Privateequity company Champlain Monetary Corp. are becoming a member of other local traders in a gamble that they can make money on highend retailing in Quebec. The Beaudoins' realestate investment firm and Champlain confirmed they will buy Montreal's iconic Ogilvy department store, at the corner of Sainte Catherine and de la Montagne streets in the city's downtown. The michael kors veske buy price was not disclosed but is thought to be about $100million, double what current proprietor Pyxis Genuine Estate Equities paid for the store a 10 years in the past. Ogilvy has been a fixture of Montreal's skyline because its inception in 1866, as much a part of the city's material as the cross on Mount Royal or Schwartz's hebrew delicatessen. Its famed Bohemian crystal chandelier nonetheless graces the floor floor and a bagpiper plays for consumers each working michael kors vesker day at lunchtime, a louis vuitton vesker tradition started in 1950. The fivefloor retailer was the initial in the country to initiate the storewithinastore concept, in which the space was divided among independently operated upscale boutiques. It was also the initial in North America to import and showcase the contemporary bikini. The new proprietors consist of JeanFrancois Breton, coowner of property developer Devimco Inc., and the Quebec Federation of Labour's Solidarity Fund. The purchasers stated they intend to capitalize on the Ogilvy brand's status to start similar shops in Quebec. A 2nd Ogilvy shop will open up in 2012 at Quartier Dix30, a commercial lifestyle centre in Brossard on Montreal's south shore, the new proprietors stated. They are also considering places in Laval and Quebec Metropolis. It is tough to say how profitable the Ogilvy company is simply because it does not publish financials. But selling luxurious fashion and items in Canada has by no means been for the faint of heart. The country has a finite pool of highincome earners willing to spend $320 for a cashmere Burberry scarf or $1,295 for a 20inch aluminum Rimowa suitcaseboth now accessible for purchase at Ogilvy. Williams Team in Toronto. The Quebec market is lv vesker fashionconscious and there are plenty of brands for sale at Ogilvy that are considered fashionforward. But this transaction might be as a lot a realestate play as a wager on successful wellheeled consumers, Ms. Atkinson stated. "It is a extremely valuable piece of real estate," she stated. "As for the business by itself? I do not know." For Champlain Financial, which has investments in highend bathroom fixture maker Neptune and hockey retailer Professional Hockey Life, the attractiveness of Ogilvy was simply its company model, which it thinks it can expand to other places. Ogilvy is regarded as a hybrid retailerlandlord. It operates only a quarter of the retail area below its roof, promoting cosmetics and accessories and some highend lines. The relaxation is leased out to businesses like French style house Louis Vuitton, which favor to have their personal space. "We are very excited about this," stated Champlain president Pierre Simard. "We