In a bustling Metro Vancouver shopping mall, Ruby Weihong Liu, a prominent billionaire entrepreneur, is making headlines with her ambitious plans to acquire leases from Hudson's Bay. On a recent weekend, shoppers gathered at Tsawwassen Mills for a children's modeling contest, but it was Liu's presence that drew attention. Known for her dynamic energy, she mingled with influencers while discussing her vision for transforming the assets of Canada’s oldest retailer.

Liu is the founder of Central Walk, a B.C.-based real estate investment firm that purchased Tsawwassen Mills in 2022. As Hudson's Bay navigates creditor protection proceedings, Liu's bid is one of 12 competing for a total of 39 leases. On the same day that Hudson's Bay announced it would decide on potential buyers in early to mid-June, Liu's team invited media to cover the modeling event, although they cautioned that she could not disclose specifics about the bidding process.

"I can only say we are in the final stages of finalizing everything. We have our own legal counsel talking to the (court) monitor, the Bay’s counsel, and everybody is working very hard together and going through the last stage of the bidding procedure," Liu stated in Mandarin.

While details of her bid remain under wraps, Liu has expressed her intention to open over 20 retail stores across Canada, targeting locations in British Columbia, Alberta, and Ontario. If successful, the Hudson's Bay leases could become a cornerstone of her retail empire. During the modeling contest, she showcased a potential logo design for her new business, featuring a large pink jewel and the name "Ruby Liu: A New Bay."

This announcement comes shortly after Canadian Tire Corp. Ltd. revealed plans to purchase the rights to Hudson's Bay's iconic branding for $30 million. Canadian Tire's president, Greg Hicks, emphasized the historical significance of both companies, stating, "Some things are just meant to stay Canadian and we are honoured to welcome many of HBC’s leading brands."

Liu confirmed that Central Walk also aimed to acquire Hudson's Bay's intellectual property but acknowledged the challenges posed by Canadian Tire's financial strength. "We wanted to buy this as well. But Canadian Tire is a giant company with deep pockets and we are a smaller company. It’s also the pride of Canada. They offered more money," she explained.

Despite this setback, Liu remains optimistic. She believes that using the name "The New Bay" for her stores will not lead to legal complications and insists that innovative approaches are essential for attracting consumers in a changing retail landscape.

Liu's journey in Canada began in 2014, and she became a permanent resident in 2017. Her company previously sold a 1.5-million-square-foot mall in Shenzhen for approximately $1.25 billion. Since then, she has acquired several shopping centers, including Woodgrove Centre in Nanaimo and Mayfair Shopping Centre in Victoria.

Retail consultant Craig Patterson, who has been observing Central Walk's rapid rise, noted the transformation of Tsawwassen Mills into a vibrant entertainment hub. "I was really impressed. It’s an experiential mall and it was packed," he remarked. However, he cautioned that some landlords at Hudson's Bay locations may prefer to retain their leases, and other bidders, including Canadian Tire, are also in the mix.

Liu is eager to share her story with the Canadian public. Born near Harbin, China, she moved to Shenzhen, where she built her business empire. In a recent interview, she addressed allegations that she serves as a "white glove" for wealthy investors seeking to bypass regulatory controls. Liu firmly denied these claims, asserting they are unfounded and lack evidence.