Many assumed Hudson’s Bay Company—North America’s oldest business—was beyond saving when it filed for bankruptcy early this year.
But in a stunning twist, Chinese-born Canadian billionaire Weihong Liu is poised to buy a large chunk of the retailer—and may revive its most iconic department: beauty. Her modern, Asia-inspired vision could turn The Bay from fading legacy to future-forward brand. With deep-pocketed ambition and global retail savvy, Liu is shaking up assumptions.
Is this really the end—or just the next chapteranada’s homegrown beauty brands. Could this unlikely acquisition breathe new life into a dying icon?
Hudson’s Bay Was Beauty’s Biggest Stage in Canada
Long before its downfall, Hudson’s Bay was a beauty powerhouse. It gave indie Canadian brands rare visibility alongside global giants like Chanel and Dior. For many, getting stocked here was a rite of passage—Luna Nectar called it a “milestone moment.” And with iconic sales like Bay Days, the store made luxury beauty surprisingly affordable. As the doors shut, one industry felt the loss first.
A Bold Retail Overhaul, Inspired by Asia
Liu isn’t just trying to save The Bay—she wants to reimagine it. Her vision draws from top Asian department stores that blur the line between physical and digital shopping. Think AI-powered beauty tools, interactive counters, and curated “clean beauty” hubs.
This fresh take mirrors what modern shoppers—especially Gen Z—already want. If Liu succeeds, Hudson’s Bay could set a new global standard.
But who exactly is the woman driving this high-stakes rescue?
Meet the Billionaire Betting Big on The Bay
Weihong Liu is no stranger to retail. The Nanaimo-based billionaire runs Central Walk, which owns some of B.C.’s largest malls. She’s been quietly touring Hudson’s Bay stores, filming her visits for Chinese social media, and expressing deep personal ties to the brand.
In her own words, she “can’t stand by and watch” it fall. Her bold, emotional pitch is already gaining traction.
Now, let’s look at just how far the company has fallen.
How a Canadian Icon Crumbled So Fast
Hudson’s Bay entered restructuring in March, hit hard by tariffs, changing consumer habits, and weak discretionary spending. Within weeks, it announced the closure of its last stores—including six Hudson’s Bay and one Saks Fifth Avenue—set to shutter by June 15.
The news felt historic. Founded in 1670, the company predates Canada itself. Its rapid downfall marks not just a retail loss, but the unraveling of a national legacy. Yet behind the scenes, Liu was already planning a revival.
Beauty Brands Left in the Lurch
For many Canadian beauty entrepreneurs, Hudson’s Bay was more than a store—it was a launchpad. Brands like Luna Nectar and Graydon Skincare say getting stocked there brought credibility and community trust. Major players like Estée Lauder also depended on The Bay’s reach.
Its collapse has forced brands to rethink how—and where—they connect with Canadian shoppers. That’s why Liu’s interest in beauty matters: it could restore a vital platform and reshape how beauty is sold nationwide.
A Fresh Retail Vision for a Changing Market
The beauty industry is evolving fast—and Liu seems ready to meet the moment. In 2025, 77% of professionals say AI is reshaping beauty shopping through personalized experiences. Gen Z demands sustainability, with nearly 68% prioritizing eco-friendly brands.
Clean, natural ingredients are more sought after than ever. Liu’s East-meets-West approach could merge cutting-edge tech with time-tested retail charm. If she succeeds, Hudson’s Bay might not just survive—it could become a leader in next-gen beauty retail.
From Fur Trading to Future-Forward Beauty
Hudson’s Bay Company was founded as a fur trading post, and over its long history, it’s had a remarkable ability to evolve. As Canada’s oldest company, it weathered countless changes, from colonial days to industrialization. But the future of retail isn’t about what worked in the past—it’s about what can connect with the modern shopper.
Under Liu’s potential ownership, beauty could be the perfect fit, bridging history with a forward-thinking approach. Could this reinvention mean more than just a store? It might be the start of a bold new era for the company.
What’s Next for the Brand’s Legacy?
As Liu explores her plans for the future of Hudson’s Bay, one thing is clear: it’s not just about beauty—it’s about revitalizing an entire retail experience. The next steps could include redefining what it means to shop at a Canadian icon.
Whether through digital innovation or experiential spaces, the future of Hudson’s Bay is still up for grabs. Can a company built on centuries-old history stay relevant in an age of tech-savvy, eco-conscious consumers? The answer might just lie in how Liu blends tradition with transformation.
Real Estate Strategy and Financial Commitment
Liu’s bid for Hudson’s Bay goes beyond just acquiring its stores—it includes securing the intellectual property that would allow her to operate under the renowned Hudson’s Bay name. This would provide access to the brand’s valuable trademarks, such as the iconic multi-stripe logo.
However, significant challenges loom, particularly with premium real estate and the high costs associated with maintaining such historic locations.
For instance, the Queen Street flagship store in Toronto faces costly infrastructure issues, including plumbing, requiring millions in investment. To help fund these renovations, Liu recently placed Woodgrove Centre on the market, showing her serious commitment to revitalizing the brand.
A New Chapter in Canadian Retail History
As Liu looks toward the future, the possibilities for Hudson’s Bay seem endless. Could we witness a complete reinvention, where the brand merges history, sustainability, and cutting-edge trends? The potential for Hudson’s Bay to become a modern leader in Canadian retail is real, with Liu’s innovative vision offering a glimmer of hope.
Whether embracing beauty, sustainability, or even new digital strategies, the future holds exciting opportunities for both the retailer and its loyal customers. What role will Hudson’s Bay play in shaping the retail world for the next generation?
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