Latest news with #CAD
Business Insider
33 minutes ago
- Business
- Business Insider
Aritzia is having a breakout year — here's why the women's fashion boutique is on a growth spurt
Watch out, Lululemon: Another Vancouver-based apparel maker is making a play for US shoppers. Aritzia, the everyday luxury womenswear retailer, has steadily gained ground and grown sales over the past several years with its assortment of stylish activewear and comfortable office wear. The company said in July that it grew its retail footprint by 25% over the last year, including opening 13 stores and redesigning three existing ones. The expansion helped drive retail sales up 34% year over year last quarter. "We've done a lot of work over the past 1 1/2 years, two years to refine our playbook and ensure that our inventory is productive and efficient. And I think we're in a fantastic place right now, very well-positioned," CEO Jennifer Wong said in an earnings call. The results appear to be delivering on some ambitious goals Wong laid out last year as Aritzia's US expansion was heating up. Wong was not immediately available for an interview with Business Insider, but she detailed her strategy in several interviews with other outlets. "We're tackling all the major cities where we know our brand and product resonates with the customer," she told Vogue Business last November. "The next step is to fill in the rest of the country." Founded in 1984 in Vancouver, Aritzia saw steady growth in Canada before entering the US in 2007. The company saw a bumper year in 2020, followed by some pandemic-era challenges, and has since tripled sales to more than CAD$2.7 billion last year. Wong has been with the company since its early days, rising through the ranks to eventually take over the helm from founder Brian Hill in 2022. She soon doubled the rate of store openings, helping to extend the momentum of the return-to-office era. "We experienced some explosive growth coming out of Covid," she said. "There was pent-up demand and a whole new energy. That really accelerated our business in the US, and we became more well known than ever. We've been really riding that momentum since." There are 68 locations in Canada and 63 in the US, and the company says it could see the US figure grow to more than 150 over the next few years, not to mention its growing e-commerce operation. Four of those locations will open in the next few months in the Boston area, Miami, Salt Lake City, and Raleigh, North Carolina. While Aritzia's stores have drawn some derision on TikTok for their mirrorless (and sometimes crowded) dressing rooms, its high-touch "style advisor" sales approach harkens back to the kind of personalized shopping experience offered at luxury department stores like Bergdorf Goodman. Of course, it's the clothing that ultimately makes or breaks the sale for fashion brands, and Aritzia appears to be delivering good value for its customers. In terms of style and substance, BI's reviews team called Aritzia's apparel " as timeless and elegant as it is trendy and modern" and said the quality is "undisputed." Price-wise, analysts at Jefferies looked at comparable products from nine peer retailers and found Aritzia to be a cut above the mid-tier but a step below the highest-priced brands. In other words, it is more expensive than Lululemon and J. Crew but less pricey than Anthropologie and Madewell. In addition, Aritiza's prices are less frequently marked down than some competitors. The Jefferies analysts suggested that the relative pricing and demand for Aritzia products give the company more room to grow in sales and profits, propelling its expansion. From its merchandise to stores to tech, it appears Aritzia is getting a lot of retail fundamentals right — and reaping the rewards. "It's not any one of those things, but it's all of these things that come together and how we've been able to execute well over the years on all of it," Wong told the Business of Fashion in January. "When I say we want to be excellent at everything, that's really what's in our minds."
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Business Standard
3 hours ago
- Business Standard
Canada Super Visa: Parents of immigrants can stay up to 5 years per visit
Living far from family? Canada's Super Visa offers a longer stay for parents and grandparents. What is the Canadian Super Visa? According to Immigration, Refugees and Citizenship Canada (IRCC), the Super Visa allows parents and grandparents of Canadian citizens or permanent residents to enter Canada multiple times over a period of up to 10 years. Each visit can last up to five years at a stretch. This is not a permanent residence pathway. It's still a visitor visa, just with longer permitted stays. While it spares families the need to keep reapplying for entry, it does not give work rights or access to public benefits. How is it different from a regular visitor visa? Here's how the Super Visa differs from a standard visitor visa as per IRCC: Number of entries: A visitor visa typically allows single entry for a short visit. The Super Visa allows multiple entries for up to 10 years. Stay duration: Visitor visa holders are usually allowed to stay for up to six months per visit. Super Visa holders can stay for up to five years at a time. Eligibility: Anyone can apply for a visitor visa. The Super Visa is strictly for parents or grandparents of Canadian citizens or permanent residents. Purpose: Visitor visas are issued for general tourism or short visits. The Super Visa is tailored for extended family reunification. Who is eligible for a Super Visa? According to IRCC, to apply for a Super Visa, the applicant must: • Be a parent or grandparent of a Canadian citizen or permanent resident • Apply from outside Canada • Have valid medical insurance from a Canadian provider worth at least CAD $100,000, valid for a minimum of one year • Submit a signed letter of invitation from their child or grandchild in Canada • Clear a medical exam, prove intent to return, and provide documents about the home country's conditions How to apply 1. Send a letter to sponsor your parents or grandparents. This must include: • Name and date of birth of the applicant • Purpose and duration of the visit • Home address and contact number • Address where the applicant will stay in Canada 2. Choose whether to apply online or on paper 3. Collect all supporting documents, including: • Passport • Birth certificate or other documents proving the relationship • Marriage certificate (if applicable) • Proof of medical insurance • Letter of invitation 4. Fill out and submit the Super Visa application form Once approved, the visa is stamped in the applicant's passport and remains valid for up to 10 years, subject to passport expiry. Processing time and cost If applying from India, the average processing time for a Super Visa is about 78 days, but it can be extended, according to the July 2025 update by Canada immigration. Here are the costs involved: CAD $100 – application processing fee CAD $85 – biometrics fee CAD $200 to $300 – medical exam fee Can your parents work in Canada on a Super Visa? No. The Super Visa does not grant the right to work in Canada. It only allows extended visits. Anyone who wants to work must apply for a separate work permit and secure a job offer. Important to know Many families also purchase international travel insurance for their parents to cover any unexpected medical issues or travel-related disruptions such as delays or baggage loss. While not mandatory beyond the medical insurance required for the visa, it can offer peace of mind. Canada also offers a Parents and Grandparents Program, which is a route to permanent residency for Canadians and permanent residence. However, demand usually exceeds supply, so IRCC uses a lottery-style draw to select eligible sponsors. Applications are only accepted from those drawn in the lottery.
Toronto Star
19 hours ago
- Business
- Toronto Star
Clip Money Inc. Announces US$4,000,000 Financings
TORONTO, July 18, 2025 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) ('Clip Money' or the 'Company'), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce the closing of a non-brokered private placement of an unsecured convertible note (the 'Convertible Note') for gross proceeds of US$3,000,000 (or CAD$4,125,900, based on a CAD/USD exchange rate of US$1 = CAD$1.3753) to Cardtronics Inc. ('Cardtronics'), a subsidiary of NCR Atleos Corporation (the 'Convertible Note Financing'). Cardtronics is Clip Money's largest shareholder and also a strategic commercial partner through the NCR Atleos Allpoint ATM network. Cardtronics' continued support highlights its confidence in the Clip Money solution and team. Separately, Clip Money is also pleased to announce the closing of a non-brokered private placement of 6,876,500 common shares in the capital of the Company ('Common Shares') at a price of CAD$0.20 per Common Share for gross proceeds of US$1,000,000 (or CAD$1,375,300, based on a CAD/USD exchange rate of US$1 = CAD$1.3753) to two insiders of the Company (the 'Equity Financing', together with the Convertible Note Financing, the 'Financings').
Hamilton Spectator
21 hours ago
- Business
- Hamilton Spectator
Clip Money Inc. Announces US$4,000,000 Financings
TORONTO, July 18, 2025 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) ('Clip Money' or the 'Company'), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce the closing of a non-brokered private placement of an unsecured convertible note (the 'Convertible Note') for gross proceeds of US$3,000,000 (or CAD$4,125,900, based on a CAD/USD exchange rate of US$1 = CAD$1.3753) to Cardtronics Inc. ('Cardtronics'), a subsidiary of NCR Atleos Corporation (the 'Convertible Note Financing'). Cardtronics is Clip Money's largest shareholder and also a strategic commercial partner through the NCR Atleos Allpoint ATM network. Cardtronics' continued support highlights its confidence in the Clip Money solution and team. Separately, Clip Money is also pleased to announce the closing of a non-brokered private placement of 6,876,500 common shares in the capital of the Company ('Common Shares') at a price of CAD$0.20 per Common Share for gross proceeds of US$1,000,000 (or CAD$1,375,300, based on a CAD/USD exchange rate of US$1 = CAD$1.3753) to two insiders of the Company (the 'Equity Financing', together with the Convertible Note Financing, the 'Financings'). The Convertible Note will accrue simple interest at a rate of 13% per annum. The Company will make quarterly cash interest payments in satisfaction of a portion of the interest that accrues on the principal amount of the Convertible Note in the preceding quarter. The principal amount of the Convertible Note outstanding on the Maturity Date plus all accrued and unpaid interest thereon that has not been previously paid in connection with the quarterly interest payments will be due and payable in full on, July 18, 2030 (the 'Maturity Date'). On the Maturity Date, payment of the principal amount of the Convertible Note then outstanding will be satisfied by the Company, at Cardtronics' sole discretion, through: (i) a cash payment equal to the entirety of the principal amount of the Convertible Note then outstanding; (ii) the issuance of a number of Common Shares equal to the entirety of the principal amount of the Convertible Note then outstanding divided by CAD$0.55 (the 'Conversion Price'); or (iii) a combination of a cash payment and the issuance of Common Shares at the Conversion Price, provided that at least 50% of the principal amount of the Convertible Note then outstanding must be converted into Common Shares. On the Maturity Date, payment of all accrued and unpaid interest up to and including the Maturity Date that has not been previously satisfied by way of the quarterly interest payments will be satisfied by the Company, at Cardtronics' sole discretion, through: (i) a cash payment equal to the entirety of all accrued and unpaid interest up to and including the Maturity Date; (ii) the issuance of a number of Common Shares equal to the entirety of the accrued and unpaid interest up to the Maturity Date divided by the then-prevailing market price of the Common Shares on the TSX Venture Exchange (the 'TSXV'), subject to prior written approval of the TSXV; or (iii) a combination of a cash payment and the issuance of Common Shares at the then prevailing market price of the Common Shares on the TSXV, subject to prior written approval of the TSXV. Subject to the terms of the Convertible Note, if the Company redeems all or a portion of the Convertible Note prior to the three year anniversary thereof, it must pay a redemption price equal to 102% of the portion of the principal amount of the Convertible Note being redeemed plus all accrued and unpaid interest up to and including the redemption date on the portion of the principal amount being redeemed. Such a redemption shall be payable in cash or, at the election of the holder and subject to the prior written approval of the TSXV, be payable in Common Shares pursuant to the terms of the Convertible Note. Subject to the terms of the Convertible Note, if the Company redeems all or a portion of the Convertible Note after the three year anniversary thereof and until the date that is one day before the Maturity Date, it must pay a redemption price equal to 101% of the portion of the principal amount of the Convertible Note being redeemed plus all accrued and unpaid interest up to and including the redemption date on the portion of the principal amount being redeemed. Such a redemption shall be payable in cash or, at the election of the holder and subject to the prior written approval of the TSXV, be payable in Common Shares pursuant to the terms of the Convertible Note. The Financings represent related-party transactions under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'), but are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transactions nor the consideration paid exceeds 25% of the Company's market capitalization. All securities to be issued in connection with the Equity Financing and the Convertible Note Financing are subject to a statutory hold period of four months plus a day from the date hereof in accordance with applicable securities legislation in Canada. The Company intends to use the net proceeds from the Financings for network expansion and customer acquisition, new unit capital expenditures, business operations and technology and for general corporate purposes. There was no finder's fee paid in connection with the Financings. EARLY WARNING DISCLOSURE REGARDING BRIAN BAILEY In connection with closing of the Equity Financing, Brian Bailey, president and chief operating officer of Clip Money, acquired 3,438,250 Common Shares at a price of CAD$0.20 per Common Share pursuant to the terms of a subscription agreement. Prior to closing of the Equity Financing, Mr. Bailey beneficially owned, directly or indirectly, (i) 7,233,766 Common Shares, (ii) a convertible note in the principal amount of CAD$367,518 (the 'Bailey Convertible Note') that is convertible into 735,036 Common Shares, in whole or in part, at the option of Mr. Bailey, based on the principal amount of the Bailey Convertible Note divided by the conversion price of CAD$0.50, (iii) 455,118 common share purchase warrants ('Warrants') exercisable for 455,118 Common Shares, and (iv) 1,449,650 options exercisable for 1,449,650 Common Shares (the 'Options'), representing approximately 6.86% of the issued and outstanding Common Shares of Clip Money on a non-diluted basis and approximately 9.14% of the issued and outstanding Common Shares of Clip Money on a partially diluted basis assuming the full conversion of the Bailey Convertible Note and the full exercise of the Warrants and Options. Following closing of the Equity Financing, Mr. Bailey will own (i) 10,672,016 Common Shares, (ii) the Convertible Note, (iii) 455,118 Warrants and (iv) 1,449,650 Options, representing approximately 9.51% of the issued and outstanding Common Shares of Clip Money on a non-diluted basis and approximately 11.59% of the issued and outstanding Common Shares of Clip Money on a partially diluted basis assuming the full conversion of the Bailey Convertible Note and the full exercise of the Warrants and Options. The securities of Clip Money are being held by Mr. Bailey for investment purposes and Mr. Bailey will evaluate his investment in the Company from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease his shareholdings through market transactions, private agreements, or otherwise. This news release is being issued under the early warning provisions of Canadian securities legislation. A copy of the early warning report to be filed by Mr. Bailey in connection with the transactions described above will be available on the Company's SEDAR+ profile at . A copy of such report may also be obtained by contacting Joseph Arrage by telephone at 844-593-2547 or by email at jarrage@ . The Company's registered office is located at 333 Bay Street, Suite 3400, Toronto, Ontario, M5H 2S7. About Clip Money Inc. Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box or ClipATM located near them. After being deposited, the funds will automatically be credited to the business' bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit . Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. For further information, please contact: Joseph Arrage Chief Executive Officer tel: 844-593-2547
Time Business News
a day ago
- Business
- Time Business News
Reasons Custom Patches Are Growing In the Canadian Market
Patches are not just the fabric that we use to stitch on our old clothes, bringing a new look. Each one serves a different purpose and has a new story to narrate. Whether used on jackets or backpacks, this fabric is seen as a symbol of art, pride, and identity in Canada. It began as a functional accessory industry but has boomed into a new shape and demand. Through this blog, we will explore how Canada is making its place in the custom patch industry and how it has balanced traditional and latest trends in its new designs. Historically, the Canadian textile industry incorporated embroidery into its design process. Each stitch had a story to narrate, whether for indigenous designs or military emblems. Today, the embroidery patches have made their place in the fashion world. People no longer want mass-produced designs; they seek symbols that reflect their stories, brands, or communities. The demand for personalized embroidery has surged from small businesses to biker clubs. With local Canadian artisans stepping up, the quality and emotional impact behind each patch have reached new heights. The embroidery patches custom are gaining attention in Canada for a few reasons. One of these is that people prefer local and handmade products over other things. They look for something that is tangible and carries values with aesthetics. Secondly, fashion industry influencers and social media play their part. Audience views jackets with embroidered patches over the platform, making a fashion statement. Lastly, the brands are using them as a marketing tool. It adds the wearer's identity to the uniform and shows unity among the team. The Canadian embroidery patch-making industry has been rising in recent years. The graph below shows that from 2018 to 2024, the market grew from CAD 45 million to CAD 104 million. This increased trend reflects the scope of domestic demand and an appreciation of Canadian-made patches in the international market. This growth wasn't just accidental. The pandemic also played a role. With global shipping slowed down and local production becoming more critical, Canadian businesses had a chance to shine. Artisans who were once hobbyists found themselves fulfilling bulk orders. Suddenly, 'Made in Canada' wasn't just a label. It was a mark of reliability and creativity. The dedication behind each design makes Canadian custom embroidery truly stand out. These aren't mass-assembled products. Many patches are hand-stitched or machine-finished by local creators who understand the emotion behind every request. A patch for a firefighter's uniform, a scout badge, or a charity event, each one is crafted with pride. For instance, one Toronto-based patch studio started with just one machine in its home. Today, it serves thousands of clients across the country. The founder proudly stated that each patch is a handshake welcoming clients and promising to build connections. No other international franchises can replicate this connection with the locals. Another reason Canadians are inclining towards local embroidery is sustainability. Canada's Custom patch designers use eco-friendly threads, low-waste production processes, and biodegradable backing materials. When it comes to the fashion industry, customers have become more mindful. A single patch may seem small, but it represents a conscious choice in fashion. People prefer wearing their personality through patches. Additionally, Canadian embroidery brands have switched towards using recycled fabrics and support fair labor practices. Whenever someone orders a patch from the local one, they contribute to the economy as much as to the aesthetics. Custom patches are known for their flexibility. You can turn your old denim jeans into a new, trending pair or make your sports tee feel personal. Be it schools, sports teams, charity event organizers, or corporate firms, all of them use it to communicate their message. Even wedding planners have added them to the list of items. There are patches for pets, kids, and those that glow in the dark. Canada is supporting this culture. Skate crews have designed their patches to represent their groups. In the same way, artists stitch creative patches, making a social statement. Additionally, custom embroidered motorcycle patches are used by different biker gangs to show unity. These small ones are more than a design; they are loud, colorful, and declarative. Modern technology in Canada never means marginalizing traditional technology. The makers are enhancing it. New digital machines allow creators to replicate detailed artwork into threads. This trend has opened possibilities for illustrators, cartoonists, and designers. They can turn their ideas into wearable materials, but hand embroidery remains a trend. Many clients prefer that unique imperfections and textures come with the hand-stitch designs. The balance between machine precision and human touch is one factor that sets Canadian patches apart from others. Small Canadian businesses make up a large part of the industry's growth. Family-run shops, indie makers, and boutique studios are at the heart of the custom patch industry. They are not just selling their products but building relationships with the communities. Each customer is a part of their story. Social media is helping businesses grow. Videos uploaded to various platforms showcase the behind-the-scenes process of patch makers, helping brands connect with an international audience. Canadian patches have made their place in the international market. They are not just loved locally; international customers prefer buying them. Countries like the US, Australia, and the UK are major buyers of their patches. Some of the reasons are their simplicity, durability, designs, and the story narrated through each piece. The rise of custom embroidery patches in Canada is more than a fashion movement. It is a reflection of what people value today. The patches are more than just decoration. They are statements of identity, badges of honor, and a tiny canvas to show creativity. When these patches are manufactured in Canada, they serve a purpose. Behind every patch is a hidden story, and behind every story is someone who chose passion over mass production. Whether you are a business owner, a fashion lover, or simply someone with a story, there's a Canadian patch waiting to bring your vision to life. TIME BUSINESS NEWS
