Central Group settles Selfridges Group deal

Photo from: Inside Retail Asia

By Inside Retail Asia

Thai retail conglomerate Central Group and Signa Holding have completed their acquisition of UK department store chain Selfridges Group from the billionaire Weston Family.

The US$5.37 billion deal, disclosed last year, will see Selfridges Group join Central and Signa’s existing portfolio of 22 luxury department stores and two new stores to open in Dusseldorf and Vienna. Selfridges Group has 18 stores under four banners in three countries.

Current MD of The Selfridges Group, Anne Pitcher, will resign from her role at the end of the year following the deal’s closure. CEO of Central and Signa’s luxury department store group in Europe, Stefano Della Valle, will lead Selfridges Group under his expanded role.

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