preview

The Hudson's Bay Company (HBC)

Satisfactory Essays

In 1670 Pierre-Esprit Radisson and Médard des Groseilliersare founded The Hudson's Bay Company in May 2, 1670 making it the oldest incorporated joint stock merchandising company in the English-speaking world. King Charles II granted Radisson and Groseilliersare to trade furs in the Hudson Bay area, and since they were trading there, they named their trading posts The Hudson's Bay Company (Or HBC).

In 1670 The Hudson's Bay Company started building trade posts along the Hudson and James' Bay. In 1673 the first trading post was complete, and it was named the Moose Factory. The Hudson's Bay Company built another location in 1674 named Fort Albany. The Hudson's Bay Company then builds Fort Severn in 1680 then 4 years later they built York Factory …show more content…

Both companies were very successful, and both were always trying to outdo each other. They would compete on who sells more furs in a year. In 1780, The Hudson's Bay Company made their iconic blanket that now sells for hundreds of dollars.

In 1821 the rivalry between The Hudson's Bay Company and The North-West Company of Montreal became so bad that several minor armed skirmishes (which means a war with very little men) broke out between the two. This lead the British Government having to step in and force the two companies the merge together, but under The Hudson's Bay Company's name. This gave the two companies 173 forts and 7.8 million square kilometers of land.

In 1881 The Hudson's Bay Company produced their first mail order catalogue and opened their first retail store in Winnipeg, Manitoba. In the 1900s, The Hudson's Bay Company started to expand a chain of stores through Western Canada. The company then started to buy several other companies like Morgan Department stores in 1960 and while buying companies, they also started to expand through East Canada. In 1964 The Hudson's Bay Company becomes the name that they are known as today, The

Get Access