Canada’s Hudson’s Bay Company considers entry into Dutch market
Canadian retail group Hudson’s Bay Company is looking to open 60 stores in the Netherlands, according to Dutch newspaper Volkskrant. The company is in the running to buy Dutch retail chain V&D, which went bankrupt in December, but is considering expanding into the country even if the takeover does not complete.
According to the newspaper, Hudson’s Bay parent company is exploring the possibility of introducing either Belgium’s Galleria Inno or Saks Off Fifth into the Dutch market.
“We are always interested in the option of entering a select group of European countries as part of our growth strategy. The Netherlands is definitely included,” said the group’s chairman, Richard Baker to the paper.
In September last year, Hudson’s Bay Company expanded its presence in Europe significantly by purchasing the German department store chain Galeria Kaufhof for $3.8 billion. The deal included 102 Galeria Kaufhod stores in Germany and 16 locations under the banner Galeria Inno in Belgium.
The company is also said to be considering the introduction of its Saks Fifth Avenue and Saks Off Fifth into the German market.
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