What: Central Group has acquired 100% ownership of KaDeWe’s three department stores in Germany and appointed Timo Weber as CEO.

Why it is important: This move strengthens Central Group's control over its European retail operations, ensuring stability and growth for KaDeWe amid the collapse of its former partner Signa. It also highlights Central Group's commitment to enhancing its flagship store portfolio.

Central Group, a Thai conglomerate, has taken full ownership of the KaDeWe Group, which includes the iconic KaDeWe in Berlin, Oberpollinger in Munich, and Alsterhaus in Hamburg. This acquisition follows the collapse of Central’s former partner, Signa. Timo Weber has been named CEO of KaDeWe Group, with Simone Heift appointed as chief buying and merchandising officer. This development is part of Central Group’s strategy to strengthen its European retail presence, complementing its other acquisitions like Selfridges, Rinascente, and Illum. Central’s executive chairman and CEO, Tos Chirathivat, emphasised the group’s commitment to supporting its European businesses and driving growth for KaDeWe.

Central Group takes full control of KaDeWe stores in Germany, names Timo Weber CEO