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Thailand’s Central Group acquires British retailer Selfridges
Following the announcement in December 2021, Central Group and Signa Holding have completed the acquisition of the luxury retailer, Selfridges Group, from the Weston Family.
Central made the purchase in partnership with Signa Holding of Austria for a reported price of $4.76 billion. Central is one of the largest corporations in Thailand with businesses in retail, real estate, hospitality, department stores and malls.
This transaction has created one of the world’s leading luxury department store groups, with presence in 8 countries in Europe and flagship stores in the cities’ most sought after locations, particularly the iconic Selfridges Oxford Street – the #1 shopping destination in the heart of London which occupies an entire city block.
Selfridges Group portfolio, which comprises 18 stores under 4 banners in 3 countries, namely Selfridges in England, Brown Thomas & Arnotts in Ireland, and De Bijenkorf in the Netherlands, will be integrated with Central and Signa’s combined existing portfolio of 22 luxury department stores and 2 new stores to open soon in Dusseldorf and Vienna.
11 countries, 80 cities, and 120 locations
Tos Chirathivat, Executive Chairman and CEO of Central Group, said: “Our department store business has achieved a remarkable milestone of having the world’s largest international presence of department store network, spanning across 11 countries, 80 cities, and 120 locations. Total department store sales will reach €6.7 billion or 260 Billion Baht this year. The addition of Selfridges Group into our department store luxury collection has made Central Group a true global leader in luxury retail with the highest number of international luxury flagship locations in the world’s top destinations, and a thriving international luxury e-commerce platform.”
In addition, Central Group owns 40 malls in Thailand, and dozens of hotels in Thailand, East and Southeast Asia, the Middle East and Europe. Central Retail has 3,641 branded stores including supermarkets, hypermarkets, sportswear, stationery, electronics and office products.
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