Hudson’s Bay Company (HBC) is growing beyond its North American base by buying German department store chain Galeria Kaufhof and Inno, its Belgian subsidiary.
The company was established in 1670 and played a major part in Canadian history by trading the furs caught by indigenous people and the first European explorers. It controlled North American trade for centuries establishing outposts in far-flung locations.
It later provided essential goods to prospector and settlers in what would become western Canada and eventually evolved into Canada’s largest company.
HBC now owns a chain of department stores in Canada, the Lord & Taylor chain of stores in the U.S. as well as Saks Fifth Avenue. Same-store sales have grown 20 per cent in Canada over the past four years.