- Home >
- News >
- Irish News
Ireland’s iconic department stores Arnotts and Brown Thomas to be sold off to luxury chain
Christmas shoppers outside Brown Thomas on Dublin's Grafton Street yesterday. Photo: Stephen Collins/Collins Photos
Ireland’s iconic department stores Arnotts and Brown Thomas are to become part of a European-wide luxury department store conglomerate under a proposed deal announced by the Selfridges Group last night.
The Selfridges Group, owned by Irish-Canadian billionaires the Weston family, owns the iconic Irish department stores as well as Selfridges stores in London, Manchester and Birmingham and de Bijenkorf in the Netherlands.
But in the proposed plan announced last night, the Selfridges Group will become part of a portfolio of luxury department stores in Europe under a deal with Central and Signa, a leading European real estate and retail group.
The Selfridges Group 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 combination will create a complementary portfolio of leading European luxury department stores, which will enable innovation know-how and knowledge to be shared across different locations,” according to a statement from Central and Signa, which will continue to operate the Irish department stores using the current management teams along with their e-commerce and operating companies.
Tos Chirathivat, CEO of Central, said: “It is a privilege to be acquiring Selfridges Group, including the flagship Oxford Street store, which has been at the centre of London’s most famous shopping street for over 100 years.
“As family businesses, Central and Signa will focus on delivering exceptional and inclusive store and digital experiences for both local residents and overseas visitors alike, to ensure we can give all the stores in Selfridges Group a bright future for the next 100 years.”
The deal is subject to regulatory approval.
Today's Headlines
SICKENING | Victim reveals family standing by twisted OAP found guilty of abusing his two granddaughters
Dramatic rescue | Hero who dragged drowning teen to safety says if he hadn't delayed going home ‘the kid was dead’
hearing | Keith Conlon: Tallaght dad who died while hunting killed by gunshot wound to head, inquest hears
NEGATIVE VIBES | Damien Dempsey reveals shock at discovering Ian Bailey is mega-fan of his music
investigation | Body of a man in his 70s found washed up off the coast of Donegal
'Upsetting' | Greg O’Shea left Love Island villa in disguise to attend granny’s funeral
Rush hour ruckus | Pictured: Two men accused of hijacking Tesco van ‘to get back to their own side of town’
huge blow | Custom officers inspecting wood cargo seize cocaine worth massive €117m
RIP | Funeral details for alleged assault victim Paul ‘Babs’ Connolly announced
Fliuch Sake | M50 floods as Status Orange warning brings thunderstorms and showers