Update: Metrotown and Oakridge Mall will be home to the lower mainlands first Target locations.
Early this morning it was announced that Target acquired Zellers, the neglected stepchild of the Hudson’s Bay family, and plans to convert the majority of its existing stores over the next couple of years. However, don’t expect this to happen soon, the earliest I’ve heard is 2013, that is when approximately half the Zellers will be converted to Target stores.
Currently there is only one Zellers location in Vancouver, Oakridge Centre. However, don’t be surprised if this never gets converted to Target store at all. Rumour in the retail industry has it that Oakridge Centre would like to bring in an upscale anchor tenant, think Holt Renfrew. Even Nordstrom’s name is being thrown around, however with The Bay right beside it, I don’t know if that’s a good fit. Consumers would love it, but it could cripple The Bay.
For the most part it looks like consumers are excited about the pending arrival of Target to Metro Vancouver and Canada as a whole.