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Ownership battle brews as Saudi Arabia PIF and Gucci owner eye stakes in Selfridges

In a renewed bid for control, Selfridges finds itself at the centre of an ownership battle, with Saudi Arabia's Public Investment Fund (PIF) and luxury goods conglomerate Kering, owner of Gucci, considering acquiring stakes in the iconic UK department store.

Following the collapse of Signa, Selfridges' co-owner, interest in the retailer's ownership has surged as shares become available for acquisition. However, the complex legal proceedings in Austria surrounding Signa are likely to delay any immediate moves for its stakes.

Photo © VVShots |

Sources familiar with the matter revealed that Selfridges' other co-owner, Thailand's Central Group, is actively seeking a new partner amid the growing uncertainty surrounding Signa's future.

While interested parties await clarity on Signa's situation, it is speculated that the stake could be valued at approximately £2 billion.


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