What: Central Group is actively seeking a new partner to take over the remaining stake in Selfridges from the faltering Austrian co-owner Signa, with potential buyers from the Middle East and China showing interest.

Why it is important: This move by Central Group is crucial as it aims to stabilize and consolidate ownership after Signa's financial troubles. The outcome of these negotiations will significantly influence the strategic direction and stability of Selfridges, affecting its competitive positioning in the global luxury retail market.

Central Group, based in Thailand, is in discussions with various potential investors, including several sovereign wealth funds and private investors, to find a new partner for its Selfridges investment. This search comes after the co-owner Signa faced financial difficulties, necessitating a change in partnership. Interest has been shown by entities such as Saudi Arabia’s Public Investment Fund and possibly the Qatar Investment Authority, which owns luxury department stores like Harrods and Lane Crawford. Central Group aims to maintain a controlling stake in Selfridges, having already increased its share to 65% in the operating company through the conversion of a loan into equity. This strategic move highlights Central's commitment to retaining a significant influence over Selfridges’ future, ensuring the brand's stability and growth in the luxury retail sector.

Central's search for new Selfridges partner goes on, reportedly in talks with possible buyers