HBC Case Study

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HBC Case Study

HBC was sold to Jerry Zucker, a US financier in 2004 and later to NRDC Equity Partners in 2018 following the death of Zucker. Both owners employed various competitive strategies to ensure the company remained at the helm of business. Zucker, for instance, sought to revive the company by focusing on improving customer satisfaction as well as firm operations. NRDC Equity partners, who also owned Lord & Taylor, as the United States department store chain, took up the responsibility when Zucker passed on. NRDC’s strategy was revitalizing the firm with better service and better brands.

Under the partners’ leadership, HBC dropped more than 60% of some of its brands and re-launched a new location known as “The Room”. This was in a bid to re-attract its customers. The Room was a push VIP suite located on one of is numerous locations with Toronto consisting of various high-end designers including Chanel, Armani, and Ungaro. Despite the economic recession of 2008, HBC was safe compared to other organizations that were forced to lay off workers. Another advantage that helped HBC stay competitive was becoming Canadian Olympic teams’ official clothing outfitter. The deal valued a 100-million landed HBC the official clothing provider for the years that followed, including 2006, 2008, 2010, and 2012 games. Currently, HBC is struggling to re-invent itself and claim position as the top digital-first retailer. But there are worries that the efforts might be too late, considering that the firm closed down in May 2020 following the 2019 food crisis.

To ensure that successful implementation of strategies, HBC’s CEO and strategic leader, Richard Baker, should be working to ensure that their employees are cautioned from layoffs in the future. If the company is going to attain its goals, they need the support of an able workforce, which is why Baker must see to it that the company operates without having to let go of its employees.