Selfridges’ New Owners Are Bullish About Britain, and Retail, Despite Economic Turmoil

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Selfridges’ New Owners Are Bullish About Britain, and Retail, Despite Economic Turmoil
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Central Group and Signa Holding are strategizing about the future, and want the store to have a world-class food hall, and to serve locals and tourists alike.

Selfridges is the partners’ latest acquisition, and their plan is to make key tweaks to the business, but not to the overall strategy, operations or personality of the store that’s become synonymous with British luxury, creativity, and green values.

The deal only closed a month ago, so plans are still in their early stages. As reported, Selfridges managing director, Anne Pitcher, who was instrumental in helping to sell the company on behalf of the Weston family, will remain until the end of the year.Central and Signa have a 50-50 partnership, and are thought to have paid around 4 billion pounds for the group, although they have never confirmed the figure.

Berninghaus and Della Valle said initial investments at Selfridges will focus initially on the food and beauty halls and the omnichannel offer. They plan to tap into the experience and performance of their other stores to inform what they do at Selfridges. He said that at the Berlin KaDeWe, the food hall takes up a whole floor and houses 27 restaurants. Globus in Zurich has a similar offer, Della Valle added.

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