Selfridges set to be sold to Thai conglomerate for up to £4bn

The acquisition of Selfridges adds to Central and Signa’s collection of high-end retailers, including Rinascente in Italy, Illum in Denmark, Switzerland’s Globus, and The KaDeWe Group in Germany and Austria. The joint venture aims to become a major global player in the department store sector.

Founded in 1908 by Harry Gordon Selfridge, the Selfridges Group was previously owned by the Canadian billionaire Weston family. The group owns 18 department stores, including a historic property on London’s Oxford Street shopping district. The sale comes after the death of W.

Galen Weston, who had spearheaded the purchase of Selfridges in 2003. Central Group, the retail flagship of the Thai Chirathivat family, has been expanding globally from its base in Thailand, where it owns numerous department stores and malls.

The acquisition of Selfridges is seen as a valuable trophy for the group as it continues to grow internationally. The deal includes Selfridges’ four UK stores – in London, Birmingham, and two in Manchester – as well as Brown Thomas and Arnotts in Ireland and De Bijenkorf in the Netherlands…