A well-known downtown Oakville store will soon be closing for good.
Downtown Oakville's Boa Boutique will be shutting its doors after the business concluded that the future of local retail in the downtown core isn't sustainable.
In an interview with Oakville News, shop owner Daphne Nissani told reporters, "I could see how rapidly things are changing so I have to think about the future and I just don't think that downtown is going to be as accessible to small business, I'm not even sure if Kerr Street will be at this point."
Nissani currently operates two Boa Boutique locations with her other located on Queen Street in Toronto.
Nissani says the real estate costs in Oakville have increased dramatically over her 15 years serving the community, without a similar rise in foot traffic. She explains, "With the change in real estate, those two need to collide," but they haven't.
The current location in Oakville, at 125 Lakeshore Road East, is the boutique's second spot on the strip, having moved two years ago from the other end near Aroma Espresso Bar.
Nissani says the boutique hasn't experienced any serious financial troubles yet; rather, they're trying to be in a "good position" before real estate rates get out of control for small businesses.
"The sustainability is really what it comes down to," said Nissani. "I can see how the pricing is starting to shift into the top ten of commercial real estate pricing for retail in Canada, it's really quickly getting up there, it might even be there very soon."
Though the change has been drastic, Nissani says it's "no surprise."
"In Toronto, we saw the very same thing when you see the changeover in Queen West or some of those pockets start to shift," she said. "Seeing this evolve into what it is, it's no surprise - it's almost just the nature of things."
Reflecting on her journey in Oakville, Nissani is proud of all that she and her team have accomplished over the brand's 15 years here, and she says this certainly isn't goodbye.
Nissani will be doing fitting dates and seasonal pop-ups in Oakville, with the first pop-up set for the weekend of October 19, 2024. She's also actively growing Boa Boutique's online shopping platform and will continue to operate the Toronto location at 2116B Queen Street East.
"It's definitely not goodbye, I've already started making arrangements," said Nissani. "There is a beauty to the change in how business is functioning, and at least now I can see it and I've been able to access it using my social platforms, using my online business, and because I believe in that, I can get a jump start on it instead of (operating) two brick and mortar as that's what's more challenging," she continued.
Though the store has confirmed it will be closing, the exact dates remain unconfirmed. Nissani says they will be running sales as they approach their ending.