The Hudsons Bay Company, commonly referred to as The Bay, is a Canadian retail business group. HBCs head office is in the Simpson Tower in Toronto, Ontario, the company is listed on the Toronto Stock Exchange under the symbol HBC. It was once the worlds largest landowner, with the area of the Hudson Bay watershed, known as Ruperts Land, having 15% of North American acreage. From its long-time headquarters at York Factory on Hudson Bay, the company controlled the fur trade throughout much of the English, undertaking early exploration, its traders and trappers forged relationships with many groups of aboriginal peoples. Its network of trading posts formed the nucleus for later official authority in areas of Western Canada. By the mid-19th century, the company evolved into a business selling everything from furs to fine homeware. They quickly introduced a new type of client to the HBC – one that shopped for pleasure and not with skins, in July 2008, HBC was acquired by NRDC Equity Partners, which also owns the upmarket American department store Lord & Taylor. From 2008 to 2012, the HBC was run through a company of NRDC, Hudsons Bay Trading Company. Since 2012, the HBC directly oversees its Canadian subsidiaries Hudsons Bay and Home Outfitters, on 29 July 2013, the HBC announced its takeover of Saks, Inc. operator of the Saks Fifth Avenue brand. The merger was completed on 3 November 2013, in September 2015, HBC acquired the German department store chain Galeria Kaufhof and its Belgian subsidiary from Metro Group for $3.2 billion U. S. In May 2016, HBC announced it would expand to the Netherlands by taking over up to 20 former Vroom & Dreesmann sites by 2017, v&D was an historic Dutch department store chain that went bankrupt and shut down in early 2016. HBC said the expansion would cost CAD $340 million and create 2,500 jobs in the stores, the Dutch stores would operate under the Hudsons Bay and Saks Off Fifth brands. In January 2016, HBC announced it would also expand deeper in the space with its acquisition of online flash sales site. In the 17th century the French had a de facto monopoly on the Canadian fur trade with their colony of New France. Assuming this was Hudson Bay, they sought French backing for a plan to set up a trading post on the Bay, despite this refusal, in 1659 Radisson and Groseilliers set out for the upper Great Lakes basin. A year later returned with premium furs, evidence of the potential of the Hudson Bay region. Subsequently, they were arrested for trading without a licence and fined, determined to establish trade in the Hudson Bay, Radisson and Groseilliers approached a group of businessmen in Boston, Massachusetts to help finance their explorations. The Bostonians agreed on the plans merits but their speculative voyage in 1663 failed when their ship ran into pack ice in Hudson Strait, boston-based English commissioner Colonel George Cartwright learned of the expedition and brought the two to England to raise financing
Logo on old fur trading fort.
Trading at a Hudson's Bay Company trading post.
Hudson's Bay Company officials in an express canoe crossing a lake, 1825