Canadian Tire will begin selling the iconic Hudson's Bay Blankets and has pledged to continue the program started by HBC by donating net proceeds to support Indigenous initiatives.
As part of an expanded partnership between Canadian Tire and the Gord Downie & Chanie Wenjack Fund, the retailer is guaranteeing at least $1 million annually to support Oshki Wupoowane, The Blanket Fund.
The money will be used for grants to support grassroots Indigenous organizations and one-off cultural, arts and educational projects.
Canadian tire acquired the intellectual property of HBCincluding the iconic Hudson Bay stripes, earlier this year for $30 million as part of the retailer's closure. The deal did not include the company's share art, artifacts and archives – some of them will up for auction next month.
Canadian Tire is buying Hudson's Bay's iconic stripes, crests, company names, logos and associated intellectual property in a $30 million deal as Hudson's Bay liquidates its stores and winds down operations.
While HBC blankets are popular among consumers today, they have a problematic history due to their connection to the company's colonial past. Blankets were once used as currency for trade by early European settlers in Canada, but there is oral history that suggests they were used. intentionally spread smallpox to Indigenous communities in the 1700s and 1800s.
The Blanket Foundation was created in 2022 as a truth and reconciliation effort with an initial investment of $1 million from the Hudson's Bay Foundation and a commitment to donate 100 percent of net proceeds from the sale of Hudson's Bay Blankets to the foundation.
“We are exceptionally proud to be stewards of HBC's legacy and, as one of the country's oldest companies, we do not take this responsibility lightly,” said Greg Hicks, President and CEO of Canadian Tire. in the statement.
“The Hudson's Bay Blanket is a Canadian icon with a complex history, and through our deeper relationship with [the Gord Downie & Chanie Wenjack Fund]We are committed to ensuring the preservation of its culture and meaningful reconciliation for future generations.”
