With the arrival of Saks Fifth Avenue as well as Nordstrom in Canada, Holt Renfrew will try to take some edge against the competition by their venture in e-commerce.
This move is strategically ahead of The Hudson’s Bay’s intent to launch a new e-commerce website that will have the retailer teaming up with Saks Fifth Avenue’s e commerce team. Saks is set to be Holt Renfrew’s biggest competition as they both retail many items from the same set of luxury brands.
Meanwhile, Nordstrom has been reportedly planning to have their own Canadian site though no specific date or timetable has been mentioned.
Holt Renfrew’s CEO Mark Derbyshire promises that this new offer from the Canadian retail giant will not disappoint the customers.
In his interview with Hollie Shaw of Financial Post, Derbyshire says, “The [online] team we have assembled is a fantastic team. It is going to be one of the most innovative sites I can imagine. I am building up high expectations, and that’s good.”