The property of the Berlin luxury department store KaDewe now belongs entirely to the Thai Central Group. The previous owner, the insolvent Signa Prime Selection, and the group had reached an agreement for the complete acquisition.
So far, Central holds 50.1 percent of it, 49.9 percent belongs to the troubled Signa Group of the Austrian businessman René Benko. The KaDeWe has 60,000 square meters of shopping space in the middle of the capital - the equivalent of around eight football fields with high-quality clothes, shoes, handbags and delicatessen. The department store was most recently renovated over the years from 2016 at a cost of tens of millions of euros. The Galeries Lafayette are leaving Berlin in the summer - so Ka deWe will have one less luxury competitor in the capital in the future. The “Department Store of the West” is significantly older than the Cold War that its name sounds like. It was opened on March 27, 1907 - in what was then an upper-class residential area.