TIP TOP CONFIRMS FOUR NEW STORE OPENINGS IN QUEBEC
Lance Itkoff, CEO of Grafton Apparel Ltd., is sounding remarkably energized these days. “We’re opening our first four Tip Top stores in Quebec in more than 20 years! Our recent strong performance across Canada, based on doubling down on our event business, has led to this growth. These are exciting times.”
Tip Top, an 80+ store division of Grafton Apparel, is a Canadian retailer specializing in men’s dress-up apparel for more than 100 years. The initial two Quebec stores are opening now, with a third and fourth confirmed for early spring 2024. The first opened on October 19 in Montreal at Galeries d’Anjou; the second in Quebec City will open November 2 at Galeries de la Capitale. Two more will open for Spring ’24. During Tip Top’s previous tenure in Quebec, two of the chain’s top-performing stores were in that city, renowned for its style and culture.
“We’re excited to be returning to the Quebec market, the fashion capital of Canada,” confirms Itkoff. “There’s no one else in Quebec doing what we do. Our new concept stores, extremely successful across Canada, focus on outfitting men for the special events in their lives. As we like to say: ‘Perfect Moments, Perfectly Dressed.’ Along with our real estate partner Oberfeld Snowcap, we’re continuously looking for new development opportunities across the country. Within Quebec, we’ve targeted upwards of 20 malls, and are in a position to continue growing as the right spaces become available.”
Tip Top continues to roll out its prototype stores and is renovating existing locations to reflect the brand’s reimagined look and feel. The interiors attract shoppers with a bright and airy vibe featuring the Tip Top Event Shop, which is disrupting the status quo by providing consumers with a one-stop shop for event solutions. Suits are available in both slim and modern fits with “extended aisle” sizing to ensure sizes are always available and wedding parties can coordinate seamlessly. Jackets and pants are offered separately in 20+ colors, allowing customers to find a near-custom fit off-the-rack for the price of a rental or less. On-site tailoring is also available, and online business has grown to a volume share in the high teens.
Itkoff confirms a merchandising strategy that has proven enormously successful. “Most of our product is under our G Grafton label but we also sell brands such as Michael Kors, DKNY, and Daniel Hechter. We offer packages: a suit, shirt, tie, and pocket square starting at $299 Canadian. We offer slim and modern fits. Although we sell more black suits in a week than all seasonal colors combined, we’ve done well with jade, burgundy, silver, sand, and bone. Clearly, we’re siphoning off market share from formalwear rental companies and from other suit retailers.”
In addition to focusing on event solutions and building business wardrobes, Tip Top has been a corporate partner of Fight to End Cancer benefiting The Princess Margaret Cancer Foundation since 2014. They’ve raised over $1.1 million over the last nine years, with a 2023 goal to raise that total to $1.5 million.
Lance, good to hear you’re targeting the younger consumer with a buy now wear now concept in a strong array of colors. Congrats on the store’s success!