If media reports are anything to go by, the new owners of Selfridges are targeting regional cities.
And if that happens it could well lead to the fashion retailer’s first new stores in the UK in 20 years.
The retailer, at present, operates from London’s Oxford Street, besides the Birmingham store and two stores in Manchester.
Corroborating more on retailer’s aim to target regional cities, Stefano Della Valle, CEO, Central Group Europe, said that company’s strategy is not only stay in capital cities with stores of 20, 30 or 50,000 square metres, but also be present in Tier-2 cities or even small cities.
It was only last month Central Group and Signa Holding had officially bought Selfridges for £ 4 billion from the Weston family.
While the Group doesn’t have any immediate plans for new stores in the UK, it said that it is ‘alive to opportunities’, which means it is open to exploring those plans.
The retailer added that a priority for the venture is the refurbishment of the Oxford Street food hall, which could take two to three years. They are also considering options for the former hotel and car park behind Selfridges’ vast main store building.
Selfridges was founded in 1908 and has its headquarters in London.
