Central Group announces Selfridges expansion after Saudi fund deal

Thailand’s Central Group has won backing from Saudi Arabia’s Public Investment Fund (PIF) for joint ownership of the Selfridges Group after its previous partnership collapsed. 

The PIF replaces Austrian real estate and retail giant Signa, which went bankrupt last year.
Central Group will hold a 60% stake while PIF will own the remaining 40%, following PIF's acquisition of all Selfridges shares from Signa. 

The collaboration also includes significant new investment from Central Group and PIF to strengthen Selfridges’ financial standing and expand its business, said Tos Chirathivat, Central Group’s executive chairman.

Tos Chirathivat

Central Group became the majority shareholder and took over management of the Selfridges department stores in November 2023.

Selfridges is a leading luxury department store chain in Europe, with 18 locations across three countries. These include its flagship Oxford Street store in London, the Manchester Exchange Square store, deBijenkorf in the Netherlands, and Brown Thomas and Arnotts in Ireland. The group also operates an omnichannel platform, blending online and offline shopping.

Central Group began its investment in Selfridges in 2022, driving growth through initiatives like the recent renovation of Selfridges’ Beauty Hall on Oxford Street. The group has also expanded luxury brand offerings at Brown Thomas in Dublin and the men’s department at deBijenkorf in Amsterdam to cater to high-end shoppers.
In the past year, Selfridges Group generated over £2.8 billion (123 billion baht) in sales.

Currently, Central Group's empire spans 40 luxury department stores across 34 tourist cities in seven countries.