Upscale Spanish jeweller Carrera y Carrera has opened its first North American location in Toronto. The boutique is located on Old York Lane (Unit 6, 138 Cumberland Street) at Yorkville Avenue.

The company was founded in 1885 in Madrid, and according to its website, is "one of the 30 most prestigious jewelry firms in the world". As it primarily uses gold and precious stones, Carrera y Carrera pieces are often priced into the thousands. Many pieces feature animal designs. The brand distributes in 40 countries worldwide and operates a handful of boutiques internationally.

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Carrera y Carrera's location off Yorkville Avenue is timely, as Yorkville Avenue prepares to become a luxury retail street potentially rivalling nearby Bloor Street West. Several months ago, the street saw a repaving of its streetscape with grey brick, and we recently announced that Chanel's Canadian flagship will relocate to 98 Yorkville Avenue, and that Christian Louboutin will open across the street at 99 Yorkville Avenue. We're told that other luxury brands are interested in nearby retail spaces and as a result, redevelopment will occur on both sides of the street and landlords build-out spaces appropriate for luxury brands.

Canadian Retail News From Around The Web: February 2, 2016