Thai-based department store owner Central sizes up Selfridges takeover

[webfact]

Image:Selfridges is understood to have a £4bn price tag

 

Central Group has been working with investment bankers to help it explore a takeover bid for Selfridges, one of the world’s most prestigious department store operators, Sky News understands.

 

Mark Kleinman

City editor 

 

A Thai-based conglomerate which owns the Italian department store Rinascente is among a pack of suitors weighing multibillion pound takeover bids for Selfridges, the owner of one of Britain’s landmark shopping destinations.

 

Sky News has learnt that Central Group, which is controlled by the Chirathivat family, is among a number of parties to have expressed an interest in acquiring the globally renowned retailer.

 

Sources said that Central was working with investment bankers at Citi on its interest in Selfridges, although they cautioned that there was no certainty that a formal bid would emerge from the Asian group.

 

Full story: https://news.sky.com/story/thai-based-department-store-owner-central-sizes-up-selfridges-takeover-12466049

 

-- © Copyright sky news 2021-11-12

 

- Whatever you're going through, the Samaritans are here for you

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

 

[mokwit]

Isn't it in trouble because Department stores are yesterday's retail model?

[mikebell]

So not all businesses in Thailand are suffering falls in profit?

[DeaconJohn]

Another iconic British brand name on sale to the highest bidder.

   Do the Brits own anything anymore?

[elwood]

16 minutes ago, DeaconJohn said:

Another iconic British brand name on sale to the highest bidder.

   Do the Brits own anything anymore?

It is currently owned by a Canadian group anyway.

[John Drake]

19 minutes ago, DeaconJohn said:

Another iconic British brand name on sale to the highest bidder.

   Do the Brits own anything anymore?

Thailand buying out British stores, soccer teams, and what else.  Funny to me. The UK is a literal subsidiary of Thailand.

[KhunLA]

Another 'brand' hoping to get saved from 'iconic' failure.  Asia rocks ... ????

[John Drake]

2 hours ago, mokwit said:

Isn't it in trouble because Department stores are yesterday's retail model?

When I buy something, usually, I like to see it, how it works, does it fit, how well is it made, etc. Getting a drone drop for underwear you ordered large that ends up being small because it was made for Asians is not what I want to see.

[VocalNeal]

5 minutes ago, John Drake said:

The UK is a literal subsidiary of Thailand.

UK is a business. Will take anyone's money if the deal is right? Has always been thus.

It is about money, not about selling tat.

[Willy Wombat]

When a handful of families own nearly ever in Thailand it’s only natural to spend your billions overseas

[chickenslegs]

Is it this place?

[mikebike]

14 minutes ago, Willy Wombat said:

When a handful of families own nearly ever in Thailand it’s only natural to spend your billions overseas

Interesting group of countries at the top of the wealth inequality list...

 

 

[johng]

36 minutes ago, John Drake said:

Getting a drone drop for underwear you ordered large that ends up being small because it was made for Asians is not what I want to see.

That very thing just happened to me...luckily my wife said she would wear them so no need to send them back

I then ordered the XL size ????

[KhunLA]

3 hours ago, John Drake said:

When I buy something, usually, I like to see it, how it works, does it fit, how well is it made, etc.

If unfamiliar with the product, I also like hands on at a brick & mortar .... then I order it online ... ????

[bradiston]

Will they rename it Selfridges's's?

[roquefort]

3 hours ago, mikebike said:

Interesting group of countries at the top of the wealth inequality list...

 

 

How does Netherlands get to be ahead of Russia, Thailand and Saudi?

[chilli42]

7 hours ago, mokwit said:

Isn't it in trouble because Department stores are yesterday's retail model?

That’s right.  These kinds of stores are in trouble around the globe.  Thing is this Thai company is looking at this ‘takeover’ through their own local lens.  It’s a disaster waiting to happen.

[hotchilli]

7 hours ago, mikebell said:

So not all businesses in Thailand are suffering falls in profit?

That should be not all "families" ?

[kimamey]

6 hours ago, John Drake said:

When I buy something, usually, I like to see it, how it works, does it fit, how well is it made, etc. Getting a drone drop for underwear you ordered large that ends up being small because it was made for Asians is not what I want to see.

I think you've got a point there. Some things are OK to just buy, particularly if it's a repeat purchase but it's important to get people to touch things to encourage them to buy. For a while I not very successfully sold double glazed windows and taking a sample so it could be handled was a big part of selling. 

[hashmodha]

5 hours ago, chickenslegs said:

Is it this place?

Classic!????????????????????????

[josephbloggs]

54 minutes ago, chilli42 said:

That’s right.  These kinds of stores are in trouble around the globe.  Thing is this Thai company is looking at this ‘takeover’ through their own local lens.  It’s a disaster waiting to happen.

If only they read this forum they wouldn't be doing this - if only someone could enlighten them!

 

Sorry, but I think it's safe to assume the Central Group have a bit more business savvy than you - they have a pretty good track record of success globally.  

https://www.statista.com/statistics/861908/selfridges-retail-limited-revenue-worldwide/

[mokwit]

1 hour ago, chilli42 said:

That’s right.  These kinds of stores are in trouble around the globe.  Thing is this Thai company is looking at this ‘takeover’ through their own local lens.  It’s a disaster waiting to happen.

A Thai investment banker friend tells me these things are sometimes a way of getting money out of the country in very large amounts.

[d2b2]

6 hours ago, mikebike said:

Interesting group of countries at the top of the wealth inequality list...

 

 

Kind of a worthless ranking without knowing the source

[recom273]

3 hours ago, bradiston said:

Will they rename it Selfridges's's?

Im sure they will just drop the S because that's too difficult to pronounce - It will become Selfridge.

 

Just like "Centran"

Edited November 12, 2021 by recom273

[bradiston]

52 minutes ago, recom273 said:

Im sure they will just drop the S because that's too difficult to pronounce - It will become Selfridge.

 

Just like "Centran"

It was a reference to Lotus which got rebranded Lotus's, completely unpronounceable in Thai. Except as lo tut tut. So I guess Selfridges would become Selfrijit.

[bangon04]

1 hour ago, mokwit said:

A Thai investment banker friend tells me these things are sometimes a way of getting money out of the country in very large amounts.

The UK has a good reputation for high class government tolerated money laundering. It is a world leader.

[Chad3000]

This is why the baht is stronger. Pump it up for the big purchase.

[Burma Bill]

10 hours ago, mokwit said:

Isn't it in trouble because Department stores are yesterday's retail model?

Thank you, and probably "yes". It opened in 1909 (112 years ago) by an American on Oxford Street in London (UK). Its main rival was Debenhams, also on Oxford Street, which closed in January 2021. Maybe the CP Group (if successful) could turn it into the UK's largest 7-11 with the infuriating "ding dong, Welcome" (555)

Photo shows the main entrance from Oxford Street:-

 

[rooinekrsa]

8 hours ago, DeaconJohn said:

Another iconic British brand name on sale to the highest bidder.

   Do the Brits own anything anymore?

Sellfridges is owned by a Canadian family. The Westerns

[Kinnock]

4 hours ago, roquefort said:

How does Netherlands get to be ahead of Russia, Thailand and Saudi?

Two main reasons - the table is compiled using a simple formula (The Gini Coefficient), which does not include factors such as the standard of living of the 'under-classes'), and the long legacy of the Dutch East Indies Trading Company, which created huge wealth for a few families.

 

Plus, the population of The Netherlands is comparatively tiny, so some of the measures can mpact the statistical formula significantly.

 

More balanced ways of measuring wealth inequality would change the ranking ..... so it's more 'damned lies and statistics'.