Retail

Selfridges Named Best Department Store In The World

Selfridges has been named best department store in the world at the Global Department Store Summit in London.

The two other finalists at the event, which was sponsored by the Intercontinental Group of Department Stores, were France’s Printemps and Italy’s Rinascente.

According to Chain Store Age, the criteria for the award include successful development and executions of product, store, online and service innovation strategies; delivery of an outstanding in-store experience; excellent customer service; and strong financial performance.

Founded in 1909 by American businessman H. Gordon Selfridge, Selfridges aims to provide customers with a one-of-a-kind shopping experience. The company is looking to complete a £300 million capital expenditure program by the end of 2018 that includes a transformation of the London store on Duke Street, with a new grand entrance and a new Accessories Hall, designed to become the largest destination for luxury accessories in the world.

The plans also include significant investment in the brand’s digital capabilities, comprising the launch of the Selfridges app and the expansion of Selfridges.com.

This is its fourth time being named the best department store in the world by IGDS. It will retain the title until 2020.

“We are thrilled to have Selfridges recognized again as the best department store in the world,” Anne Pitcher, Managing Director of Selfridges, said in a press release. “This award is a huge honor and perfectly timed, as we near the completion of our transformation program for Selfridges London. It is also a great tribute to the commitment of our teams and gives us even greater inspiration to exceed our customers’ expectations in delivering extraordinary experiences.”

IGDS is the largest association of department stores worldwide and has 42 members from 38 countries on five continents. Its Global Department Store Summit, held every two years, is the world’s only department store-focused discussion platform, and was attended by over 380 prominent executives and stakeholders from all over the world.

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