When Bed Bath and Beyond filed for bankruptcy and moved out of its SmartCentre location on Pinebush Road, Greg Dyer knew there was an opportunity.
Sensing a significant lack of Canadian representation in the retail market, Dyer is now part of a team backed by Doug Putman, the founder of Ancaster-based Putman Investments, that’s bringing 10 Rooms + Spaces storefronts to Ontario and 21 across the country.
Putman is known for injecting life into struggling retailers like Toys“R"Us and Babies“R"Us Canada, Sunrise Records and hmv in the UK, and has tabbed Dyer as the president of his latest retail venture. Dyer had previously been the general manager of Bed Bath and Beyond.
“We’re very Canadian focused,” Dyer said of Rooms + Spaces.
“We bring a Canadian point of view rather than a US point of view, which people have had to live with in the current retail market.”
The new store will feature a broad range of products for every room in the home, from kitchen gadgets and towels to unique items like bed wedges, cherry pitters and charcuterie sets.
It’s not only important to highlight Canadian vendors, but it’s equally critical that these vendors understand how Canadians live and the shifting market around them, Dyer says.
As the economic climate steers people toward cost savings and even downsizing, Room + Spaces is gearing its inventory toward that mindset.
“Some of the important categories like sheets and towels will be equal or better quality and the cost will be lower than where Bed Bath and Beyond played,” Dyer said.
“We’re excited about serving space challenged homes with options like folding storage, folding chairs and items for pantries. Condos are going up and people are downsizing as they're getting older, while some younger families may not have the square footage.”
Dyer anticipates that roughly 85 per cent of the vendors will be Canadian, with the remaining 15 coming from the United States. That’s the opposite of Bed Bath and Beyond, he says.
Room + Spaces has also reimagined the shopping experience, making it more interactive and providing its customer base with a chance to see what purchases will look like in various locations within their home.
“We've gone down a path of make the shopping experience fun,” Dyer said.
“People will see a lot more interactive merchandise, be able to have fun, get ideas and see displays. It'll be a place people see what could be accomplished in making a house a home.”
The retailer will open locations in BC, Alberta, Saskatchewan, Ontario and Newfoundland and is expected to provide 500 jobs.
For more information on Room + Spaces visit roomsandspaces.ca.
