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Hudson Bay to buy Saks approximately
Don let the global economy fool you: Luxury is don't dead.
Saks inc. decided to have sell itself to Hudson Bay Co, The Canadian parent of upscale retail outlet Lord Taylor, for around $2.4 billion in a deal that will bring luxury to more us locales.
The acquisition combines three variety store brands " Hudson gulf, Lord Taylor and Saks Fifth path " And establishes a North American upscale retailing behemoth with 320 stores in some of the biggest and most populous cities in America and Canada.
jesus Taylor and Hudson Bay, Canadian biggest shopping district chain, Cater to well heeled shoppers who can afford $98 Free People blouses and $250 coach handbags but aspire to buy more luxury brands that they can necessarily afford yet. Saks customers are more affluent and can ante up $800 for Christian Louboutin heels or a couple of thousand dollars for Gucci handbags.
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