One of the most prominent names in high-end furniture, the Art Shoppe, is shutting down its Toronto showroom. Founded in 1936, the international retailer has become an iconic seller of luxury furniture and accessories in Toronto, and now, it is closing down its 70,000 – square – foot Castlefield Design District showroom. For over 83 years, the Art Shoppe has been at the forefront of collector-quality, elegant furniture, and back in May, the ownership team introduced their liquidation sales as “part of a strategic reassessment” while they “mull go-forward strategies” for this well-known furniture retailer.
The merchandise at the Art Shoppe varies from accessories (throw pillows, luxury fine arts, lighting, rugs, and accents) to furniture for the entire home (fashionable sofas, arm-chairs, dining room tables, bedroom furniture and much more). For over 8 decades, their showroom has been the go-to place for many interior designers, celebrities and furniture collectors for luxury, high-end furniture.
What’s in store for the future?
While there are still no announcements regarding the next steps for this popular furniture retailer, there have been talks of the brand going digital. According to Mark Bannon, the person behind the Art Shoppe’s strategic sale, the luxury furniture business is “entering a new phase in which smaller-format, Internet-based showrooms are on the rise.” He also added that the Art Shoppe is a “powerful brand with the potential for another chapter” inviting everyone to stay tuned for the company’s next moves. In addition, one of the owners of the shop, Carolyn Offman, mentioned that the family is now “re-evaluating how E-commerce, demographic shifts, and real estate trends” could shape their future strategy. ”
Bannon also stressed that the liquidation sale is a special one, “not only because of the pieces on offer but also because it celebrates the long history of a storied Toronto business,” and we couldn’t agree more. We’re excited to see what the future will bring for this famous retailer and to see if strategic reassessment will open up new possibilities for them.