Billionaire Ruby Liu stands with her team, proudly holding the keys to a former Saks Off 5th store at Tsawwassen Mills mall in Tsawwassen, B.C., during a handover event on Thursday, June 26, 2025. This week, a court approved her takeover of leases for three Hudson's Bay properties located in malls she owns. THE CANADIAN PRESS/Darryl Dyck
Ruby Liu, a billionaire entrepreneur from British Columbia, officially took possession of a former Hudson’s Bay store at Tsawwassen Mills Mall in Delta. It marks the beginning of a larger retail vision she’s pursuing across Canada. The shop once housed a Saks OFF 5TH outlet and is the first of several locations Liu plans to transform into vibrant, multi-use destinations.
On Thursday, Liu and her team quietly celebrated the moment, posing for photos while holding signs that read, The Bay handover to Ruby Liu. Few mall-goers noticed, but for Liu, this was a key step in her retail journey.
This Tsawwassen location spans nearly 3,000 square metres and is the smallest among the three leases she has acquired through a court process. An Ontario judge approved Liu’s purchase of the leases in Delta, Victoria, and Nanaimo for $6 million. All three are in malls she already owns.
Liu’s larger ambition includes acquiring an additional 25 leases previously held by Hudson’s Bay stores across the country. However, this plan has met resistance. Some landlords say they’re unsure of her intentions and have expressed concerns in court. Major property firms like Cadillac Fairview, Oxford Properties, and Primaris have raised issues over a lack of clear communication and meaningful planning.
Speaking through a Mandarin interpreter, Liu outlined a flexible vision. She said each location would either become a flagship or a retail outlet under the name Ruby Liu. The decision for which store gets what treatment will depend on factors such as foot traffic, location, and potential sales. Retail stores could be up and running within six months, she said, while flagship locations might take longer due to necessary upgrades and design changes.
To ease landlord concerns, Liu recently sent a letter outlining her financial plans. According to the document, she’s setting aside $84 million for renovations and improvements at the new locations. Another $96 million would go toward building inventory over the next eight months. Liu claims she’s already been in touch with more than 50 former Hudson’s Bay suppliers, many of whom are open to doing business with her again. However, no specific names were disclosed.
She emphasized that any changes beyond traditional retail will only happen with landlord approval. “We’re taking over these leases and respecting how the properties are zoned. Any new elements, like entertainment or dining areas, will only be added if landlords support the idea,” Liu stated.
Her concept blends traditional department store shopping with interactive experiences. Alongside fashion, jewelry, and cosmetics, she envisions her stores featuring kids’ play zones, live entertainment, food spots, and even cosplay areas where visitors can dress up as their favorite characters.
With her first location now in hand, Ruby Liu’s retail makeover is officially underway. All eyes are on how she’ll revive these once-popular shopping spaces and bring something fresh to Canada’s retail scene.
