Austria
This coverage examines retail business developments and market activity in Austria, with a focus on insights relevant to UK retail professionals. Reporting highlights store openings, market entry strategies, brand performance, and trends shaping Austrian retail. Designed for executives and managers evaluating international growth, competitive dynamics, and opportunities within Austria’s retail environment.
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Dec- 2024 -12 DecemberDepartment Stores
Selfridges co-owner admits £4bn price was ‘too high’
Tos Chirathivat, the executive chair and CEO of Thai family conglomerate Central Group, said in a conversation with The Financial Times that it may have overpaid for its acquisition of Selfridges and other European luxury department stores as part of a £4bn deal in 2021. According to Chirathivat, whose group’s…
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Jul- 2024 -22 JulyNews
Today’s news in brief
Saudi Arabia’s Public Investment Fund (PIF) is looking to significantly increase its stake in Selfridges. Currently holding 10%, PIF has offered $1.3m (£1m) to acquire an additional 40% from Signa’s flagship property unit, following Signa’s insolvency earlier this year. This move positions PIF against other potential suitors like Thailand’s Central…
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22 JulyDepartment Stores
Saudi wealth fund looks to up Selfridges stake to 50%
Saudi Arabia’s Public Investment Fund has reportedly made an offer to raise its stake in Selfridges from 10% to 50%, according to documents seen by Bloomberg News.The move comes after the department store’s co-owner Signa fell into insolvency earlier this year. The PIF currently owns a 10% share in the…
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Mar- 2024 -19 MarchClothing & Shoes
Castore agrees Umbro Pro Team Sports license
Castore has announced it has completed a deal with Umbro licensee, GL Dameck to sign an exclusive Umbro Professional Team Sports sub-license allowing Castore to market the Umbro brand in the UK, Germany, Austria, Switzerland, Belgium, Netherlands and Denmark. Following a £145m investment round in November 2023, Castore said it…
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18 MarchNews
Today’s news in brief-18/3/24
The Saudi PIF, along with Kering, is reportedly eyeing a stake in Selfridges as the store’s co-owner, Central Group, faces financial struggles due to the collapse of its Austrian partner, Signa. The potential deal, valued around £2bn, is complicated by legal proceedings in Austria. Selfridges reported a narrowed loss and…
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18 MarchDepartment Stores
Saudi PIF and Kering eye Selfridges stake
Saudi Arabia’s Public Investor Fund (PIF) and Gucci owner Kering are reportedly considering a stake in luxury department store Selfridges as its co-owner continues to struggle with its financing, according to The Telegraph. The outlet said that the collapse of Austrian co-owner Signa has left Thailand’s Central Group searching for…
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Feb- 2024 -22 FebruaryNews
Today’s news in brief-22/2/24
Taxpayers are expected to cover millions in redundancy payments for laid-off staff at The Body Shop as the company undergoes restructuring. The company’s administrators plan to close nearly half of its stores, affecting over 2,200 employees. Only staff with over two years of tenure qualify for redundancy pay, with payments…
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22 FebruaryClothing & Shoes
Pepco to cease Austrian operations
Pepco Group has announced that it is set to cease its operations in Austria as it does not foresee that the Austrian market will reach the appropriate level of returns expected. The company stated that the exit from the Austrian market will improve the group’s cash flow and underlying profitability…
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Sep- 2023 -11 SeptemberNews
Discount Dragon acquires Motatos UK
Online discount supermarket Motatos has been acquired by the parent company of Discount Dragon for an undisclosed sum. The news comes after Motatos’ recent announcement that it is exiting the UK market with immediate effect. The Swedish retailer launched in the UK in June 2022 offering discounts on food brands,…
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May- 2023 -18 MayHigh Street
Pepco continues international expansion
Pepco has announced that it is set to launch in Portugal following its successful launch in Spain. The Poundland owner is set to open a new store in Coimbra on 18 May followed by new openings in Albufeira and Olhão during May 2023. The brand will also set up stores…
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