Department store Selfridges is set to be sold to Thailand’s Central Group, according to reports. Central Group is a family-owned conglomerate that started in Bangkok but went global when the founder’s son, Samrit Chirathivat, opened Thailand’s first department store in 1956. It now has 3,700 shops around the world, from supermarkets to electronics outlets, and department stores in Europe. Central Group’s non-executive director Vittorio Radice ran Selfridges between 1996 and 2003 and has been managing a department store in Italy since 2006. The Weston family launched the sales process in June, a few months after the death of Galen Weston, who oversaw the move to take the department store private in 2003.

Source: The Times December 02, 2021 19:56 UTC