Eataly, the international Italian food emporium that marries both supermarket and eatery, will open its first ever Canadian location in Toronto as part of a partnership with Loblaw owners, George Weston Ltd.
Oscar Farinetti, Eataly’s Founder, Co-Owner, and Chairman, told The Globe and Mail that he, along with the Weston family, had found a location in central Toronto that could be open as soon as next year. George Weston Ltd. would reportedly take up 52 percent of the real estate and retail project, with Eataly taking the rest.
“We’ve been looking for a location for a long time,” he added to the news source. “It’s coming for sure.”
So why this partnership? The Westons’ may be looking to take on a more “upscale” approach to its Toronto-area holdings. With stiff competition from retailers like Whole Foods and Pusateri’s locally, The Globe and Mail cites that the family is likely looking to give itself a competitive edge as gourmet and health foods continue to gain market share.
Weston has been studying the Eataly concept since 2009, the Globe and Mail states, back when Farinetti had been approaching the Canadian market with trepidation as he lacked a partner who could help him develop a Toronto location. Reportedly, Farinetti has been working with the Westons since at least early 2015.
For Eataly, opening a Toronto location would be part of building on the success of stores like its 50,000-square-foot store in lower Manhattan, which opened in 2010 and attracted more than $85-million a year in sales. Eataly has since opened a store in Chicago, with planned locations in Boston, Los Angeles, and another in Manhattan.
We also recently reported on an Eataly World food-based theme park, which if you haven’t seen yet, is definitely worth a look. As more information on Eataly’s developing plans is announced, keep looking back to DeliMarket News.
