Holt Renfrew launches Canadian discount chain

Toronto -- Canadian luxury fashion retailer Holt Renfrew & Co. said Monday it will launch a new discount chain called hr2, with a first store in March in Quebec, followed by planned locations across the country by 2015.



It said the stores will range in size from 25,000 sq. ft. to 35,000 sq. ft., smaller than Holt Renfrew’s nine department stores, and targeting women age 25 and up.



Holt said the hr2 chain will carry new clothing by the same brands featured in the department stores at a lower price, rather than aged product sold at a discount.