German retailer KaDeWe sold to Thai group

Thailand’s Central Group, which also owns Selfridges, has fully acquired German retailer KaDeWe, after having bought the iconic department store of the same name a few months earlier.

Three department stores

The group from Bangkok had been co-owner of the German retailer along with the Signa Group, but real estate group belonging to the controversial Austrian businessman René Benko met an untimely end late last year. De Central Group has now made a deal regarding the remaining shares.

Last April, Central had already bought the iconic KaDeWe building in Berlin, but now it has also bought the stores in Hamburg and Munich.