UK retailer Selfridges buys Dublin department store Arnotts
The department store operator announced on Monday the acquisition of Arnotts, one of Ireland’s oldest and largest department stores, from Fitzwilliam Finance Partners for an estimated £70m.
Located on Dublin’s Henry Street - one of the busiest shopping thoroughfares in Dublin’s city centre - Arnotts joins other upmarket department stores in Selfridges’ portfolio, which also includes Brown Thomas in Ireland, Holt Renfrew in Canada, Selfridges & Co in the UK, and de Bijenkorf in the Netherlands.
The multi-category retailer, selling womenswear, menswear, footwear, childrenswear, homewear, beauty, jewellery and accessories, was founded in 1843 and spreads over 267,000 ft².
Selfridges Group, owned by Canadian entrepreneur, Galen Weston and his Irish wife Hilary Weston, plans to invest significantly in the Dublin department store, adding new premium brands to its offering and upgrading the shopping experience. However, “Arnotts will continue to preserve its own unique and much loved identity,” said the holding.
Paul Kelly, Managing Director of Selfridges said: “Selfridges Group is delighted to be taking over the management of Arnotts department store. We have an excellent track record leading retailing in Ireland. Arnotts will benefit from our global retail experience and continual investment. Our priority will be to build on the legacy of this great Irish brand and we will look to enhance the customer experience while cherishing Arnotts unique heritage, which has been an essential part of Dublin’s retail landscape for over 170 years.”
Selfridges also announced the appointment of Paul Kelly as Chairman of ARHL, the parent company of Arnotts, and of Donald McDonald as Managing Director of the Arnotts business, taking over Ray Hernan, who was Chief Executive of Arnotts Group until now.
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