I suspect they will

The new Bloor VCA is too close to Birks VCA...
The store will be steps away from Birks which currently houses a Van Cleef & Arpels boutique, and is part of an investment by parent company Richemont to open standalone stores in Canada.
retail-insider.com
"What’s interesting is Van Cleef & Arpels already has a ‘door’ on Toronto’s Bloor Street — The Birks jewellery store at Manulife Centre
has a separated Van Cleef & Arpels boutique with entrances from within Birks as well as from Bloor Street itself. The distance between Birks’ boutique and the leased standalone Van Cleef & Arpels at 100 Bloor is about 145 metres or 475 feet — so it’s unlikely that the Birks Van Cleef & Arpels boutique will continue to operate where it is once the standalone corporate store opens nearby.
It’s a major blow to the Birks store to lose its top brand, though it also presents the opportunity to open a new boutique presence for another jewellery brand at Birks on Bloor Street in Toronto. Birks operates boutiques with doors onto the street in Vancouver including
Graff Diamonds and Patek Philippe (pricey watches) and one of these could replace the Toronto Birks Van Cleef space."