Saks Fifth Avenue is going to replace (and transform) The Bay at Yonge and Bloor

Watch out, Holts: another luxury department store is staking its claim on the Mink Mile. Saks Fifth Avenue—which was recently snapped up by Hudson’s Bay Company— is planning to hoist their Canadian flagship at Yonge and Bloor Streets. Saks will be replacing the concrete-clad Bay location, which has been looking a little neglected while HBC poured love into its Queen West store. The mammoth space—Hudson’s Bay CEO was quick to point out to ROB that it’s “double the size of Holt’s”—will make it the world’s second largest Saks after the one on its namesake avenue in New York. The new owners are expecting to transform the space quickly, both inside and out, giving it a white façade with large glass sheets facing the street. No opening date is set, but we’re hoping that December 2014’s Christmas window showdown is going to be off the (gold) chain. [Report on Business]