Shopping in department stores across Europe – The new Globus owners now also own Selfridges in England – News

• The owners of, among others, the Globus department store chain have taken over the British luxury department store chain Selfridges.
• The companies Central from Thailand and the Signa Group of the Austrian investor René Benko jointly announced the purchase.
• Both parties are said to hold 50 percent of the shares in the Selfridges Group. The British group also owns real estate.

The companies did not provide any information on the purchase price. According to information from the DPA news agency, it should be in the mid single-digit billion range. The Reuters news agency reported that the previous owners, the Canadian Weston family, decided to sell the property in the summer and offered the group for 4 billion pounds (just under 5 billion Swiss francs).

Since 2003, Selfridges has been in the hands of the Weston family of entrepreneurs. Now the chain is becoming part of a huge department store network. In addition to the German KaDeWe Group, Central and Signa also own several other chains in Europe, including Illum in Denmark, Rinascente in Italy and, since the beginning of 2020, Globus in Switzerland.

According to the announcement, the sales of the new association before the pandemic in 2019 were the equivalent of around 5 billion francs. According to investors, it should grow to more than CHF 7.3 billion by 2024. Appropriate approvals for the takeover are still pending.