Thailand’s Central Group and Austria-based Signa Holding have successfully completed their acquisition of the renowned luxury retailer, Selfridges Group, from the Weston Family. This acquisition encompasses the iconic Selfridges store in the UK, as well as Brown Thomas and Arnotts in Ireland, and De Bijenkorf in the Netherlands. These esteemed establishments will now become integrated into Central and Signa’s existing portfolio of 22 luxury department stores. Additionally, the conglomerate is planning to open two new stores in Dusseldorf and Vienna.
The inclusion of the Selfridges Group propels the conglomerate to new heights, joining the ranks of other notable luxury department stores such as Central’s Rinascente in Italy, Illum in Denmark, and the Central-Signa jointly owned KaDeWe, Oberpollinger, and Alsterhaus in Germany, along with Globus in Switzerland. Stefano Della Valle, the CEO of Central and Signa’s luxury department store group in Europe, will expand his responsibilities and oversee the leadership of the Selfridges Group. However, the current Managing Director of Selfridges, Anne Pitcher, will remain a valuable member of the leadership team until the end of the year to ensure a seamless integration process.
The newly formed group will be co-chaired by Tos Chirathivat, the CEO and Executive Chairman of Central, and Dieter Berninghaus, Chairman of Signa. In their joint statement, both leaders expressed their unwavering commitment to revolutionizing and revitalizing the luxury retail industry. They highlighted their dedication to establishing a preeminent luxury omnichannel platform that caters to customers’ needs both online and offline. The new owners are enthusiastic about collaborating with their new colleagues and brand partners to bring their vision for the group to fruition.
Useful links:
1. Central Group
2. Signa Holding
