Selfridges Group Limited announces its acquisition of the Dutch luxury department store chain de Bijenkorf from the Maxeda Retail Group for an undisclosed sum. The acquisition comes after consultation with the Works Councils, approval by the relevant competition authorities and the trade unions being informed.
Selfridges Group Limited is a family owned business with extensive know-how and experience in operating luxury fashion retail stores. Selfridges (UK), Brown Thomas (Ireland) and Holt Renfrew (Canada) are iconic brands with a long heritage, offering customers the most exclusive products and a truly extraordinary shopping experience within world-class environments.
De Bijenkorf is an iconic retail brand which has been operating since 1870. It is a Dutch institution and the country's leader in fashion and luxury goods across The Netherlands.
With the addition of de Bijenkorf, the Selfridges Group turnover is now approaching £2 billion. The acquisition is part of the Group's strategy to own and operate premier luxury stores in select markets.
De Bijenkorf will maintain its identity and continue to operate as a stand-alone business run by the management team in The Netherlands, reporting into Paul Kelly, Managing Director of Selfridges Group Limited.
W. Galen Weston, Chairman of Selfridges Group Limited said: “I am pleased to announce the acquisition of the de Bijenkorf business in Holland, one of the most important luxury goods companies in the Netherlands. This event will add great strength to our position in Europe. We look forward to working with them."
Selfridges Group Limited is a subsidiary of Toronto-based Wittington Investments, Limited. The Chairman of both companies is W. Galen Weston.
The business was founded by American entrepreneur Harry Gordon Selfridge in 1909 as an example of the first modern department store. Gordon Selfridge ran the store himself until he retired in 1940. After several ownerships the company was de-merged from the Sears Group in 1998 and floated on the London Stock Exchange.
Founded in 1870, de Bijenkorf is the leading department store in the Netherlands, with a broad, constantly updated portfolio of premium products and brands. De Bijenkorf has flag ship stores in Amsterdam, Rotterdam and The Hague as well as 9 stores across the Netherlands and an on-line store. De Bijenkorf was the winner of the Retailjaarprijs 2010, the retail award for best Dutch retail environment. De Bijenkorf has 4,100 employees.
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