Hudson’s Bay Company to purchase Saks Inc. for $2.9 billion
News broke this morning that Canadian retail powerhouse, HBC is set to purchase the luxury American retailer Saks Inc. in a friendly deal worth $2.9 billion (gasp!). It seems as though HBC is dedicated to enter the world of
luxury goods, with its introduction of The Room and recent takeover of Lord & Taylor. Not much information has been given on when we will see Saks stores in Canada, but we’re left to wonder what this means for other made-in-Canada retailers. We’ll keep you posted. OVER TO YOU! Are you looking forward to Saks in Canada?