One of the most distinguished names among luxury furniture retailers, the Art Shoppe, has announced that they are closing down their 70, 000-square-feet Castlefield Design District showroom.
Founded in 1936, the international retailer of luxury furniture and accessories has announced that they are shutting down their showroom as part of strategic reassessment. According to Mark Bannon, Director of Furniture Solutions for Tiger Capital Group (the company conducting the liquidation sale on behalf of the Art Shoppe’s ownership team) the brand is now rethinking strategies, with a focus on online sales. “Like so many disrupted sectors, the luxury furniture business is entering a new phase in which smaller-format, Internet-based showrooms are on the rise. The Art Shoppe is a powerful brand with the potential for another chapter,” said Bannon.
Next steps and going digital
According to Carolyn Offman, a member of the family and the current ownership team, the retailer is currently “re-evaluating how eCommerce, demographic shifts and real estate trends should shape our future strategy.”
The wide-ranging furniture collections available at Art Shoppe include everything from high-end furniture (living room sofas, accent chairs, tables, beds, cabinets) to exclusive luxury accessories such as accents, fine art, lighting, rugs and throw pillows. For more than 8 decades, the Art Shoppe has been one of Toronto’s go-to places for high-end furniture pieces. Very well known among interior designers, celebrities and luxury furniture collectors, this shop has become one of the most iconic brands when it comes to high-end furniture, and, although we are sad to see them leave, we’re also excited to see what the future will bring for them. Will restrategizing introduce the brand into a new era? We’ll have to stay tuned and see.