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buy prada bags online closes.Hudson's Bay acquiring Saks forThe acquisition combines three department store brands Hudson's Bay, Lord Taylor and Saks Fifth Avenue and creates a North American upscale retailing behemoth with 320 stores in some of the biggest and most populous cities in the United States and Canada.Lord Taylor and Hudson's Bay, Canada's biggest department store chain, both cater to well heeled shoppers who can afford $98 Free People blouses and $250 Coach handbags. Saks customers, on the other hand, are more affluent and can shell out $800 for Christian Louboutin heels or thousands of dollars for Gucci handbags.During a conference call with investors Monday, Hudson's Bay Chairman and Chief Executive Officer Richard Baker said the goal is to bring the Saks luxury brand into Canada. The company plans to open seven Saks Fifth Avenue stores and 25 Off Fifth outlet stores in Canada, while creating a Saks Web site targeted to Canadians. Hudson's Bay also plans to renovate Saks stores and to make the brand more "luxurious.""With the addition of Saks, Hudson's Bay will offer consumers an unprecedented range of retailing categories and shopping experiences," Baker said.Hudson's Bay is making a play for luxury at a time when shoppers still appear to be willing to shell out money for posh handbags and clothing despite global economic challenges. Global luxury sales, including higher end jewelry and clothes, rose an estimated 10 percent to $282 billion last year, according to the latest study from Bain Co. In North American, luxury sales were up an estimated 12 percent to $81 billion.Still, Saks has lagged behind its peers in the luxury sector. It's been trying to keep up with rivals Neiman Marcus and Nordstrom, which have performed well post recession.Hudson Group to Open Upscale Shops in JFK Terminal 4The program includes five new specialty shops featuring fashion icons Michael Kors, Coach, Thomas Pink, Solstice and Victoria's Secret and seven new Hudson travel essentials stores, as well as a Discover New York souvenir shop.Coach New York features the award winning styles of this iconic American brand, established in 1941. The collection includes classic and colorful handbags, small