What: Central Group Europe CEO believes food and hospitality are only some of possible future developments at Selfridges.

Why is it important: The closing of the deal between Thailand’s Central Group and Signa to buy Selfridges Group under a 50/50 partnership is expected by the end of June, but the wheels have already been set in motion, with several projects in the pipeline that are sure to shape the future retail scene.

The transaction will see Selfridges Group become part of the combined Central and Signa portfolio of luxury department stores, which includes Rinascente in Italy, Illum in Denmark, Globus in Switzerland, and The KaDeWe Group which operates in Germany and Austria, for a total of 40 stores.

Shopping is no longer the sole attraction of these stores, which offer entertainment experiences, Rinascente was transformed from a traditional store into a luxury destination through an important restructuring of existing stores, closures, and openings, as not all could stand as department stores for the future.

The group plans to add additional opportunities in the food area and offer more high-quality foods, they plan to redevelop the Selfridge Hotel which has been closed, they will also reduce the amount of space decided to a parking lot nearby for either more retail space or to develop a residential project.

The group does not rely only on established labels and he noted that it is costly for smaller brands to open in key, central streets in cities such as Milan, Berlin, or London. Department stores offer the quality of service, the environment, and the foot traffic that can help them grow their businesses.

Selfridges’ opportunities ahead