It looks like Hudson’s Bay is going all-in on the “high end” retail market.

There are reports that HBC has reached a deal to buy American retailer Neiman Marcus.

Both the Wall Street Journal and the New York Times say multiple sources indicate the Toronto-based company will pay $2.65-billion U-S for the store chain.

But some analysts doubt the move will improve the fortunes of the struggling Canadian brand.

HBC already owns American retailer Saks Fifth Avenue and Saks off Fifth, meaning this latest acquisition will create a sort of “fashion powerhouse.”