What: New owners, Central Group and Signa have big ambitions for Selfridges, and more UK cities could see new branches opening.

Why it is important: The joint partners plan to take advantage of a possible upturn in regional cities once the cost-of-living crisis ends by opening new stores, something which Selfridges hasn’t done in the past twenty years.

There are no concrete plans for UK expansion, but the owners have expressed their intention to establish a physical presence in second-tier cities.

While the company believes they are the only solution for luxury brands in terms of distribution, competitor department stores such as Harvey Nichols and Flannels have retail locations across the UK.

New Selfridges owners debate opening new stores