Canada is experiencing a surge in demand for iconic Hudson’s Bay striped merchandise as the company announces plans to liquidate most of its department stores nationwide. The beloved brand, founded in 1670, has seen sales skyrocket since news of the impending closures was announced.
On eBay, items such as handcrafted wool blankets normally priced at $300 are now being sold for over $1,000. Shoppers are buying up the iconic merchandise to own a piece of Canadian history and national pride. The movement “buy Canadian” has gained momentum amid tariffs from the US and a surge in patriotism.
The company’s fortunes took a downturn after private equity firm NRDC purchased it in 2008, leading to declining sales and a shift towards online shopping. Analysts say the pandemic accelerated this trend, leaving legacy retailers struggling to retain customers.
While some shoppers hope for a second life for Hudson’s Bay, others believe the brand could revive its fortunes by licensing its iconic stripes or opening small boutiques. The resurgence in demand may be a sign of Canada’s affinity for the heritage brand, albeit with select items.
Source: https://www.bbc.com/news/articles/cp315k7pgqro