Hudson's Bay Sets Sights on Saks

Monday

Jun242013

Monday, June 24, 2013 at 2:43PM

There's never a dull moment in the fashion world and today is no exception with the rumour of a Hudson's Bay buyout of US retailer, Saks Fifth Avenue. According to WWD, Richard Baker, Chairman and CEO of Hudson's Bay Co., is the major contender to purchase Saks Inc.

Hudson’s Bay’s potential acquisition of Saks department store and its outlet, Saks OFF 5TH, could see both stores opening up in Canada in the not-too-distant future. HBC currently owns 48 Lord & Taylor department stores and 3 Lord & Taylor outlets in the eastern United States as well as 90 Hudson’s Bay department stores and 69 Home Outfitters housewares stores across Canada.

All rumours, all speculation at this point but can you imagine? Target, Nordstrom and Saks all without having to border-hop? Think this is the reason for Bonnie Brooks' recent promotion to Vice-Chairman?

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