 Following the IPO, HBC had also introduced a new corporate logo of its own (reviving a wordmark from the original HBC flag), but the new logo was not intended to be a consumer-facing brand.On 29 July 2013, Hudson's Bay Company announced that it would buy Saks, Inc., operator of the U.S. Saks Fifth Avenue brand, for US$2.9 billion, or $16 per share.The merger was completed on 3 November 2013.