Arnotts and Brown Thomas: Westons to sell Arnotts and Brown Thomas to luxury chain

Iconic Irish department stores Arnotts and Brown Thomas will be part of a conglomerate of European-wide luxury department stores under a proposed agreement announced by the Selfridges group.

he group, controlled by the Irish-Canadian billionaires of the Weston family, owns the iconic Irish department stores as well as the Selfridges stores in London, Manchester and Birmingham and Bijenkorf in the Netherlands.

But in a draft deal announced tonight, the Selfridges Group will be part of a portfolio of luxury department stores in Europe as part of a deal with Central and Signa, a leading European real estate and retail group. plan.

Selfridges will join high-end retailers such as Rinascente in Italy, Illum in Denmark, Globus in Switzerland and The KaDeWe Group, which will operate in Germany and Austria in 2024.

“The merger will create a complementary portfolio of European luxury department stores, which will allow innovation know-how and knowledge sharing between different sites to be shared,” according to a statement from Central and Signa, which will continue to operate the Irish department. stores using current management teams as well as their e-commerce and operating companies.

Tos Chirathivat, CEO of Central, said: “It is a privilege to acquire Selfridges Group, including the flagship store on Oxford Street, which has been at the center of London’s most famous shopping street for over 100 years. .

“As family-owned businesses, Central and Signa will focus on providing exceptional and inclusive digital and store experiences for local residents and overseas visitors, to ensure that we can give all stores in the Selfridges group a bright future for the next 100 years. “
The transaction is subject to regulatory approval.

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