It looks like Canadian fashion cornerstone Holt Renfrew is launching a slight counterattack on American fashion giant Nordstrom. According to The Globe and Mail, Holts has released plans to open a series of lower-priced stores, named hr2, early next year. The news comes just as Nordstrom sets plans to move north in 2014. Coincidence?
The new budget-conscious chain will be aimed at the younger shoppers who crave those flashy, high fashion pieces with a lighter price tag. Hr2 resembles Nordstrom Rack, the lower-end spinoff of Nordstrom. The first hr2 is slated to open in Montreal in March 2013, with an undisclosed location in Ontario receiving a store of its own around the same time.
By the end of 2015, hr2 is expected to have a heavy national presence, so it’s safe to say it’ll be like an H&M in no time.
