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In a landmark move, Central Group has clinched full ownership of the iconic Kadewe Department Store building in Berlin’s premier shopping district. This acquisition from Cigna Prime Selection AG not only enhances Central Group’s foothold in European luxury retail but also marks the transformation of Kadewe into a wholly integrated entity within its portfolio.

Located on Tauentzienstraße, the heart of Berlin’s retail world, the Kadewe building spans over 60,000 square meters and boasts a prestigious history stretching over a century. As Germany’s most prominent luxury department store, Kadewe attracts more than eight million visitors annually, offering an unparalleled selection of high-end fashion, gourmet food, beverages, and fine wines. Its striking architecture and commitment to innovation make it a must-visit destination for tourists globally.

Mr. Thos Chirathivat, Chairman of the Executive Committee at Central Group.

Central Group’s strategic acquisition signifies a pivotal moment in its long-standing relationship with Kadewe Group, which includes three luxury department store branches in Germany. Previously holding a 50.1 percent stake since 2015, while Cigna retained full real estate ownership, Central’s latest move transitions it from a significant stakeholder to the sole proprietor of Kadewe’s flagship branch.

Mr. Thos Chirathivat, Chairman of the Executive Committee at Central Group, expressed his enthusiasm about the acquisition. “We are thrilled to welcome Kadewe Berlin fully into Central Group’s distinguished collection of properties,” he stated. “This acquisition underscores our commitment to enhancing the value we deliver to our customers, employees, and business partners across Europe. We are dedicated to advancing our collaborative efforts to ensure that our shopping venues resume normal operations and emerge stronger than ever.”

The deal secures a prized asset for Central Group and promises to invigorate Kadewe’s operational capabilities, making it a beacon of luxury retail in Europe. The acquisition is expected to offer numerous strategic benefits, including enhanced customer experiences, increased operational efficiency, and strengthened market presence, which will help fortify Central Group’s vision for growth and innovation in the luxury sector.

Central Group’s bold step forward with Kadewe is seen as a testament to its robust strategy and commitment to maintaining and enhancing the allure and historical significance of one of Berlin’s most storied retail landmarks.