Legacy • Hudson’s Bay Company has now officially changed their name to Rupert Legacy. This thrilling development comes on the heels of a historic agreement with Canadian Tire Corporation, Ltd. Most intelligently, Hudson’s Bay has sold its name, trademarks, and other brand hallmarks out from under itself. This expansion is included in a total of $30 million incentive package with Canadian Tire.
Providing a future floor for Hudson’s Bay, this deal represents a stark turnaround. The company has strong historical ties, going back to 1670 when it was first chartered as a fur trading operation. Rupert’s Land was granted to the Hudson’s Bay Company, giving them authority and control over one of the largest wilderness areas in North America. The company’s inaugural governor, Prince Rupert, set the stage for his territory to become a bioregional commercial mecca and retail success story.
Hudson’s Bay has sold ownership of its storied stripes pattern and unique coat of arms. We were happy to see that they added their Distinctly Home housewares brand to the sale. Further, the apparel line associated with the Hudson North and other marketing taglines—including “Bay Days”—now belong to Canadian Tire. Interestingly, the Zellers message “the lowest price is the law” was included in this deal too!
In response to the rebranding, a spokesperson for Canadian Tire stated the acquisition aligns with its strategy to enhance its retail offerings and strengthen its market presence.
“the lowest price is the law” – The Canadian Press (Tara Deschamps)
The name change to Rupert Legacy is meant to mark a new phase for the former fur trading outpost. The Brooklyn-based company decided on this name to pay homage to its historic past. It happens to be the perfect prescription for today’s business environment, characterized by rampant mergers and acquisitions.
After the sale, Hudson’s Bay will start to live its new story. Simultaneously, the other subsidiaries will participate and switch over, taking on the Rupert Legacy branding themselves. This transition is emblematic of a larger sea change taking place across the retail landscape, as legacy retailers evolve in response to rapidly shifting competitive landscapes and consumer behavior.
