To no one's real surprise, the Hudson's Bay Company (HBC) just announced that Saks Fifth Avenue is coming to Toronto, sharing space in the flagship HBC department store at the corner of Yonge and Queen Streets (Sherway Gardens will get a Saks location, too). If the news earlier this month of Nordstrom coming to town is any indication, Saks will be welcomed with open wallets by throngs of Toronto shoppers eager to throw some rainbow-hued money at them.
HBC acquired Saks in July of 2013, having already added the Lord & Taylor brand to their portfolio. Canadian shoppers haven't seemed to resent the American invasion, since L&T-labelled merchandise has been snapped up ever since (it seems the cashmere sweaters have been a particularly big hit). Saks' Queen Street opening is scheduled tentatively for the autumn of 2015. What do you think of the increasing US retail influx?
· Saks Fifth Avenue to Open at Toronto Eaton Centre [Financial Post]
· More US-Based Retail Therapy On Its Way [Curbed Toronto]