Stop making bad decisions about agency partners - get early access to the Agency Scoreboard »

Target Brand To Makes Its Way To Canada In 2013 Through Acquisition Of Zellers Inc.

One of Canada’s oldest retails, Hudson Bay Company continues to go through ups and down and new owners. Currently the brand which includes the Bay, Zellers, Home Outfitters, and Fields is owned by a US equity firm who also operates Lord & Taylor. Earlier today Target Corporation (NYSE: TGT) announced that it has agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudson’s Bay Company (HBC), the leasehold interests in up to 220 sites currently operated by Zellers Inc.  With that said Target plans to launch in Canada in the first quarter of 2013 with 100 to 150 stores.

“This transaction provides an outstanding opportunity for us to extend our Target brand, Target stores and superior shopping experience beyond the United States for the first time in our company’s history,” said Gregg Steinhafel, Chairman, President and Chief Executive Officer of Target Corporation. “We are very excited to bring our broad assortment of unique, high-quality merchandise at exceptional values and our convenient shopping environment to Canadian guests coast-to-coast. We believe our investment in these leases will strengthen the surrounding communities as well as create strategic and financial value for Target stakeholders.”

I’ve never been a big dog lover (yes, I admitted that), but this little guy is damn cute!  Will the Target brand bring Bulleye up north?

John Milton

Interesting move by Target as they finally expand overseas.

Comments are closed