Hudson’s Bay to open up to 20 new stores in Netherlands

17 May 2016 (Last Updated May 17th, 2016 18:30)

Canadian retailer Hudson's Bay Company (HBC) has announced plans to open up to 20 new stores in the Netherlands over the next two years.

Canadian retailer Hudson's Bay Company (HBC) has announced plans to open up to 20 new stores in the Netherlands over the next two years.

This move is a part of its expansion plans in Europe, and will create nearly 2,500 jobs in stores and 2,500 construction jobs.

HBC already operates in Belguim and intends to invest around $340m in its Dutch operations.

"HBC intends to invest around $340m for the Netherlands expansion."

Last year, major Dutch department store chain V&D went bankrupt. Therefore, HBC's announcement is seen as a positive sign in the retail landscape.

HBC is planning to open a flagship store in Amsterdam's Rokin area and plans to lease locations previously occupied by V&D stores.

The company also owns Saks Fifth Avenue, a US luxury retail chain.