Ian Rosen is at ease wandering all four floors of the flagship Harry Rosen store his late grandfather started and his father built upon, but it’s the lower level where he’s really at home. There, Rosen’s eyes light up as he approaches a department of linen shirts, knit polos and sport coats from Patrick Assaraf, a Canadian designer Rosen dines with monthly who fondly recalls starting his business with a stretch cotton T-shirt sold in three colours. “This has become a great introduction to that new way of dressing,” Rosen said, motioning to rows of the same T-shirt now sold in almost a dozen colours at Harry Rosen’s store in the tony Yorkville neighbourhood.

“It’s very modern. It’s very approachable.” That vibe is exactly the one his family business is aiming for as it celebrates 70 years since its namesake Harry, who died in December at 92, and his brother Lou opened a small, made-to-measure menswear store in Toronto’s Cabbagetown with a down payment of $500.

The luxury business has since cemented a reputation for being the epitome of haberdashery, but these days, president and chief operating officer Ian Rosen says it’s on the brink of reinvention. The company is pouring $50 million into renovations meant to update its 14 stores and five outlets. It will also move the marquee Bloor Street West location Rosen was recently strolling around the corner to Cumberland Avenue, where shoppers will be treated to a patio overlooking Yorkville, a client lounge, .