What: Following ownership stabilisation with Saudi Arabia's PIF and Central Group, Selfridges announces its 2025 strategy emphasising exclusive partnerships, immersive retail experiences, and sustainability initiatives through its ReSelfridges program.

Why it is important: This development shows how department stores are adapting to modern retail challenges by balancing heritage with innovation, supported by strategic partnerships and sustainable practices.

Under new ownership stability, Selfridges is implementing a comprehensive retail strategy focused on exclusivity and experiential shopping. The store's beauty department has shown strong performance with a 10% increase versus 2023, while beauty appointments have surged by 22%. The Corner Shop space continues to attract major brands and has seen significant visitor traffic, with over 60,000 visitors to its recent Joke Shop concept. The ReSelfridges circularity program has demonstrated substantial growth, with pre-loved bags sales up 56% and watches up 90%. The retailer is also expanding its artistic initiatives, commissioning installations from British artists and supporting the Sarabande foundation's 10th anniversary. Despite these positive developments, Selfridges faces financial challenges, with the company working to justify its £4 billion valuation while implementing its transformation strategy.

IADS Notes: Following PIF's acquisition of a 40% stake from Signa, replacing Central Group as majority shareholder with 60%, the retailer is focusing on exclusivity and experiential retail. Despite doubling pre-tax losses to £340 million, the store's transformation includes successful initiatives like the Corner Shop concept and ReSelfridges circularity program.

Selfridges reveals its retail strategy for 2025