Hudson’s Bay goes Dutch

The retailer and its Saks Off 5th banner plan an expansion in the Netherlands over the next two years.

Following Saks Fifth Avenue and Saks Off 5th’s launches in Canada, Hudson’s Bay Company has announced plans to expand its European footprint by adding up to 20 new stores in the Netherlands over the next two years.

The first stores, operating under the Hudson’s Bay and the off-price Saks Off 5th banners, are expected to open their doors in the summer of 2017.

“The expansion into the Netherlands will build on HBC Europe’s existing infrastructure and will utilize the same platforms such as information technology, procurement and digital support,” according to a press release. “Build out of the stores will be funded primarily by the relevant landlords and HBC will invest in the operational aspects of the stores including merchandising and employees.”

In 2015, HBC acquired Galeria Holding (the parent company of department chain Galeria Kaufhof) and set up its European headquarters in Cologne. The expansion into the Netherlands is what Richard Baker, HBC’s governor and chairman, calls “a natural extension” of the retailer’s presence in Belgium. It’s also planning to enter Luxembourg.

In the press release, Jerry Storch, HBC’s CEO, added that the Dutch market has an “unmet demand” in the premium department store and off-price segments.

HBC estimates that the expansion will lead to 2,500 store jobs, 2,500 construction jobs and 300 million euros in capital investments.

Featured image via Shutterstock