6 RETAIL NEWS CAPSULE
PHILIPPINE RETAILING
Gokongwei family launches master brand for businesses
The Gokongwei family has launched a master brand for the Gokongwei Group to represent all the companies under its diversified business portfolio , including some of the country ’ s largest entities .
Lance Y . Gokongwei , who heads the group , said the family name carries with it the legacy of his father — the group ’ s founder John L . Gokongwei , Jr ., and the industrialist ’ s brothers Henry , Johnson , and James
“[ It is ] a legacy of integrity and reliability , and one which my siblings , cousins and I in the third generation have been working very hard to live up to . It is our fervent hope that this legacy will live on to succeeding generations of the Gokongwei family , so that we can continue to make lives better and … yes to make our forefathers proud ,” he said .
The master brand was launched during the 30th Anniversary event of the Gokongwei Brothers Foundation . It is said to embody the group ’ s commitment to carry on its founder ’ s legacy of disruptive business innovations and building businesses that improve lives and provide better choices . It also highlights the scale , culture , and integration of the Gokongwei group of companies .
“ It is represented by a timeless wordmark in dark blue and green to symbolize the trustworthiness of blue and the growth of green . The tip of an arrow is incorporated in the first G to represent trajectory and forward-thinking ,” the group said in a media release .
Among the companies under the umbrella brand name is JG Summit Holdings , Inc ., one of the largest and most diversified Filipino conglomerates , and its subsidiaries : Universal Robina Corp .; Cebu Air , Inc ., which operates Cebu Pacific ; Robinsons Land Corp .; Robinsons Bank Corp .; JG Summit Olefins Corp .; Robinsons Retail Holdings , Inc .; and Summit Publishing Co ., Inc . or Summit Media .
Established in 1992 , the Gokongwei Brothers Foundation has for the past three decades “ equipped learners with the tools they need to grow and develop as well-rounded members of the community . It has also provided the content and technology teachers and other stakeholders need to develop their skills as educators .” ( Business World , 08 / 29 / 2022 )
Central Group settles Selfridges Group deal
Thai retail conglomerate Central Group and Signa Holding have completed their acquisition of UK department store chain Selfridges Group from the billionaire Weston Family .
Meanwhile , Tos Chirathivat , executive chairman and CEO of Central Group , and Dieter Berninghaus , chairman of the executive board of Signa Holding will be the new co-chairman of the group .
“ We are long-term investors with a well-established partnership and shared vision to reshape and reinvent the luxury retail industry ,” Chitathivat and Berninghaus said in a statement .
“ We are committed to creating the world ’ s leading luxury omnichannel platform for all our customers through both online and offline channels .”
( Inside Retail Asia , 08 / 19 / 2022 )
The US $ 5.37 billion deal , disclosed last year , will see Selfridges Group join Central and Signa ’ s existing portfolio of 22 luxury department stores and two new stores to open in Dusseldorf and Vienna . Selfridges Group has 18 stores under four banners in three countries .
Current MD of The Selfridges Group , Anne Pitcher , will resign from her role at the end of the year following the deal ’ s closure . CEO of Central and Signa ’ s luxury department store group in Europe , Stefano Della Valle , will lead Selfridges Group under his expanded role .