B.C. billionaire Ruby Liu is set to acquire approximately 28 former Hudson’s Bay retail locations across Canada, revealing plans to collaborate with hesitant landlords and attract a younger demographic to the stores. Liu has emerged as the primary contender to fill the void left by Hudson’s Bay, which filed for creditor protection in March. She has already finalized three lease agreements, with the remaining 25 properties located in Alberta, B.C., and Ontario. Despite some resistance from landlords, Liu, who amassed her wealth in China’s retail industry, remains optimistic about the potential of the venture.
In an extensive interview with Gloria Macarenko on CBC’s The Early Edition, Liu shared insights into her vision for the department stores and the future of retail. Emphasizing the shift towards e-commerce, Liu aims to draw young individuals away from online platforms and into physical stores. She highlighted her correspondence with the prime minister to discuss enhancing the country’s competitiveness and benefits.
Liu underscored the importance of creating an immersive shopping experience, drawing inspiration from countries like Japan and Thailand known for hosting various events both inside and outside shopping malls. She advocated for shopping centers to host diverse activities and play a more significant role in community events.
Regarding the timeline for the store openings, Liu plans to hire 70% of the previous Hudson’s Bay managers and employees. The rollout strategy includes opening normal stores in three months, renovating and enhancing the shopping experience for other stores within six to eight months, and introducing innovative elements such as virtual reality and entertainment for the remaining stores. Liu expressed confidence in the cost-effectiveness of her approach compared to larger corporations.
Despite some skepticism from landlords regarding the retail plan and experience, Liu assured that detailed discussions and negotiations would address their concerns. She emphasized the importance of landlord support and collaboration, offering to share the success by providing them with a portion of the rewards.