Who Is Ruby Liu—and Where Did Her Wealth Come From?
Ruby Liu (also known as Weihong Liu) is a Chinese-born entrepreneur who relocated to Canada in 2014 and became a permanent resident in 2017. As chairwoman of Central Walk—a real estate investment firm based in Richmond, B.C.—she owns three major shopping centres across British Columbia: Woodgrove Centre, Mayfair Shopping Centre, and Tsawwassen Mills. Liu and her brother became billionaires after selling a 1.5 million-square-foot mall in Shenzhen to Link REIT in 2019 for over US $1 billion. Their success in Asia, followed by strategic acquisitions in Canada, gave her both capital and practical experience in developing retail real estate.
What’s the Vision—and Why Does She Think It Can Work?
Liu’s acquisition of up to 28 former Hudson’s Bay and Saks department store leases is rooted in observation and adaptation. During interviews, she emphasized that the rise of online shopping has dramatically transformed retail—forcing brick-and-mortar locations to offer something more than just products. She draws inspiration from Thailand, where department stores seamlessly blend shopping with dining, entertainment, cultural programming, and social spaces—especially attractive to younger consumers. Though she didn’t name specific Thai malls, her reference aligns with venues like Bangkok’s Terminal 21 or Siam Paragon, known for their experiential, youth-focused atmospheres.
Her plan includes launching stores under the “Ruby Liu” brand offering apparel, beauty, jewelry, dining, family and cosplay zones, and event spaces—designed to attract Gen Z and families. She also mentioned rehiring former Hudson’s Bay staff and facilitating job fairs as a community-centred launch strategy.
Implications for Canadian Shoppers and Landlords
For Shoppers
Liu’s approach responds directly to shifting consumer behaviour. As online shopping grows, her stores aim to provide an immersive, multi-purpose experience—integrating retail with social spaces, interactive zones, family entertainment, and community events. This model seeks to encourage repeat visits, even in a digital-first era.
She highlights the importance of community engagement and has framed her stores as places where families and youth can gather, socialize, and participate in events—not just shop. Additionally, her commitment to rehiring former Bay employees could help cushion the job losses from Hudson’s Bay’s closures—bringing social benefit through employment.
For Landlords
While several major landlords have objected—citing concerns over financing, experience, and lack of detailed plans—three leases have been approved in malls Liu already owns.
Many landlords are already exploring community-focused retail and mixed-use strategies, and Liu may bring valuable global insight to accelerate these efforts. However, success will depend on collaboration: landlords will need to conduct thorough due diligence, ensuring her plans are supported by clear operational blueprints and sufficient capital.
If execution proves effective, this could pave the way for a broader trend—where anchor spaces are repurposed to include dining, youth programming, child-friendly features, and community events—not simply as premium eateries, but as vibrant cultural and social destinations.
Final Thoughts
Ruby Liu’s plan isn’t groundbreaking—it builds on already evolving trends in experiential retail—but it does bring international perspective and fresh capital to the Canadian context. She knows the retail landscape has shifted dramatically due to e-commerce, and she’s betting that focus on young shoppers, social interaction, and experiential environments will be critical to any brick-and-mortar future.
That said, her lack of direct retail operations experience remains a legitimate concern. A phased rollout—one or two successful locations supported by adequate investment and strategic execution—will likely be critical to establishing credibility and gaining landlord and public confidence.
Sources:
[1] https://en.wikipedia.org/wiki/Ruby_Liu
[2] https://www.vancouverisawesome.com/the-mix/bc-billionaire-ruby-liu-gets-keys-to-first-retail-store-once-owned-by-the-bay-10871206
[3] https://www.cbc.ca/news/business/hudsons-bay-store-ruby-liu-1.7220843
[4] https://www.citynews.ca/2025/06/24/b-c-chinese-billionaire-wants-to-revamp-canadian-department-stores-through-hudsons-bay-acquired-leases
[5] https://globalnews.ca/news/11266007/b-c-billionaire-take-over-bay-leases-legal-battle
