Categories: Headlines

Hudson’s Bay Co. Taking Saks.com Public

The Hudson’s Bay Co. (Brampton, Canada.) has reportedly begun meeting with investors to spin off Saks.com into a public company, reports WWD.

The company is hoping to split Saks.com from the Saks Fifth Avenue brick-and-mortar stores. Hudson’s Bay is meeting with investors to do a private placement in Saks.com, putting it in position to do an IPO in the next year.

Saks.com currently generates about $1 billion in annual sales. President and CEO of Saks Fifth Avenue, Marc Metrick, would be the likely candidate to lead the Saks.com company.

VMSD Staff

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