What: Selfridges is reported to be finally sold this year, after having received an unsolicited offer earlier in 2021.

Why it is important: If the sale amount is confirmed, the Galen family will have multiplied their investment 8 times in 20 years.

Selfridges is reportedly sold by the Weston family to Thailand Central Group for a total amount of GBP 4 billion according to the newspaper. The confirmed amount remains however unclear, as well as the clear picture of the exact part of the Selfridges business to be bought. The Galen family acquired Selfridges in 2003 for GBP 598m.

Central already operates KaDeWe, Rinascente, Illum and Globus as its overseas operations, in addition to being a major player in Thailand. It also invested earlier this year with JD.Com into online retail and fintech. The Selfridges group is comprised of four stores in the UK, Brown Thomas and Arnotts in Ireland, De Bijenkorf in the Netherland and Holt Renfrew in Canada.

Thai conglomerate in advanced talks to buy Selfridges