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Cadillac Fairview announces Gumdrops as the 2008 ARC Award Winner
The Cadillac Fairview Corporation Limited is proud to present the 11th annual ARC Award (Achievement in new Retail Concepts) to Gumdrops, an urban wet weather boutique based out of Vancouver, British Columbia.
Peter Sharpe, President and CEO of Cadillac Fairview along with leading retailers from across Canada were on hand at the elegant Palais Royale Ballroom to honour retail innovation and present several awards. Since 1997, Cadillac Fairview has honoured the most exciting and innovative new retailers in Canada with the ARC Award. It is considered to be the most prestigious award in the industry, and this year’s winner Gumdrops, a chic new retailer based out of Vancouver was the recipient of the coveted award and $50,000 prize.
“This evening is primarily about the celebration of new retail that has entered the market and captured consumer interest. These are the individuals who change consumer behaviour, create new retail categories and influence the way we live and shop,” said Mr. Sharpe. The four finalists this year were all quite impressive, making the decision a difficult one for the judges in selecting a winner.
The idea for Gumdrops, the brainchild of entrepreneur Shanda Jerrett’s surfaced shortly after she moved from Australia to Vancouver. She realized that with the frequent rainy weather, a fashion-forward retailer that would allow people and even pets of all ages to stay dry and be stylish would have appeal.
Jerrett, only 28 year’s old, has embraced Vancouver’s rainy weather by declaring, “If you can’t beat ‘em, join ‘em.” She opened Gumdrops in October 2007 and is a one-stop shop for funky and stylish boots, umbrellas, raincoats, hats and other weather-friendly essentials like backpacks and laptop cases.
In addition to naming the ARC winner, Cadillac Fairview also celebrated the other 2008 finalists chosen from a field of 27 entries. The finalists included high-end lingerie retailer Agent Provocateur in Vancouver; Blackline Studio’s, an upscale Toronto tattoo parlour and Umbra, a world leader in designing and producing innovative home decor products.
Honours retail visionary Harry Rosen and awards scholarship to Ryerson Retail Management student
The ARC Awards Gala also presented the Visionaries in Retail Innovation Awards. Cadillac Fairview paid tribute to the inspiring story of retail powerhouse Harry Rosen, Executive Chairman of Harry Rosen Inc. Mr. Rosen was among the very first retailers in Canada to truly embrace the importance of advertising, the customer experience and the power of creating a unique-to-market brand. Founding his first menswear store in 1954, Harry Rosen now boasts 16 stores in seven major markets across Canada, and enjoys a whopping 40 percent of his market segment.
In creating the Visionaries in Retail Innovation Award, Cadillac Fairview also hopes to spark the next generation of retail innovators through a $5,000 scholarship to encourage new talent and ideas. The 2008 recipient is Ailicis Lawrence, a graduating student from the School of Retail Management at Ryerson University in Toronto. Ailicis will graduate this spring and was chosen based on her high GPA, earning her a place on the Dean’s List and being a finalist for the Ryerson Gold Medal Award.