Central Group and Signa Holdings complete Selfridges acquisition
Anne Pitcher, current managing director of Selfridges Group, has announced she will be stepping down and will remain in the company’s leadership team until the end of the year to ensure a smooth integration into the newly formed group.
Central Group and Signa Holding have completed the acquisition of Selfridges Group from the Weston Family in a deal that is thought to be worth around £4bn.
Following the news of the acquisition in December 2021, Selfridges Group portfolio, which comprises 18 stores under four banners in three countries, namely Selfridges in England, Brown Thomas and Arnotts in Ireland, and De Bijenkorf in the Netherlands, will be integrated with Central and Signa’s combined existing portfolio of 22 luxury department stores and two new stores to open soon in Dusseldorf and Vienna.
The current holdings comprise Rinascente in Italy and Illum in Denmark, which are wholly owned by Central Group, and KaDeWe, Oberpollinger, and Alsterhaus in Germany, and Globus in Switzerland, which are jointly owned by Central Group and Signa Holding. The integration will also include Selfridges Group’s e-commerce platforms, which draw over 30 million online visitors monthly and ship to over 130 countries worldwide.
Stefano Della Valle, CEO of Central and Signa’s luxury department store group in Europe, will lead Selfridges Group under his expanded role.
Anne Pitcher, current managing director of Selfridges Group, has announced she will be stepping down and will remain in the company’s leadership team until the end of the year to ensure a smooth integration into the newly formed group.
Tos Chirathivat, executive chairman and CEO of Central Group, and Dieter Berninghaus, Chairman of the executive board of Signa Holding will be the new co-chairman of the 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 create the world’s leading luxury omni-channel platform for all our customers 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.”
