What: The UK department store is now part of the luxury department stores collection led by Central and Signa

Why it is important:  Canadian operations remain in the Weston family portfolio.

Central Group and Signa Holding have teamed up again to acquire Selfridges for a non-confirmed amount of GBP 4 bn. They already jointly own and operate la Rinascente, KaDeWe, Illum or Globus in Europe.

The agreement includes 18 stores out of the 25 stores owned by the Weston family, including Oxford Street, Manchester, Birmingham, the De Bijenkorf, Brown Thomas and Arnotts locations. Holt Renfrew, however, will remain the property of the Weston family.

The current leadership teams will remain in place and the consortium will represent a cumulated turnover estimated to €7 bn within 2024.

Central and Signa win Selfridges, Holt Renfrew not included