SIGNA and Central Group acquire GLOBUS
In a 50:50 joint venture, SIGNA and Central Group acquire the Swiss luxury department store chain “GLOBUS“, along with eight associated real estate properties at top inner-city locations, from the Migros-Genossenschafts-Bund (MGB). SIGNA and Central jointly own Germany’s KaDeWe Group with upcoming projects in Dusseldorf and Vienna, Austria, while Central Group currently owns 9 Rinascente stores in Italy and Denmark’s Illum. With GLOBUS, the combined presence of SIGNA and Central will span 5 countries in the continent – Germany, Austria, Italy, Denmark, and Switzerland – making both the leading operators and owners of luxury department stores in Europe.
Strong new ownership
The new owners SIGNA and Central Group are family-owned companies with unique know-how in the retail and real estate business in Europe and Asia. They share a strategic long-term and sustainable partnership reflected in the successful joint venture of the European Luxury Department Store Group. With a combined revenue of EUR 18 billion, approximately 130,000 employees and a unique inner-city real estate portfolio, SIGNA and Central Group are among the leading retail and real estate companies in their core markets of Europe and Asia.
SIGNA is a private holding company with a focus on real estate, retail and media. The family-owned business is one of the leading real estate and retail companies in Europe
The Thailand-based Central Group has been a family-owned company for several generations with a focus on retail, hotels, restaurants and real estate.
European Luxury Department Store Group
The European Luxury Department Store Group is the leading operator of luxury department stores with strong international and local traditional brands. The group unites the leading luxury department stores The KaDeWe Group (Germany and soon Austria), Rinascente (Italy), Illum (Denmark) and most recently also GLOBUS (Switzerland) under one umbrella. The European group offers GLOBUS unique strategic perspectives for long-term success and sustainable growth. Together with GLOBUS, the group will become the clear leader among luxury department stores in Europe, covering Southern, Central and Northern Europe. Thereby, it continues to pursue its strategy under the ownership of SIGNA and Central Group in order to strengthen and further develop the national traditional brands into luxury icons with international prestige.
The newest member of the European Luxury Department Store Group is GLOBUS – the leading luxury department store in Switzerland.
The KaDeWe Group
Innovative and groundbreaking – the “KaDeWe“ in Berlin, the “Alsterhaus“ in Hamburg and the “Oberpollinger“ in Munich are among Germany’s most significant department stores and the most prestigious in all of Europe.
The historic company Rinascente with a tradition stretching back over one 150 years comprises 9 luxury department stores in 8 Italian cities.
Ever since it was founded by Anton Carl Illum in 1891, Illum has been one of Denmark’s leading department stores.