Saudi Arabia’s Public Investment Fund (PIF) has announced a strategic partnership with Central Group, a major player in retail, real estate, and hospitality. As part of the deal, PIF will acquire a 40% stake in the Selfridges Group, while Central Group will retain 60%.
The partnership aims to strengthen Selfridges’ market position and support future growth through new investments. Turqi Al-Nowaiser, PIF’s deputy governor, expressed excitement about the collaboration, highlighting Selfridges as a premier luxury retail destination in Europe.
This move aligns with PIF’s global investment strategy and aims to enhance Selfridges’ role as a key player in the European luxury market. Selfridges Group operates 18 luxury department stores, including iconic locations in London and Manchester.