Selfridges’ new owners unveil omnichannel ambitions as £4bn deal completes

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The new owners of Selfridges intend to create “the world’s leading luxury omnichannel platform” following the completion of the takeover, understood to be valued at £4bn.

Central Group and Signa Holding formally took ownership of Selfridges Group from the Weston family this week.

Selfridges Group, which includes landmark stores such as Brown Thomas in Dublin as well as the eponymous flagship on London’s Oxford Street, will be combined with Central and Signa’s other department store interests, including Rinascente in Italy and KaDeWe in Germany, to create a business with 40 stores in eight countries.

Immediate priorities will be a modernisation of Selfridges’ famous food hall and redevelopment of the hotel site. Selfridges’ ecommerce platforms, which “draw over 30 million online visitors monthly and ship to over 130 countries worldwide”, will be integrated with those of the new owners and omnichannel is seen as a big opportunity.

Stefano Della Valle, who is in charge of Central and Signa’s European department stores, will lead Selfridges with an expanded role.

Selfridges Group managing director Anne Pitcher will stay at the business until the end of the year to ensure a smooth handover.

Central Group executive chair and chief executive Tos Chirathivat and Signa Holding executive board chair Dieter Berninghaus will co-chair the enlarged group.

Chirathivat and Berninghaus said: “We are long-term investors with a well-established partnership and shared vision to reshape and reinvent the luxury retail industry.

“We are committed to creating the world’s leading luxury omnichannel platform through both online and offline channels. We are excited to meet and work with our new colleagues, as well as brand partners to achieve this vision.”