Iain Nairn says one of his initial focuses will be to intensify efforts to lure millennials
Hudson’s Bay Co. named Iain Nairn as president of its namesake Canadian department-store chain, and he said one of his initial focuses will be to intensify efforts to lure millennials.
In an interview, Nairn said he’ll be accelerating strategies already in place for the chain’s product mix, including reducing some brands and introducing others. Earlier this month, HBC minority shareholders including Catalyst Capital Group Inc. won a months-long battle to secure a higher price for the company, which also owns Saks Fifth Avenue, after Chairman Richard Baker and allies sweetened their take-private bid. That valued the struggling Canadian retailer at about $2 billion . Catalyst, a Toronto-based private equity firm, agreed to support the new deal, but still has the right to terminate the agreement under certain circumstances.
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