×
1 033
Fashion Jobs
LEVI'S
Performance Marketing Manager
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Bentalls, Kingston - 22.5 Hours / 4 Days - Part Time, Permanent
Permanent · Kingston upon Thames
SHISEIDO
Ecommerce Manager - Nars, Shiseido & Drunk Elephant
Permanent · London
VANS
Account Coordinator - Dutch Speaking - Vans
Permanent · NOTTINGHAM
ESTÉE LAUDER
The Estée Lauder Companies - CRM And Loyalty Manager
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Bluewater - 25.5 Hours - Part Time, Permanent
Permanent · Dartford
ESTÉE LAUDER
Clinique - Consultant - Boots - Metro, Gateshead - 21 Hours - Part Time, Permanent
Permanent · Gateshead
ESTÉE LAUDER
Director, Global Social Marketing
Permanent · London
ESTÉE LAUDER
Tom Ford - Business Manager - John Lewis, Milton Keynes - 37.5 Hours, Days - Full Time, Permanent
Permanent · Milton Keynes
SHISEIDO
Nars Account Manager, Fenwick Bond Street (37.5 Hours)
Permanent · London
LIBERTY LTD
Sales Manager
Permanent · LONDON
LIBERTY LTD
Retail Security Officer
Permanent · LONDON
VF INTERNATIONAL
Inbound Logistics Analyst - 12 Month Ftc
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Trainer
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTÉE LAUDER
Clinique - Consultant - Boots, White City London - 35 Hours - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Harvey Nichols, Birmingham - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Birmingham
ESTÉE LAUDER
Regulatory Scientist - Global Ingredients Compliance
Permanent · Petersfield
SHISEIDO
Finance Analyst
Permanent · London
SHISEIDO
Area Sales & Education Manager | Central South England (Ftc)
Permanent · Reading
HUGO BOSS
Sales Manager - Hugo
Permanent · London
ASICS
Field Sales Representative
Permanent · Warrington
Published
Jun 11, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Selfridges owners reportedly mull sale with £4bn price tag

Published
Jun 11, 2021

Selfridges is reportedly up for sale — or at least its owners are exploring their options — after a mystery buyer approached the business with an offer, reports claimed on Friday.


Selfridges



The controlling Weston family is believed to be seeking around £4 billion for the operation that cost them £598 million back in 2003. Reports said Credit Suisse is acting as adviser on the process.

No deal is guaranteed and the family hasn’t commented on the reports.

The group includes the UK Selfridges department stores, Ireland’s Brown Thomas and Arnotts, and Netherlands-based De Bijenkorf. It’s unclear whether the entire group would be sold, but it’s believed that the UK and Irish stores do form part of the talks.

React News first reported the story and said that half the value of any £4 billion deal would be accounted for by the group’s real estate, which includes prime positions in key shopping hubs.

The company has just come through one of its toughest 15 months in the 113-year history of the Selfridges name after its stores were closed for long periods due to lockdowns, and tourism ground to a halt. The impact saw it cutting a raft of jobs last year.

That said, profits have more than doubled at the group since the Westons took the business over and sales have risen more than 80%. Sales in its most recently reported business year (the 12 months before the pandemic) reached £1.97 billion.

There’s no hint as to the identity of the mystery bidder but the approach is likely to have come from outside the UK. Prestige department stores in Britain have been popular assets for international bidders over the years and currently, Harrods, Harvey Nichols and Liberty are all owned by international entities.

Selfridges, despite its problems last year, remains a highly prized asset. It’s a destination retailer and when tourism is operating normally, is a magnet for international visitors.

The group is owned by the Weston family through Wittington Investments. A source familiar with the business told the FT that it’s surprising the family is entertaining a sale, but the firm’s heavy dependence on the overseas tourism that could take some time to bounce back may be behind its apparent willingness to enter talks.

The executive also said a sale to a sovereign wealth fund or mega-rich individual was more likely than a private equity takeover.

Copyright © 2022 FashionNetwork.com All rights reserved.