Hudson's Bay : Case Study : The Hudson Bay Company

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About the Company The Hudson’s Bay Company is a global retailer who has been around since 1670, making them the oldest company in North America. HBC is known for their department stores, with more than 480 stores and over 66,000 employees worldwide. In 2016, HBC had $3.3 billion sales in Canada, $6.4 billion in North America, and $4.8 billion sales in Europe. HBC also has a popular e-commerce site which was launched in 2000. In North America and Europe, HBC has 10 banners which are Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Gilt, Saks OFF 5TH, Find @ Lord & Taylor, Home Outfitters, GALERIA Kaufhof, Galeria INNO, and Sportarena. These banners had a digital sales growth of 16.6% in 2016. History During the 17th century, trading of fur became a major commercial enterprise in North America due to demand for felt hats made from beaver fur. Two French traders named Médard Chouart des Groseilliers and Pierre-Esprit Radisson were the first to propose a trading company. They used the Hudson Bay to gain easier access to the demanded fur resources of the interior of Canada. They tried to gain French support on their terms, but they failed. After this they went to England in 1665 to attempt to gain the support of Prince Rupert, cousin of Charles II. Médard and Pierre-Esprit got an interested Rupert to persuade the king, several merchants and noblemen to back the trading company. In May 1670 they acquired the Royal Charter which granted the lands of the Hudson Bay. The Royal

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