Selfridges has attracted a bid from a potential buyer at a $5.7 billion valuation, the latest indication that the department store’s big bet on physical retail is paying off. But after a bruising pandemic year, the British chain could struggle to rebound amid a continued collapse in international tourism and a shift to online sales.

The boss behind UK-based Selfridges Group, whose portfolio includes luxury department stores across Europe and Canada, explains how customer-centric thinking and a return to local shopping could unlock retail’s recovery.

Louis Vuitton’s new multi-storey "Townhouse" at London’s Selfridges offers an elevated, flagship-like brand experience inside one of the world’s most democratic and high-traffic luxury department stores.