Highsnobiety

Following previous speculations, it has now been confirmed that Selfridges has sold for $5.36 billion.

Purchased by Thailand's Central Group and Austrian real estate company Signa Holdings, the department store was bought alongside its other UK stores in Birmingham and Manchester, Brown Thomas and Arnotts in Ireland, as well as the Dutch De Bijenkorf.

Selfridges was previously bought by the Weston family in 2002, for £628 million. Bids also came from the Qatar Investment Authority, which owns Hong Kong's Lane Crawford, as well as London's luxury department store Harrods.

According to Reuters, Central Group and Signa Holding also have plans to build a luxury hotel alongside the coveted site in London.

Your Highsnobiety privacy settings have blocked this Instagram post.

Of course, the investment in physical retail is risky, seeing as COVID-19 restrictions are once again returning as a result of the spread of the Omicron variant in Europe.

Over the past two years, retail stores have been forced to downsize or close for good as tourism has dwindled, and sales decreased. On Oxford Street, where Selfridges' flagship store is located, plenty of stores are still empty, including Debenhams which was forced to close its 120 stores as the brand collapsed.

However, as the world begins to open up as vaccines and booster jabs are being rolled out, investing in the return of physical retail might be the ultimate move.

Since its establishment in 1906, Selfridges has seen plenty of shifts, and the latest sale is the next chapter in the vast history of the luxury deparment store.

 

We Recommend
  • Go Shopping in London, Have History for Lunch
    • Culture
  • A-COLD-WALL*'s Nike Air Maxes Just Got Better
    • Sneakers
  • Basketball, Business, and Billions: Inside LeBron James' Net Worth
    • Culture
  • Pharrell's Louis Vuitton Bag Is Here — Yes, the Million-Dollar One
    • Style
  • Same Thing, More MLM: The ‘Demi Method’ Is Just Color Correcting, With a Catch
    • Beauty
What To Read Next
  • Veja's New Running Shoe Is a Surprisingly Slick Crossover Sneaker
    • Sneakers
  • The Trader Joes Tote Bag Is No Stanley Cup
    • Style
  • Ghettotech, Bootytech, Sextech, meet the Detroit trio HiTech
    • Culture
  • Kendall Jenner in Business Bottega Is Best-Dressed Material
    • Style
  • 2024, the Year of the Beautiful Celeb Couple
    • Culture
  • A Love Letter to Ferrari's IYKYK Super Car
    • Culture
*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to info@highsnobiety.com

Web Accessibility Statement

Titel Media GmbH (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, www.highsnobiety.com. Titel Media GmbH strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titel Media GmbH tests, remediates and maintains the Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.

Disclaimer

Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at accessibility@highsnobiety.com, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.