In a landmark move poised to reshape the luxury retail landscape in Europe, Central Group has announced the successful acquisition of the KaDeWe Group’s three prestigious department stores in Germany. The Thai conglomerate, known for its dominance in retail, real estate, hotels, and resorts, both domestically and internationally, has now fully integrated KaDeWe Berlin, Oberpollinger Munich, and Alsterhaus Hamburg into its expansive portfolio.
Tos Chirathiwat, Chairman of the Board of Directors at Central Group.
Central Group’s acquisition includes the prime real estate housing of these iconic department stores, notably the renowned KaDeWe on Berlin’s Tauentzienstraße, one of the city’s most famous shopping streets. This strategic expansion underscores Central Group’s commitment to reinforcing its presence in the European luxury market.
With this acquisition, Central Group becomes the exclusive owner and operator of these elite department stores, rebranding them under the new entity, KaDeWe GmbH. This move solidifies Central Group’s footprint in Germany and positions it as a pivotal player in Europe’s high-end retail sector.
To steer this new venture, Central Group has appointed Timo Weber as Chief Executive Officer and Simon Heift as Chief Purchasing and Merchandising Officer of KaDeWe GmbH, effective immediately. Weber, who previously served as Retail Director of the KaDeWe Group, brings a wealth of experience and an intimate understanding of the brand’s operations, people, and culture, ensuring a seamless transition and continued excellence.
“We are thrilled to welcome these three German department stores into our European luxury department store portfolio,” stated Tos Chirathiwat, Chairman of the Board of Directors at Central Group. “This acquisition not only aligns with our strategy to operate sustainably but also highlights our dedication to supporting and driving growth in Europe’s retail market. The real estate involved is a significant landmark in Berlin, and we are committed to nurturing and enhancing its value.”
Oberpollinger.
Chirathiwat further expressed his gratitude to the executives and staff at KaDeWe, who have shown remarkable resilience and dedication during challenging times. He emphasized Central Group’s focus on leveraging its retail and service expertise to bolster the performance of KaDeWe and all its European department stores. “We aim to harness the unique strengths of each location to promote and develop the business collectively, driving growth and creating a sustainable future for our employees, partners, and customers.”
This acquisition marks a significant milestone for Central Group, reinforcing its strategy to expand its luxury retail footprint across Europe. By integrating these iconic German department stores, Central Group enhances its portfolio and sets a new benchmark for excellence in the luxury retail sector.
The strategic move is expected to drive robust growth and prosperity, further cementing Central Group’s global luxury retail industry leader position. With a keen focus on sustainability and innovation, Central Group is poised to elevate the shopping experience and deliver unparalleled value to its customers and stakeholders.
For more information on Central Group’s latest acquisition and its impact on the European luxury retail market, visit Central Group’s official website and KaDeWe GmbH.
Written by: Yves Thomas
