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Selfridges Group sale completes as Anne Pitcher steps down as managing director

Selfridges has announced that its acquisition by Central Group and Signa Holding is now complete and that its managing director Anne Pitcher will step down as… View Article

DEPARTMENT STORES

Selfridges Group sale completes as Anne Pitcher steps down as managing director

Selfridges has announced that its acquisition by Central Group and Signa Holding is now complete and that its managing director Anne Pitcher will step down as previously planned.

The group was previously owned by the Weston family.

Its portfolio, which comprises 18 stores under the banners of Selfridges in England, Brown Thomas & Arnotts in Ireland, and De Bijenkorf in the Netherlands, will be integrated with Central and Signa’s combined portfolio of 22 luxury department stores and two new stores set to open in Dusseldorf and Vienna.

The current holdings comprise Rinascente in Italy and Illum in Denmark, which are wholly owned by Central Group, and KaDeWe, Oberpollinger, and Alsterhaus in Germany, and Globus in Switzerland, which are jointly owned by Central Group and Signa Holding. The integration will also include Selfridges’ online platforms.

Stefano Della Valle, currently chief executive of Central and Signa’s department stores in Europe, will lead Selfridges Group as part of an expanded role. Meanwhile, Pitcher will  remain within the company until the end of the year to ensure a smooth integration..

Tos Chirathivat, executive chairman and chief executive of Central Group, and Dieter Berninghaus, chairman of the executive board of Signa Holding, will be the new co-chairmen of the group.

Chirathivat and Berninghaus said: “We are long-term investors with a well-established partnership and shared vision to reshape and reinvent the luxury retail industry. We are committed to create the world`s leading luxury omnichannel platform for all our customers through both online and offline channels. We are excited to meet and work with our new colleagues, as well as brand partners to achieve this vision.”

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