Selfridges unveils £300m Oxford St investment

Selfridges is planning to revamp its flagship London store, famous for extravagant window displays, in a £300m, five-year investment.

The group will begin redeveloping the Oxford Street site next month in what Selfridges describes as the largest ever single investment in a department store.

The accessories offering will be expanded, with the handbag department more than doubling to encompass 50,000  sq feet, and a new store entrance will be created on the east side of the building, on Duke Street.

In addition, the bulk of the Selfridges UK head office will be moved to Wigmore Street nearby.

Galen Weston, Selfridges chairman, said: “This significant investment in the redevelopment of our Oxford Street store is part of our commitment across all our businesses to provide leading luxury shopping experiences for our customers around the world.”

Mr Weston, a Canadian billionaire, bought the department store group in 2003. The business was founded by American Harry Gordon Selfridge in 1909.

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