An influx of rich Chinese has made the Canadian city, known for its outdoor lifestyle and ability to produce homegrown international brands, increasingly strategic to the global luxury sector.

The founder and former chief executive of Totokaelo, which opened an ambitious store in New York last autumn, is exiting the young luxury retailer, shortly after it was acquired by Herschel Capital Corp.

Young-luxury retailer Totokaelo, which opened an ambitious store in New York City last autumn, has entered into a deal with Vancouver-based Herschel Capital Corp., the owner of accessories brand Herschel Supply Co.