Central Group news and archive

Saudi Arabia’s Public Investment Fund acquires 40 percent stake in Selfridges Group

The Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, has acquired a 40 percent stake in British luxury department store Selfridges and is forming a strategic partnership with Thailand-based conglomerate Central Group, which raised its majority stake in the retailer to 60 percent. In a statement, family-owned Central Group...

Business

Central Group takes over business operations of the KaDeWe Group

The business operations of the luxury German department stores KaDeWe (Berlin), Oberpollinger (Munich) and Alsterhaus (Hamburg) are being sold to the Thai Central Group. According to information from the German Press Agency, a corresponding contract with the KaDeWe Group was signed on Friday. A purchase price was not initially disclosed....

Thai fashion group acquires German landmark store KaDeWe

Berlin's renowned KaDeWe department store has changed hands, with Thai conglomerate Central Group, also the owner of Selfridges, taking over ownership from the insolvent Austrian company Signa. Central Group, which has been actively acquiring European luxury stores, including Italy's Rinascente, Ireland's Brown Thomas, and Denmark's Illum,...

Business

Central Group reportedly eyeing takeover of Signa retail brands

Thailand’s Central Group is believed to be mulling a possible takeover of some of the real estate assets owned by the recently collapsed Signa Holding. This could include KaDeWe in Germany and London-based Selfridges, the latter of which Central already holds a significant stake in. According to a report by Business Insider, Central is believed...

Business

Interested parties begin eyeing Selfridges stake

Following the breakdown of one of Selfridges’ two owners, various parties have reportedly been circling the British department store chain for a potential stake purchase. Gucci parent company Kering and Saudi Arabia’s Public Investment Fund (PIF) are understood to be mulling the acquisition of a stake in the luxury retailer, according to the...

Business

Two Signa subsidiaries file for insolvency, Selfridges seeks financing

Two key subsidiaries of the already insolvent Signa Group have filed for bankruptcy in what is the latest development in the downfall of the international retail empire. Both Signa Development Selection and Signa Prime Selection filed for insolvency last week, with the latter – a stakeholder in Selfridges and KaDeWe – believed to have already...

Business

Selfridges co-owner Central Group takes control amid Signa crisis

Central Group, the co-owner of Selfridges, has stepped in to take full control of the luxury department store chain after its partner Signa Group continues to tackle an ongoing financial crisis. The Thai firm, owned by the billionaire Chirativat family, is understood to have gained control of the joint venture unit, which also operates the...

BusinessFeatured

Weston family completes sale of Selfridges

The billionaire Weston Family has completed its sale of Selfridges Group to a Thai and Austrian joint venture. Last year, the Weston family agreed to sell the business to Thailand’s Central Group and Austrian-based property company Signa Holding, with each company taking a 50 percent stake. As well as owning the iconic Selfridges department...

BusinessFeatured

Iconic retailer Selfridges sold to Thai and Austrian joint venture

The Canadian billionaire family behind the revamp of Selfridges have sold the iconic department store to a Thai and Austrian joint venture. The Weston family sold the British store chain to Thai conglomerate Central Group and Austrian Signa Holding, who each own 50 percent. The group’s other retail division, which includes Arnotts and Brown...

BusinessFeatured

Selfridges reportedly agrees sale to Thailand’s Central Group

The soon-to-be new owner of British department store chain Selfridges has reportedly been revealed. The current owner of the iconic retailer, the billionaire Weston family, has agreed to sell the business to Thailand’s Central Group, according to The Times. The family hopes the deal will go through before the end of the year. Selfridges hasn’t...