This Week in Fashion rounds up the week's style news, store openings and closings, pop-up shops, sales and upcoming fashion and design events in Toronto. Find it here every Wednesday morning.

NEWS

Last week, Hudson's Bay Company revealed their plans to open Canada's first two Saks Fifth Avenue stores. Despite whispers of the American retailer taking over The Bay on Bloor Street, Sak's 150,000 square foot Canadian flagship will be housed within the Queen and Yonge location - much like the existing multi-level Topshop/Topman boutique, but exponentially larger. Another Saks will replace Sears at Sherway Gardens - a logical move considering fellow U.S. heavyweight (and huge competitor) Nordstrom's intentions to open at the mall as well. The Queen & Yonge flagship is set to launch in the fall of 2015; the Sherway Gardens store in the spring of 2016.

Last Saturday (February 1st) marked the first-ever Canadian Arts & Fashion Awards (CAFA) ceremony, held at The Fairmont Royal York hotel to honour the top talents in Canadian fashion. While there were a total of ten awards for a diverse set of categories, the big winners of the night include womenswear designer Jeremy Laing and menswear designer Travis Taddeo - as well as DSQUARED2, who took home both the Outstanding Achievement and International Designer of the Year awards.

EVENTS/PARTIES

The Centre for Social Innovation is hosting Love Local, a pop-up market, today (February 5) in the Annex (720 Bathurst St). Stop in from 11 am until 7 pm to snag some locally handmade goods - to give to loved ones this Valentine's Day or keep as gifts to yourself - including jewellery, scarves, apothecary, artworks, and more.

This Friday (February 7), the Gardiner Museum Shop (111 Queen's Park) will be home to a one-day jewellery trunk show and sale featuring all sort of local gems. From 5 pm until 9 pm, shop bohemian necklaces by Armed, blinged out statement pieces by Cuchara, exquisite vintage costume jewels handpicked by Carole Tanenbaum, and more. Plus, there'll be a cash bar open so you can peruse with a pick-me-up!

OverThrow - a new name in Toronto-based menswear dedicated to marrying cultural elements and modern streetwear - is proud to announce the launch of their pop-up shop at 404 Adelaide Street West. To celebrate the opening this Sunday (February 9), they're offering free gifts to the first 100 guests in store. If you miss out, you have until March 15 to drop by and see what the label's all about. The store hours are as follows: Monday - Saturday 11 am - 8 pm, Sunday 12 pm - 6 pm.

SALES

Theodore 1922 is moving down the street to 374 Bloor Street West. The new location is expected to launch by March 1st, but until then, the current shop is having a moving sale. Visit the curated menswear boutique for a whole slew of great deals on quality suits, colourful shirts, and more.

Photo by Tullio M. Puglia (Getty Images)