Breuninger department store chain up for sale

What: The Breuninger department store chain and its associated real estate are up for sale, with 31 interested parties, including Galeries Lafayette, El Corte Inglés, and others.

Why it is important: The sale of Breuninger, a major player in the premium department store sector, could significantly reshape the retail landscape in Europe, with interest from prominent retail chains and financial investors.

The owners of the Breuninger department store chain have initiated the sale of both the retail business and its real estate, with 31 interested parties already expressing interest. The sale, known internally as "Project Keystone," includes notable bidders such as Galeries Lafayette, El Corte Inglés, and the Thai Central Group. The sale is anticipated to fetch around EUR 2 billion, with initial offers expected by the end of October. The outcome of this sale could have a major impact on the European retail market, given Breuninger's strong presence in premium department stores and its significant online operations.