Deal with Thai and Austrian firms includes the four UK stores and raises hopes for Oxford Street redevelopment
The family owners of Selfridges have sold out to Thai retailer and an Austrian property company for an estimated £4bn in a deal which sees the return of the luxury department store’s former boss Vittorio Radice.
Thailand’s Central Group and Austrian real estate company Signa Group already jointly own major department stores in Italy, Germany and Denmark via a division run by Radice, who left Selfridges in 2002, the year before Canada’s Weston family bought it for £628m. The firms are thought to have beaten off rival bids from the Qatar Investment Authority, which owns Harrods, and Lane Crawford, a Hong Kong-based department store owner.
