Selfridges (London) may be trading owners in a $5.3 billion sale, reports Forbes. The Thai-based Chirathivat family is planning to purchase the company from the Westons, the Canadian family currently in ownership of the storied London retailer.
The Chirathivat family owns the international company Central Group, which will not be completing the deal – the family will reportedly be purchasing Selfridges directly.
As part of the move, it’s reported that Vittorio Radice, the former Selfridges CEO that left the business 18 years ago, may return working for the retailer. Radice currently runs a division of Central Group that oversees luxury department stores in Germany, Denmark and Italy.
The deal includes Selfridges’ four U.K.-based stores and De Bijenkorf in the Netherlands, as well as Brown Thomas and Arnotts, both in Ireland.