Thailand-based multi-format operator Central Retail Corporation has entered Denmark by acquiring Illum, a famous Copenhagen department store.

The company plans to invest THB2bn (£45m) to renovate the store over the next four years. Central Retail chief executive Tos Chirathivat said the renovation would help Illum boost its income from THB5bn (£112.6m) to THB8bn (£180.1m).