La Rinascente bought by Thailand's largest retailer
Italian retailer to become a global luxury brand
La Rinascente has been sold to Central Retail Corporation, Thailand's largest retailer, in a deal valuing the Italian department store chain €205m. The luxury retailer owns 13 department stores across Italy and was put up for sale this year by investors. “La Rinascente will become a global brand,” said Tos Chirathivat, ceo of Central Retail Corporation. “We want to strengthen the brand and export it abroad, especially in emerging markets.” Chirathivat also said that the expansion will involve main Eastern European cities, the Middle East and China.
