×
148
Fashion Jobs
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Application Security Architecture Consultant, India - Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
MASAR GROUP
IT Support
Permanent · DUBAI
NIKE
Sap Security Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
TLM CONSULTANCY
Merchandising Assistant
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
PR Assistant
Internship · MUMBAI
NIKE
Senior Dev Ops Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
OUTHOUSE JEWELLERY
Communication Designer
Permanent · MUMBAI
OUTHOUSE JEWELLERY
Store Manager
Permanent · NEW DELHI
NIKE
Senior Sap Application Engineer- Sec Tech, Icc - India
Permanent · Bengaluru
MAC
Make up Artist - Mac - Nykaa Pacific Rajori
Permanent · Delhi
Published
Feb 2, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hudson's Bay lays off workers, plans Saks.com IPO

Published
Feb 2, 2021

Hudson's Bay Company is permanently laying off workers across Canada, as it attempts to keep up with ongoing disruptions caused by the Covid-19 pandemic. 

Hudson's Bay lays off workers; plans Saks.com IPO. - Facebook: Saks Fifth Avenue


It will lay off more than 600 workers, which represents about five percent of the company's total workforce. Hudson's Bay has suffered from forced store closures during much of the last year, and currently about half the company's department stores are still temporarily closed. 

Still, the legacy retailer has a star contender as it is reportedly working to spin off Saks.com into a public company. The plan is to separate Saks.com from the Saks brick-and-mortar stores, creating two different entities under one exclusive agreement. 

According to WWD, Hudson’s Bay is currently in discussion with investors to do a private placement, which could lead to an IPO in as little as 12 months. 

Most recently, Saks.com received a facelift with updates including a redesigned new arrivals section and a larger focus on its menswear categories. 

Many retailers have been part of the IPO race over the last few years. Just last month, German online luxury retailer Mytheresa was valued at $2.2 billion in its initial public offering in New York. 

Similarly to Saks, Mytheresa offers ready-to-wear, shoes, bags and accessories for women, men and kids -- from luxury designer brands such as Bottega Veneta, Burberry, Dolce & Gabbana, Fendi, Gucci, Moncler, Prada, and Saint Laurent, to name a few. 

Likewise, Poshmark shares more than doubled in the retailer's public debut equally launched earlier this year, while its resale competitor ThredUp revealed back in October that it had also filed confidentially for an initial public offering.

Unlike fellow long-established department stores like J.C. Penney and Neiman Marcus, Hudson’s Bay has managed to stay clear of bankruptcy amid the Covid-19 pandemic.

Copyright © 2021 FashionNetwork.com All rights reserved.