Tuesday, November 5, 2024
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Hudson’s Bay Names New Chief Financial Officer

by Katie Lee

Toronto — Hudson’s Bay, the Canadian store operations under HBC, has appointed Nadira Singh as chief financial officer, effective May 2, 2022. An accomplished, performance-driven executive, Singh brings more than 15 years of experience in finance, project planning and process transformation to the retailer, with a track record of developing strategies that drive financial and operational excellence. She will report directly to Wayne Drummond, president, Hudson’s Bay. “As we evolve our stores to be destinations of discovery for our customers, I am delighted to welcome Nadira to the Hudson’s Bay …

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HBC and Insight Partners Launch Saks as a Standalone E-Commerce Company

by Katie Lee

New York City — HBC and leading growth capital investor Insight Partners have entered into a partnership that establishes Saks Fifth Avenue’s e-commerce business as a standalone entity, which will be known as Saks. Insight Partners has made a $500 million minority equity investment in Saks, valuing the business at $2 billion. The retailer’s 40-store fleet will operate separately as an entity referred to as SFA, which remains wholly owned by HBC. As separate but related sister companies, Saks and SFA will be better able to appropriately plan for and …

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ABG Acquires Barneys New York

by Katie Lee

New York City — Authentic Brands Group (ABG), a global brand owner, marketing and entertainment company, has emerged as the successful bidder to purchase the intellectual property of Barneys New York (Barneys). Through this acquisition, which closed on November 1, ABG will enhance its luxury footprint and further establish its position as a leader in contemporary fashion. “We are thrilled that our offer for Barneys has been accepted,” says Jamie Salter, founder, chairman and CEO of Authentic Brands Group. “Barneys is one of the most recognizable and iconic names in …

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Saks Fifth Avenue To Open First Store in Western Canada

by Katie Lee

New York City and Calgary, Alberta (Canada) — Saks Fifth Avenue plans to open its third Canadian location, in Calgary, Alberta. Expected to open in January 2018, the 115,000-square-foot, two-level location will be part of CF Chinook Centre, a Cadillac Fairview property. The new store will feature a modern and authoritative merchandise assortment. In addition to its elevated assortment, the new location will offer a full service Fifth Avenue Club, complete with private suites and personal shopping consultants.

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