Selfridges, a chain of high-end department stores in the United Kingdom has been bought by a Thai retailer and Austrian property company, Signa Holding in a £4 billion deal.
According to reports, the luxury department store chain was bought by the Weston family in 2003, who then went on to establish the Selfridges Group in 2010.
The Selfridges portfolio has now been bought by the Thai retailer Central Group and Austrian real estate company Signa Holdings. The Selfridges portfolio includes eighteen sites across England, Ireland and the Netherlands.
The Central Group on Friday released a statement saying the acquisition will create one of the world’s leading omni-channel luxury department store groups.
In 1956, the Central Group opened the first department store in Thailand which has now expanded to 3,700 other stores around the world.
Signa Holding was established in 2000 and remains Austria’s largest privately-owned real estate company.
