Hudson’s Bay considers bringing Saks Fifth Avenue to Amsterdam

London - Hudson’s Bay, the Canadian department store group is said to have its sights on acquiring a 75,000 square foot building located in centre of Amsterdam’s shopping district, known as the Rokin, in order to open a Saks Fifth Avenue.

The Canadian group is currently in negotiation with the group behind luxury department store Haussmann to acquire the building, confirmed Lodewijk Bianchi, the recently appointed director of Haussmann to Quote.

News of the potential acquisition comes as the assets and bank accounts held by a group of Dutch entrepreneurs and investors behind Haussmann are seized for the second time this month. The court order seizer of the account is in relation to an unpaid loan taken out last year by Martin Smit, one of the investors of the department store. Plans for the boutique luxury store, which was planning on opening its door next year February, have also been disrupted by the group’s failure to attract high profile, premium fashion labels.

As the future of Haussmann remains very unstable, Bianchi has decided to enter discussion with Hudson’s Bay for the possible take over of the building in the Netherlands. Bianchi added that he is also in talks with another large fashion group, with department stores in Asia, but declined to reveal any names. Hudson’s Bay was also recently highlighted as potential buyer for bankrupted, Dutch department store chain V&D and is said to be eyeing up several store locations in order to bring Saks Off Fifth, the outlet version of Saks Fifth Avenue to the country.

Saks Fifth Avenue is currently seen as one of the most luxurious department stores in the USA. In addition to its flagship store on Fifth Avenue in Manhattan, New York, the group operates an additional 46 locations throughout the USA and Canada. The Canadian group is said to have already been looking for a suitable location to open a Saks Fifth Avenue in the Netherlands, if its acquisition of V&S was successful.

 

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