Central Group and Signa Holding say the transaction has created one of the world’s leading luxury department store groups, with a presence in eight countries in Europe and flagship stores in the cities’ most sought after locations.
Selfridges Group portfolio, which comprises 18 stores under four banners in three countries, namely Selfridges in England, Brown Thomas & Arnotts in Ireland, and De Bijenkorf in the Netherlands, will be integrated with Central and Signa’s combined existing portfolio of 22 luxury department stores and 2 new stores to open soon in Dusseldorf and Vienna.
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The current holdings comprise Rinascente in Italy and Illum in Denmark, which are wholly owned by Central Group, and KaDeWe, Oberpollinger, and Alsterhaus in Germany, and Globus in Switzerland, which are jointly owned by Central Group and Signa Holding. The integration will also include Selfridges Group’s e-commerce platforms, which draw over 30m online visitors monthly and ship to over 130 countries worldwide.
Stefano Della Valle, CEO of Central and Signa’s luxury department store group in Europe, will lead Selfridges Group under his expanded role. Anne Pitcher, current managing director of The Selfridges Group, will as already planned remain in the company’s leadership team until the end of the year to ensure a smooth integration into the newly formed group.
While Tos Chirathivat, executive chairman and CEO of Central Group, and Dieter Berninghaus, chairman of the executive board of Signa Holding will be the new co-chairman of the group.
Chirathivat and Berninghaus together said: “We are long-term investors with a well-established partnership and shared vision to reshape and reinvent the luxury retail
industry. We are committed to create the world`s leading luxury omni-channel platform for all our customers through both online and offline channels. We are excited to meet and work with our new colleagues, as well as brand partners to achieve this vision.”
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