Thailand’s Central Group has emerged as a potential contender in the bidding war for the renowned luxury department store, Selfridges. Reports have indicated that the company, which also owns the prestigious Italian department store La Rinascente, has expressed keen interest in acquiring Selfridges. To explore this opportunity further, Central has teamed up with investment bankers at Citi to assess the viability of a possible deal. However, it is important to note that there is no guarantee that a formal bid will be submitted.
What makes this situation even more intriguing is the connection between Central and Vittorio Radice, the former CEO of Selfridges who currently serves as the Vice-Chairman of La Rinascente. Radice played a crucial role in transforming Selfridges into a luxury-focused establishment during his tenure. As such, his involvement in any potential bid by Central raises the possibility of his influence on the bidding process and future strategies if the acquisition proves successful.
According to Sky News, Central’s bid may also involve contributions from other investors, adding further complexity to the situation. The bidding process for Selfridges is expected to extend into the next year, with the potential announcement of a winning bid prior to that. While Selfridges has not disclosed specific details about the sale, it is believed that the deal will encompass the UK, Republic of Ireland, and Netherlands stores, excluding the Canadian business Holt Renfrew.
Useful links:
1. [Selfridges Official Website](https://www.selfridges.com/)
2. [La Rinascente Official Website](https://www.rinascente.it/)
