Thailand’s Central Group is exerting greater control over its European retail operations with the acquisition of 100% of KaDeWe’s three department stores. Central is now sole owner-operator of KaDeWe Group, which comprises KaDeWe in Berlin, Oberpollinger in Munich, and Alsterhaus in Hamburg. It has also finalized the purchase of the KaDeWe building on Tauentzienstrasse, Berlin’s famous shopping street, and created a new operating company, KaDeWe GmbH.

Tos Chirathivat, Executive Chairman & CEO of Central Group, said: ‘The acquisition of all three KaDeWe stores ‘brings to an end a period of uncertainty for KaDeWe and demonstrates our unwavering commitment to supporting our European business. We are delighted to have all three German stores back in our flagship store portfolio, on improved terms, along with our ownership of the landmark Berlin property.’

Join us in congratulating Central for this important completion.