Hudson’s Bay Co. is exploring a spin-off of Saks.com as a public company, separating the online business from Saks Fifth Avenue’s brick & mortar operation, according to a report from WWD.
The two companies would have an exclusive partnership agreement to continue to collaborate, the report said.
“Hudson’s Bay is meeting with investors now to do a private placement in Saks.com, putting it in a position to do an IPO in the next 12 months,” a source told WWD.
Photo courtesy Saks.com
