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Case Study: Hudson’s Bay Company: From Fur to Fendi to an Uneasy Future Alex Lai Toronto Metropolitan University GMS200-091 Nov 13, 2022

2. Describe the competitive strategy used by HBC after its sale to Zucker and NRDC. What strategy is HBC adopting now? The competitive strategy used by HBC after its sale to Zucker was to focus on improving operations as well as customer satisfaction. However, the company was once again bought by NRDC Equity Partner, a U.S private equity firm after Zucker’s death in 2008. The strategy NRDC used to compete with other big companies was the differentiation strategy. They plan on reviving the brand by improving their product and service. NRDC dropped over 60 percent of its former brand as well as launching its VIP suite, “The Room” which includes high-end designers. This plan was to reattract and bring back the customers. Luckily, the differentiation strategy was successful when HBC became an official clothing partner for Canada’s Winter Olympics through 2020. Since HBC apparel for the 2010 Vancouver Winter Olympics was extremely popular, they were able to bring in new customers as well as their loyal ones who did not shop for years. As of right now, HBC is bringing British-based “cheap-thic” into their store as well as making the retailer the country’s “top seller of women’s shoes.” In 2016, HBC announced the acquirer of Gilt Groupe, an online flash sale. The company was hoping this idea will “contribute to $500 million into their fiscal year.” Additionally, HBC used a growth strategy to expand its brand to Europe. They opened 20 Hudson’s Bay and Saks Off Fifth stores in the Netherlands. Unfortunately, in 2018 five million confidential debit and cards transaction were hacked. It affected the transaction at Saks Fifth Avenue and Lord & Taylor stores. As a result, all the stores in Europe had to close after Lords & Taylor stores were sold. Overall, both Zucker and NRDC used the strategy by using a differentiation strategy. They both were trying to revive the brand as well as adjust operations. However, NRDC also used growth strategies as an attempt for individuals to recognize the brand globally. According

to then- CEO Helena Foulkes, it seems like “the strategy well remains the same.” If a public or private company purchases HBC, it will still plan on using differentiation strategy to make changes to its operations as well as attempting to bring back loyal and new customers. 3. What types of things should Richard Baker, as HBC’s CEO and “strategic leader,” be doing with respect to the company’s employees to ensure successful strategy implementation? Richard Baker must ensure the company’s employees are motivated to work for the strategy implantation to succeed. They must show their commitment by using their knowledge and talent to complete all the required tasks while contributing to the company. Since Baker is HBC’s CEO and “strategic leader,” he needs to be an effective leader. With his authority, Baker must ensure the team can execute its performance at the highest level. If Baker believes the team is not performing well, he needs to be honest and give them feedback on how they can improve in future events. However, Baker needs to keep a positive relationship with the company’s employees. For Baker to earn employees’ trust, he can provide support and help them complete their tasks if they have difficulty with it. He must show respect towards them by treating the equally and warm and supportive. To add on, he will need to accept certain responsibilities and tasks rather than giving all of them to the employees. This will be extremely stressful since they have other important work to complete. In conclusion, with all the types of thing that Baker has to become a strategic leader, the operation will become successful once the strategy is implemented.

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