Commercial commerce - Central Group assumes control of KaDeWe Group's business activities.
Luxury department stores KaDeWe (Berlin), Oberpollinger (München), and Alsterhaus (Hamburg) are selling their business operations to the Thai Central Group. This was reported by the German Press Agency, stating that a contract with the KaDeWe Group was signed on Friday.
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The Central Group, based in Thailand, is expanding its retail trade in Europe by acquiring business operations of notable luxury department stores in Germany. KaDeWe in Berlin, Oberpollinger in Munich, and Alsterhaus in Hamburg are among the stores being taken over. This acquisition is expected to significantly impact the finances and overall business operations of these stores.
Germany, known for its robust retail trade, is welcoming this move by the Central Group, which is already a major player in the retail sector in countries like Thailand and Myanmar. The acquisition of these high-end stores is set to further boost the luxury department store segment in Germany.
The Central Group's expansion to Hamburg, a city renowned for its luxurious shopping centers like Alsterhaus, is a strategic move to tap into the affluent market and compete with other rival luxury department stores in the region.
On the other hand, Bavaria, the state famous for its traditional craftsmanship and rich history, will also be impacted by this acquisition. Oberpollinger, a high-end store in Munich known for its exclusive luxury goods, will now be under Central Group's control.
The acquisition of KaDeWe Group's business activities by Central Group is a testament to the growing interest of foreign investors in the German retail market, especially in major cities like Berlin and Munich.
This transaction also highlights the global nature of the retail trade, with companies like Central Group navigating international business operations to expand their markets.
In conclusion, the Central Group's acquisition of KaDeWe Group's business activities is a significant development in the European retail trade, which is expected to shake up the luxury department store segment in Germany.
