It seems Hudson’s Bay Company (HBC) is the anchor of anchors of Canadian retail history. This summer, it experienced an unexpected boom—especially in demand for its signature striped wares. The news comes on the heels of the company’s recent announcement that it will be liquidating its remaining department stores across the country. With this decision, a whole new world has opened up for consumers and collectors. The HBC stripes were formerly seen as a favourable reminder of Canada’s colourful past. Today, vintage blankets are selling for upwards of C $1,000 on sites like eBay, fetching jaw-dropping prices!
Founded in 1670, HBC was granted a royal charter to monopolize trade in the area that would become Canada. Established in 1778, the company originally operated by trading woolen “point” blankets with indigenous communities. These blankets were woven with broad, colorful stripes in arresting colors—indigo, red, canary yellow and emerald green. In 1929, HBC first began mass-producing these blankets on a retail scale. This was just the start of a new chapter in which the company continued to grow its catalog.
By the 1920s, HBC’s signature striped patterns had completely changed the face of home décor. They quickly dug their heels deep into the Canadian consciousness. These past few years haven’t been kind to Hudson’s Bay. The company was unable to fulfill financial commitments to landlords and vendors. In 2008 it was eventually bought up by the private equity conglomerate NRDC. This acquisition was the high-water mark though, as NRDC took the most Canadian retailer of all and made it a potentially less-Canadianized brand.
As consumer shopping preferences shifted through the pandemic, Hudson’s Bay was having a harder time keeping customers home. Even legacy retailers such as Sears and HBC had a difficult if not impossible time changing to their retail landscape and changing shopping patterns. The pandemic only sped up this transition, forcing retailers to adapt as foot traffic and sales in brick-and-mortar locations sharply declined.
Now, despite all of this and more, after HBC announced its plans to liquidate, the company saw sales of its striped apparel skyrocket. The company has since announced plans to shutter half of its locations. Consequently, consumers perceive an immediate harm if they don’t have the opportunity to purchase this extremely popular gear.
Kate Thornley-Hall, an authority on emerging retail trends, reminiscing on what these stripes meant, said.
“It’s an enduring reminder of the pivotal role that the Hudson’s Bay played in the development of our country.”
As a Canadian, it’s hard not to feel deeply inspired by this message. To them, the HBC stripes are national identity symbols, not just commercial products. This surge in demand has allowed HBC to pay off some of its liabilities. The result is they’ve been able to, one by one, stop the liquidation of six stores.
Bruce Winder, a retail consultant with Bruce Winder Retail, qualified the sale by its deep ties to Canadian consumers and the HBC brand. He noted,
“I think it tells us that the brand has some affinity in Canada, albeit probably with select items, based on their heritage.”
Yet even with this short-lived bounceback in sales, the company is still experiencing overwhelming financial challenges. Hudson’s Bay now has about $933 million owed to creditors.