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Thailand's Central Group bets on Europe with Selfridges bid

Tourists want luxury shopping destinations, says CEO of retail giant

Central Group and Signa Holding plan to develop the site around Selfridges' flagship department store at London's Oxford Street. (Photo courtesy of Selfridges)

BANGKOK -- Thailand's top retailer Central Group will double its footprint in Europe once it completes its purchase of upscale British chain Selfridges Group, its latest acquisition in the region.

Although European markets are maturing, the Thai conglomerate sees high-end flagship stores as essential landmarks in big cities, according to Central Group CEO Tos Chirathivat and a representative of real estate group Signa Holding in a joint written interview with Nikkei.

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