The Asian retail giant is said to be interested in the iconic European brands (Selfridges, KaDeWe, Globus) of bankrupt Austrian Signa, which is in the midst of a legal crisis.
Selfridges, KaDeWe, Alsterhaus, Oberpollinger and Globus could soon come under the Thai flag. All these European retail institutions, currently owned by Austria’s Signa, are said to be coveted by Thailand’s Central Group.
According to the online site Business Insider, the Asian retail giant intends to acquire these high-end assets, in which it is already a partial shareholder, from an ailing real estate group.
Real estate crisis
Hard hit by the European real estate crisis, Austria’s Signa filed for bankruptcy in November 2023. Founded in 2000 by Tyrolean billionaire René Benko, then aged 23, the group had grown by leaps and bounds. This had enabled it to buy iconic assets in Europe, but also across the Atlantic, where it is co-owner – with real estate developer RFR Holding – of the famous Chrysler Building in New York.
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Featured Photo: © KaDeWe
