Famous Canadian Discount Retailer With Leases Once Sold to Target Corp. To Open Stores Next Year
Famous Canadian Discount Retailer With Leases Once Sold to Target Corp. To Open Stores Next Year
Zellers, the discount Canadian retail chain that once had 220 leases acquired by Target Corp. as part of the U.S. company’s failed Canadian expansion, is being resurrected by HBC.
HBC, the parent company that counts The Bay and Saks Fifth Avenue among its holdings, said shoppers will have something to “zelebrate” by early 2023 when Zellers returns to Canada with a new e-commerce site and Bay locations across the country.
Zellers is planning a “digital-first shopping journey that taps into the nostalgia of the brand” as it expands its footprint in major cities across the country at prime brick-and-mortar Hudson’s Bay locations, according to a statement from HBC.
At launch, Zellers will sell housewares and home decor, furniture, small appliances, toys, pet accessories and a value-driven private brand. Apparel will be introduced later in the year.
“We know how special Zellers is in the hearts and minds of people in Canada,” Adam Powell, chief business officer of Zellers, said in the statement. “Zellers is a brand deeply rooted in the Canadian experience. Spanning generations, people hold distinct connections to Zellers through shared experiences with family and friends, and we look forward to building on that in the future.”
Founded in 1931 in London, Zellers became famous in Canada with a campaign that touted Zellers was “where the lowest price is the law.” The company was acquired by HBC in 1978. Then, after dealing with declining fortunes, some of Zellers lease agreements were sold to Minneapolis-based Target Corp. for $1.825 billion in 2011.
HBC kept 64 locations but eventually liquidated those stores in 2013. Target itself left Canada and closed 133 stores starting in 2015 after recording a nearly $7 billion loss, which many blamed on supply chain issues that kept the company’s shelves bare across the border.
HBC said Zellers locations would open in select Hudson’s Bay stores early next year, but exact locations were not disclosed. Zellers had introduced a pop-up location in Burlington, Ontario, in 2020.
Source CoStar. Click here to read a full story
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