What: Central Group of Thailand plans to acquire a significant share in upscale brands from Signa Retail Luxury Holding, aiming for a 60% stake in Selfridges and considering acquisitions of Germany's KaDeWe Group and Switzerland's Globus.

Why it is important: This move signifies Central Group's ambition to expand its luxury retail footprint globally, leveraging strategic partnerships and investments. A successful acquisition could reshape the high-end retail market, enhancing Central Group's influence in the luxury sector and potentially altering competitive dynamics.

Central Group is negotiating to increase its ownership in some of the world's most prestigious department stores, including Selfridges in London. The group, which co-acquired Selfridges with Signa in 2022 for approximately EUR 4 billion, is reportedly in discussions with Saudi Arabia’s Public Investment Fund about Selfridges. Central Group's aim to control 60% of Selfridges underscores its strategy to dominate the luxury retail scene. Additionally, the German fashion retailer Breuninger is among the entities interested in acquiring Berlin’s iconic KaDeWe, highlighting the competitive interest in high-end retail assets. This series of potential acquisitions indicates a strategic shift towards consolidating luxury retail under significant global players like Central Group.

Thai investor plans to buy Signa Brands including Selfridges