US-based footwear behemoth DSW Inc. Has adjusted its corporate surname amid a strategy change that will certainly see brand-new innovations too as brand-new stores open across Canada. We spoke with the company’s Canadian president about a three-year plan for expansion in the Canadian market.
You are watching: What does dsw shoe store stand for
As of march 19th, DSW Inc. (an abbreviation of ’Designer shoes Warehouse’) has changed its name to ‘Designer brands Inc.’ between a shift reflective the the company’s recent acquisition the the Camuto Group, and plans to broaden its shoe Warehouse and The Shoe agency nameplates in Canada. In conjunction through its corporate name change, Designer brands will readjust the that company ticker symbol native “DSW” to “DBI,” effective at the begin of trade on April 2, 2019, which has been approved by the new York share Exchange.
Mary Turner, chairman of the company’s Canadian division, explained how Designer brand Inc. Has huge plans to grow its off-price work in Canada by opening new stores strategically, while additionally launching brand-new rewards programs, an enhanced e-commerce site, and also the eventual development of in-store experiences such as nail bars, practice insoles, shoes repair and other initiatives.
Designer brand Inc. Is already the 3rd largest shoes retailer in Canada, listed Ms. Turner, and also is the second-largest growing retailer in Canada. The firm has much more market share in the women’s footwear group than any retailer in Canada, and also it ranks 3rd for sales of children’s footwear (which is now available in every one of DSW’s Canadian units). Expansion has to be incremental, she explained, by getting market re-publishing organically over the past several years. DSW entered the Canadian market in 2014 as soon as it gained a 49.2% stake in city Shoes Inc., which operated the now-shuttered town Shoes chain the stores and also The Shoe agency and shoe Warehouse banners.
Plans space in ar over the next three years to open roughly 50 an ext stores in Canada, which could include around 20 large-format DSW Designer shoes stores and 30 or so places under the company’s shoes Warehouse and The Shoe firm banners. Real estate tactics will be various for the larger-format and smaller save concepts.
Large-format DSW stores will certainly target markets exceeding 400,000 world with its shop that regularly exceed 20,000 square feet each. The optimal size for The Shoe company and shoes Warehouse stores will certainly be roughly 4,000 square feet each, as a comparison.
Designer brands Inc. Will certainly look to open an ext of that is large-format DSW shop in Canada, i m sorry will encompass an development into the Quebec industry for the very first time. There are at this time no stores for any of Designer brand Inc. In the province, and the agency is now able to make the move after upgrading its business systems including POS systems and its digital platforms. “We now have actually a roadmap because that Quebec,” after entering Canada almost five years ago, she said.
Quebec could likewise be the target for Shoe Warehouse and The Shoe agency nameplates, which Designer brand Inc. Will look to open up in secondary markets with much less than 50,000 residents. The exact same strategy will certainly be rolled out Canada-wide as the agency strategically opens stores to further penetrate the Canadian market with the smaller-format stores.
See more: How To Say Dad In Cantonese Chinese And How To Say It? 爹哋 (De1 Di6
The company’s shoe Warehouse and The Shoe agency units act together a “last mile solution” for the footwear retailer, Ms. Turner explained, by exhilaration as distribution points because that click-and-collect and online orders while serving sectors that might not otherwise assistance a larger DSW storefront.