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Hudson’s Bay to open 20 stores in Netherlands

RBR Staff Writer Published 19 May 2016

Hudson’s Bay Company (HBC) is planning to open 20 new stores in the Netherlands over the next two years, as part of its efforts to expand its footprint in Europe.

For the purpose, the department store chain is finalizing long term leases for few select locations.

The first stores are expected to be opened in the summer of 2017 and will operate under the banners of Hudson's Bay and Saks OFF 5TH.

HBC's CEO Jerry Storch said: "We believe that in the Dutch retail market there is unmet demand in both the premium department store and off-price segments. The Hudson's Bay and Saks OFF 5TH banners, tailored for the Dutch market, will introduce our all-channel retail model to the Netherlands with a combination of exciting retail destinations and a best in class ecommerce presence.

"The situation is similar to the one we capitalized on in Canada with Hudson's Bay. We introduced a new, innovative format offering relevant brands and excellent service. We will use our proven playbook based on our success with fantastic department stores combined with local management expertise to create innovative retail destinations."

The planned expansion is intended to strengthen HBC Europe's existing infrastructure and will use platforms such as information technology, procurement and digital support.

Construction of the stores will mostly be funded by the concerned landlords and HBC will invest in the operations of the stores such as merchandising and employees.

HBC governor and chairman Richard Baker said: "Our acquisition of GALERIA in 2015 established our European headquarters in Cologne and a platform for future organic growth. Expansion into the Netherlands is a natural extension of our existing presence in Belgium as well as our planned entry into Luxembourg and will complete our presence in all of the Benelux countries.

"We were able to capitalize on an opportunity to select sought after, high street real estate locations. Canada and The Netherlands have a long, storied history built on collaboration and cultural respect. This is an extremely compelling opportunity to invest in the Dutch market, leverage the iconic Hudson's Bay brand and introduce what will be the only nationwide all-channel premium department store."