The British luxury store chain is being bought by Thailand's Central Group and Signa Group of Austria.
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 is known for its bright yellow cardboard bags and its flagship store on London's Oxford Street is a magnet for shoppers and tourists alike.
Now that "big, fine brand" and its buildings have brought its owners, the Weston family, a £4bn Christmas present. Central, which is owned by the billionaire Chirathivat family, is involved in wide range of businesses including real estate, retail, hospitality and restaurants.
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Selfridges sold for £4bn to Thai-Austrian allianceThe British luxury store chain is being bought by Thailand's Central Group and Signa Group of Austria.
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