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Report: Saks to add luxury items, outlet stores
New York – Saks Fifth Avenue is reportedly planning to both increase the amount of high-end luxury goods it sells and also increase the number of Saks Off 5th outlet stores it operates. According to the Wall Street Journal, Richard Baker, CEO of Canadian department store chain (and new Saks owner) Hudson’s Bay Company wants to overhaul Saks stores by selling more items such as $48,000 Louis Vuitton crocodile handbags.
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HBC goes digital
As part of its digital strategy, Hudson’s Bay Company has created HBC Digital and appointed Michael Burgess as the newly created group’s president. Burgess will report to the office of the chairman.
HBC Digital will drive the digital commerce and marketing strategy and execution across all channels, in partnership with each of the company’s business units: Saks Fifth Avenue, Lord & Taylor, Hudson’s Bay and HBC Outlets.