I checked out the Labels 4 Less last night (ps: Versace jeans at 50-60 bucks) and I heard the new Hugo Boss will be a company global flagship, and one of their largest stores worldwide. They will completely tear down the old Versace store and build from what I heard a stone, steel and glass creation on the site. Good for Bloor..
Btw, it's interesting that on Hugo Boss' website the only stores listed in the Toronto area are Yorkdale and Cumberland. The Hugo boutique isn't listed and neither is the accessories shop on Old York Lane.