The move to separate the discounted designer retailer’s digital business from brick-and-mortar comes after Saks Fifth Avenue brokered the same deal with its stores and online business, according to the New York Post.
SAKS FIFTH AVENUE IS THE LATEST RETAILER TO STOP SELLING FUR
“With a unique market position and on the heels of explosive growth, we are excited to establish Saks OFF 5TH as the preeminent digitally native luxury off-price retailer,” HBC’s Governor, Executive Chairman and CEO Richard Baker said in a statement.
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“Saks OFF 5TH has a significant opportunity to capture additional market share by further expanding its digital capabilities.”
Discounted retailers have ramped up e-commerce during the coronavirus pandemic, as more consumers shopped online at home. TJ Maxx announced last year it was rolling out e-commerce for affordable home furnishings store Home Goods, and discounted luxury department story Century 21 said earlier this year it was relaunching stores after going bankrupt in 2020.
