Luxury department store chain Selfridges has been sold by the Canadian Weston family to a joint venture between a Thai retailer and an Austrian property company for an estimated £4bn.
All stores in the Selfridges Group have been purchased by Thailand’s Central Group and Austrian real estate company Signa Holding, with Selfridges to join its portfolio of other department stores in Italy, Germany and Denmark.
Central and Signa will operate all four of Selfridges’ stores – one in London, one in Birmingham and two in Manchester – as well as De Bijenkorf, Brown Thomas and Arnotts.
The new owners said these brands will continue to be run by the existing leadership teams, as well as their ecommerce platforms and operating companies.
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