Saks 5th Ave owner Hudson’s Bay plans to open shops in Netherlands

Canadian department store company Hudson's Bay plans to become a major player in the Netherlands - the company plans to open some 20 department stores in the Dutch market in the coming years, NOS reports based on sources.

According to the broadcaster, Hudson's Bay, owner of among others Saks 5th Avenue, is talking to building owners this week. Before the week is out, the company wants agreements in place to establish a new department store in these buildings.

Hudson's Bay wants to take the place of bankrupt V&D and become the second department store chain in the Netherlands in both size and price. Though Hudson's Bay will be in fewer cities than V&D was and target a slightly more luxurious segment, insiders told the broadcaster.

The Canadian company tried to buy several V&D buildings during the chain's bankruptcy. According to the broadcaster, Hudson's Bay is again in discussion with owners of several V&D buildings.