into a Gap,” John Anderson, the long-time owner of Morningstar at Yonge and Isabella, told the National Post. “We turn into Queen Street between Beverley and Spadina, where there isn’t a Canadian operation on the street.”
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HBC’s Olympic mittens are the it item at the Games
HBC's Olympic mittens went from torchbearer uniform to best-seller (Photo by Delaney Turner)
While the ubiquitous red mittens haven’t reached the status of the blue Roots berets everyone wore during the ’98 games (which, in retrospect, were kind of a fashion don’t), the Hudson’s Bay Company’s woolly mitts have become the must-have item for the Vancouver Games.
The Star interviewed a bunch of Torontonians who are praising how the mittens, which are made in China, make them proud to be Canadian. News 1130 is getting people in a frenzy by declaring that last week’s shipment of one million mittens was the last, and once they’re gone, they’re gone. The Vancouver Sun dismissed rumours that the gloves are in short supply (there’s an entire wall of them at The Bay at Fairview Mall and a pile on the second floor at the Yonge and Queen location, for those who are looking). CTV even reports that the mittens’ popularity has already led to counterfeits.
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Olympic merchandise naming rights resulting in unsportsmanlike behaviour
The sporty offerings from Aritzia (tank), The Bay (top mitts), Roots (hoodie), Lululemon (bottom mitts) and Birks (cufflinks)
The Winter Games are fast approaching, and VANOC, which oversees Olympic naming rights, isn’t happy with the slew of Olympic-themed merchandise hitting the market—nor are official sponsors, like The Bay and Birks. Such companies as Roots, Lululemon and DSquared2 are offering Canadian-themed wares by carefully avoiding using off-limits logos (like the rings) and words (like “Olympics”), and the vitriol is flying.
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Aritzia’s Olympics collection hits it out of the park
These sweatshirts are among our favourite pieces from the Park Life collection (Photo courtesy of Aritzia)
Aritzia’s fast-selling Olympics-themed collection, Park Life for Aritzia, is the most stylish of the Games-inspired lines we’ve seen. The faux-fur trapper hat ($60) with clever buckle chin strap is an ideal winter accessory for proud Canadians. The crewneck sweatshirts ($48) printed with aboriginal imagery and the tees ($45), socks ($12) and zip-up sweaters ($100) printed with logos from Olympic Games past are all fun without going overboard on patriotic symbols.
Lululemon launches Olympics-timed line with worst name ever
Official Olympics mittens from The Bay
Vancouver-based Lululemon has launched a new line of apparel two months before the Olympics called Cool Sporting Event That Takes Place in British Columbia Between 2009 and 2011 Edition. The clumsily titled collection consists of hooded sweatshirts, tuques and T-shirts representing Canada, the United States, Germany and Sweden, the four countries Lulu thinks will represent the most international visitors for the Games.
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