Hudson’s Bay said its online business will be known as The Bay and responsible for marketing, technology and other aspects for both businesses. (The Logic)
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Hudson’s Bay said its online business will be known as The Bay and responsible for marketing, technology and other aspects for both businesses. (The Logic)
Talking point: HBC already spun off the e-commerce business for its Saks Off 5th and Saks.com brands with venture capital firm Insight Partners purchasing a stake in both. The retailer, which went private in a heated battle last year, is undergoing what it calls a “digital-first transformation.” The company launched an online marketplace in April and HBC CEO Richard Baker said in a statement separating the two businesses “is a pivotal next step” as the company works to “become the country’s largest premium hybrid shopping experience.” It said it currently has the sixth largest e-commerce business in Canada. Meanwhile, Canadian Tire reported “the largest quarter in its history for e-commerce sales” for its namesake chain, with second-quarter online sales up 63.2 per cent to more than $600 million.
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