Selfridges’ new owners, Central Group and Signa Holding are looking to redevelop “underutilised space” at its flagship Oxford Street store.
The pair, which completed the joint venture £4bn acquisition from the Weston family last month, said the redevelopment of the underutilised hotel, car park and mews is being assessed to create additional value to the marquee store on Oxford Street.
According to Retail Gazette, the new Thai and Austrian owners are also looking to lean further into its online business.
Central Group and Signa Holding reportedly plan to use data and technology to personalise the customer experience while expanding Selfridges’ presence into 11 countries including Germany and Italy.
The pair had previously revealed plans to integrate Selfridges’ e-commerce platforms with their own platforms.
Thailand-based Central Group owns around 3,700 stores globally and partnered with Austrian retail and real estate firm Signa in 2015.