The Central company and the Signa Group are taking over the department stores of the British luxury chain Selfridges.

Customers of Selfridges in London – pictured after the reopening after a pandemic lockdown . (Archive image)

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  • is aboutThe British luxury department store chain Selfridges was taken over by Central from Thailand and Signa from Switzerland.

  • The purchase price should be in the mid single-digit billion range.

  • The takeover also includes several properties.

The owners of the Globus department store chain, the Berlin KaDeWe and several other retail chains have, according to their own information, taken over the British luxury department store chain Selfridges. The companies Central from Thailand and Signa from Switzerland announced this in a joint message on Thursday. Both parties are said to hold 50 percent of the shares in the Selfridges Group. The takeover of the stationary stores and the online business also includes several properties – in addition to the famous flagship department store on Oxford Street in London, a building in Manchester and others in Ireland.

The companies did not provide any information on the purchase price. According to dpa information, it should be in the mid single-digit billion range in euros.

Since 2003, Selfridges has been in the hands of the Canadian entrepreneur family Weston. Now the chain is becoming part of a huge department store network: Central and Signa belong to the KaDeWe Group and several other chains in Europe, including Illum in Denmark, Rinascente in Italy and Globus in Switzerland. According to the announcement, the sales of the new network before the pandemic in 2019 were said to have been five billion euros. According to investors, it should grow to more than seven billion euros by 2024. Appropriate approvals for the takeover are still pending.

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 Globus owners buy British department store chain Selfridges

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(DPA/chk)

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By Teresa Tapmleton

Teresa Tampleton has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Nizh TEkegram, Teresa Tampleton worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teresa@ntelegram.com 1-800-268-7341

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