Hudson’s Bay activist shareholder Land and Buildings said on Wednesday it believed a highly qualified third-party buyer had “serious interest” in acquiring Galeria Kaufhof, the department store operator’s European chain.
Hudson’s Bay Co, owner of the Saks Fifth Avenue and Lord & Taylor retail chains, plans to review its options including going private following pressure from an activist shareholder, people familiar with the matter said.
Don Watros, who has spent 11 years with HBC, will part ways with the company on September 29, 2017. The announcement of his departure comes one day after HBC moved up the opening date of its Netherlands location.
Hudson's Bay will open its first store in the Netherlands on September 5 instead of September 19 as originally planned. The range will be younger and more fashion forward than that of its sister retailer Galeria Kaufhof.
UBM will launch Vintage@Intermezzo just months after debuting the neighborhood at the Intermezzo Collections show in May. The consumer-facing fair will feature vintage products by Issey Miyake, Versace and Missoni.