Central Group, Signa acquire Selfridges

Selfridges Group has 18 stores in three countries.

Thailand-based Central Group and Europe-based Signa Holding have completed the acquisition of luxury retailer Selfridges Group from the Weston Family, the companies said in a joint statement.

Selfridges Group will be led by Stefano Della Valle, the CEO of Central and Signa’s luxury department store group in Europe.

The Selfridges Group Managing Director Anne Pitcher will remain with the company until year-end to ensure a smooth integration following the acquisition.

READ MORE: Central Retail net profit soars over 470% in Q2

Central Group CEO and Executive Chairman Tos Chirathivat, and Signa Holding Executive Board Chairman Dieter Berninghaus will be the new co-chairman of the group.

“We are long-term investors with a well-established partnership and shared vision to reshape and reinvent the luxury retail industry. We are committed to create the world`s leading luxury omni-channel platform for all our customers through both online and offline channels,” they said.

Selfridges Group has 18 stores under four banners in three countries, namely Selfridges in England, Brown Thomas and Arnotts in Ireland, and De Bijenkorf in the Netherlands.

These will be combined with Central and Signa’s existing portfolio of 22 luxury department stores and two new stores to open soon in Dusseldorf and Vienna. The acquisition also includes Selfridges e-commerce platforms, which post over 30 million online visitors monthly and ship to more than 130 countries.