Selfridges sold for £4bn to Thai-Austrian alliance

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Selfridges sold for £4bn to Thai-Austrian alliance
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Selfridges' flagship store is on Oxford Street

British luxury department store chain Selfridges is being sold to a Thai retailer and an Austrian property firm.Founded in 1908 by US retail magnate Harry Gordon Selfridge, the company is best known for its flagship department store on London's Oxford Street.

Selfridges' new owners said they plan to build on the existing brand to develop luxury online stores as well improving its physical sites. "I am proud to pass the baton to the new owners who are family businesses that take a long-term view," Selfridges Group chairman Alannah Weston said.Selfridges' flagship department store is located on London's Oxford Street

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