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Ruby Liu Revives Canadian Retail: Launches First Store in Former Bay Location

Prime Highlights

  • B.C. billionaire Ruby Liu takes keys to first retailing space at Tsawwassen Mills, Delta.
  • Plants to reopen former Bay stores under her own chain of “Ruby Liu” department stores.

Key Fact

  • Liu received court approval to buy three Hudson’s Bay tenancies for CAD 6 million.
  • Her plans involve CAD 84 million worth of refurbishments and CAD 96 million in new merchandise.

Key Background

British Columbia real estate tycoon and billionaire Ruby Liu formally entered Canada’s retail scene on June 26 when she purchased her first retail unit, a shuttered Saks OFF 5th store at Tsawwassen Mills in Delta. The more than 3,000 square meter department store is the launching platform for Liu’s plans to reopen shuttered department store stores in Canada under her own brand: “Ruby Liu.”

Liu’s acquisition comes after an Ontario court’s sanction of her offer to acquire three Hudson’s Bay leases for CAD 6 million. Sites cleared by the court are Delta’s Tsawwassen Mills, Victoria’s Mayfair Shopping Centre, and Nanaimo’s Woodgrove Centre. They are all mall sites owned by Liu, which allows her full control she needs over the redevelopment of store space.

Her long-term plan is to reopen 28 of the closed Hudson’s Bay locations that were among a broad sweep of retail consolidation. She spent CAD 84 million on renovation and another CAD 96 million on inventory. There are two store formats in the pipeline for the “Ruby Liu” stores: small community-focused stores that can be opened in three to six months, and big flagships that require heavy renovation and more time.

In spite of judicial backing, Liu’s roll-out meets resistance. A few mall landlords—some of whom are some of the biggest players in Canada’s real estate market—have questioned her business model, store strategy, and openness. These landlords, whose malls are home to the other 25 targeted leases, have not committed to her plans, leaving one wondering about the entire roll-out.

Hudson’s Bay’s recent shuttering of over 80 stores—Bay, Saks Fifth Avenue, and Saks OFF 5th included—created a huge retail void. With the brand names listed for sale to Canadian Tire, Liu’s acquisition of the remaining leases is a chance to reimagine Canadian department stores with fresh vigor, cultural integration, and entrepreneurial spirit.