Having already bought the Berlin department store KaDeWe from the bankrupt Austrian Signa Group, the Thai empire Central Group has now acquired the group’s other two German outlets.
The world’s new leader in luxury department stores is Thai.
The Central Group, which hails from this Asian country, has just secured this title by acquiring the three luxury department stores of the German KaDeWe Group from the Austrian Signa.
Central Group now owns 120 outlets in 80 cities and 11 countries, including Selfrigdes in London, Bijenkorf in Amsterdam and Rinascente in Milan.
Purchase of KaDeWe in Berlin
Previouslya 50.1% shareholder in Berlin’s KaDeWe, the most emblematic of the Group’s three department stores bearing the same name, Central Group acquired the remaining shares from Signa last April. Bankrupt, the real estate group owned by Austrian billionaire René Benko was forced to dismantle its assets.
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Read also > THAILAND’S CENTRAL GROUP ACQUIRES SELFRIDGES STORES
Featured Photo: © KaDeWe
