What: Central Group has taken control of the Swiss luxury department store chain Globus.

Why it is important: This acquisition marks a significant expansion for Central Group into the European luxury retail market, enhancing its global presence and influence in the luxury sector.

Central Group, a Thai conglomerate, has successfully acquired the Swiss luxury department store chain Globus. This strategic move allows Central Group to strengthen its foothold in the European luxury retail market, capitalising on Globus's established brand and customer base. The acquisition is part of Central Group's broader strategy to expand its global presence and diversify its portfolio within the luxury sector. By integrating Globus into its operations, Central Group aims to leverage synergies and enhance its competitive advantage in the international retail landscape. This deal underscores the growing trend of Asian companies investing in European luxury assets to gain access to new markets and consumer segments.

Central Group acquires Swiss luxury chain Globus