Italian department store La Rinascente expands abroad with acquisition of Illum in Copenhagen

Italian La Rinascente chain of department stores, owned since 2011 by Thai based Central Retail Corporation has acquired the Illum luxury department store in Copenhagen, Denmark – the first such investment outside Italy. La Rinascente plans to invest 50 million euros in renovating and redesigning Illum which is due to re-open late 2014.

The move comes as strategic, given the growing influx of Asian and South American wealthy shopper to Europe, and Copenhagen is among Europe’s best connected city, with a wealth of leisure offerings.

Illum Department Store Copenhagen