BANGKOK -- Thai retail giant Central Group said European luxury retail would remain the core of its growth strategy, following its purchase of British department store chain Selfridges Group.
The sale, reportedly worth 4 billion pounds ($5.3 billion), was finalized last month, at a time when the European retail sector is struggling with high inflation and the U.K. economy faces recession. Together with Austrian real estate group Signa, Central now owns 18 department stores in England, Ireland and the Netherlands under Selfridges' portfolio.
