(MENAFN- AFP) Canadian department store chain Hudson's Bay Company (HBC) is planning to open 20 outlets in the Netherlands, a few months after acquiring German group Galeria Kaufhof, its chairman Richard Baker said in a newspaper interview Wednesday.
"Initially, we're planning for around 20 sites and will then look at what other opportunities for expansion there are," Baker told the business daily Handelsblatt.
In a statement, the company, which owns the US brand Saks Fifth Avenue, said it "has finalized and is in the process of finalizing long term leases for select, sought after locations."
The group is taking over stores previously occupied by the now-defunct Dutch chain, Vroom & Dreesmann.
The first stores were expected to launch in the summer of 2017 and operate under the Hudson's Bay banner as well as the Saks OFF 5TH banner.
"The expansion into the Netherlands will build on HBC Europe's existing infrastructure and will utilize the same platforms such as information technology, procurement and digital support," it said.
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