The deal is done: the British Selfridges Group has been acquired by a consortium comprising Thailand's Central Group and Austria's Signa Holding. This creates a major European department store group, with several iconic properties in the Benelux, Germany, Italy and elsewhere.
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Thailand's Central Group, which already owns luxury department stores like Rinascente, KaDeWe and Illum in Europe, has an agreement to acquire British department store chain Selfridges, which has been for sale since the summer.
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Selfridges is negotiating with Qatari investors over a possible sale for four billion pounds (€4.7 billion), which would see the luxury department store change hands for the first time in almost 20 years.
Top managers from icons such as La Rinascente and INNO are making their appearance at the international conference The Future of Department Stores, which explores future avenues for the luxury department store sector.
The Dutch department store chain has joined The Climate Pledge, a global partnership to accelerate action to tackle the climate crisis. In concrete terms, de Bijenkorf has committed to becoming climate-neutral by 2040, ten years earlier than stipulated in the Paris Agreement.
Dutch department store chain De Bijenkorf has seen its sales drop dramatically last year due to compulsory store closures. Its online shops performed excellently, but could not fully compensate for the losses.
The Dutch department store chain Bijenkorf has finally launched its Austrian webshop. The launch was announced in early 2020 and was initially planned for the second half of that year, but that timing suffered some delays.
Parent company Selfridges is helping De Bijenkorf to get through the corona crisis. The Dutch department store chain gets an additional credit line of 44 million euros.
No one knows how they will pronounce it, but from now on French consumers can also shop online at De Bijenkorf. Following the launch of a French-speaking Belgian webshop, the department store chain is now attacking France.
De Bijenkorf's French-language webshop is now online: the Dutch department store chain first wants to serve customers in Brussels and Wallonia, before attacking France and Austria.
The Covid crisis has hit certain department stores very hard: can they recover - and, if so, how? The book The Future of Department Stores sheds some light through own analysis and interviews with icons from the sector.
(update) Dutch chain De Bijenkorf has confirmed it will create a French language version of its web shop to cater to France and the southern part of Belgium. Moreover, the company's German web shop will start delivering to Austria as well.
Large flagship stores continue to distinguish themselves through their unique experience and local anchoring, according to former Kaufhof leader Olivier Van den Bossche. Department stores might also take on the role of omni-channel hubs in the future.
De Bijenkorf aims for a wow effect and wants to adds luxury, but wants to remain accessible: a balancing act where every detail matters. This also applies to the web shop, because the most valuable customer shops both offline and online.