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Saks Off 5th Will Cross the Pond in 2017

A big Hudson’s Bay Company (HBC) announcement has revealed which of its properties hold the most promise for growth.

The Toronto-based retailer plans to take its namesake banner as well as Saks Off 5th, the off-price arm of Saks Fifth Avenue, to the Netherlands in the summer of 2017. According to a statement released Tuesday, as many as 20 stores are set to open over the next 24 months.

The news follows last September’s $2.8 billion buyout of Galeria Kaufhof Group and the subsequent addition of HBC Europe to the company’s portfolio. The proposed expansion will build on the infrastructure gained during the acquisition and will utilize the same information technology, procurement and digital support platforms.

Read more at Sourcing Journal.