Simons Clothing Retailer Not For Sale, Says CEO

Simons Clothing Retailer is not for sale and does not intend to go public to fund its next growth phase. “No, we’re not for sale,” says Simons CEO Peter Simons in an interview with Le Journal.

The company, which has experienced significant growth in recent years, still remains privately owned, owned by the Simons family, including Peter and his brother Richard.

The CEO of Simons does not hide that the company has been the envy of many investment funds and big competitors in recent years.

“We got offers to sell, but i’m not interested int hat. We want to remain independent as long as possible. For the past five years, there have been many sacrifices of time and money as entrepreneurs. And that’s what motivates me and my brother to build a world-class business from Quebec City, “he says.

Simons admits that the retail sector is in a state of turmoil with the advent of online commerce.

“That’s not what it used to be. It has become very complex with mathematics, technology, and so on. You have to know how to cross all these multidimensional elements to succeed today, “says one who sees himself more as a conductor.

Large investments

Peter Simons admits that the last few years have been rich in emotions while the company’s bankers have been widely courted.

To drive its recent store openings, the retailer invested more than $ 200 million, not to mention the construction of a new distribution center in Quebec City at a cost of $ 150 million.
” Long-term vision ”

As for the possibility of seeing the Maison Simons on the Toronto Stock Exchange in the near future, Peter Simons closes the door in double turn. “We want to remain independent. Our goal is to create a quality company with a long-term vision. I am a trader at the base. If we went on the stock market, I would always be explaining where we want to go and I would feel like wasting my time.”

The businessman says he still has a lot of work to develop the Simons brand in English Canada. “People need to know us. It’s very stimulating. “

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About the Author: Sarah Tulowitzki

Sarah Tulowitzki is a financial reporter, focusing on technology, national security, and policing. Before joining Canadian Business Tribune she worked as a staff writer at Fast Company and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.

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