Results tagged “thorncliffepark”

If you were a retailer looking to launch a new department store chain in the early 1960s, the discount market appeared to be the way to go. While Toronto did have one-off discounters (Honest Ed's) and lower-priced annexes of existing retailers (Eaton's), businessmen looked at the prosperity of American discounters like E.J. Korvette and saw potential for setting up similar chains in Canada. For several years after Towers opened its first store in Scarborough in the fall of 1960, discount chains with varying degrees of longevity made their debut around Metropolitan Toronto. One of the splashiest openings belonged to Sayvette, who promised to shake up the department store sector. In its two decades of retailing, Sayvette went from grandiose dreams and promising new retail approaches to dead weight on the balance sheet of one of the country’s largest food merchants. Along the way Sayvette experienced little profitability, speculation over its ownership, unrealized expansion plans, and a constant search for where it fit in the retail landscape.