Sir Philip Green’s struggling Arcadia fashion empire has lined up American skater shoes brand Vans to fill the prime Oxford Street site which was occupied by its Miss Selfridge brand, the Evening Standard has learned.
Arcadia, which last month secured a restructuring deal to close stores and cut rents, has agreed to lease the space next to its Topshop flagship to Vans.
Miss Selfridge has opened a concession in Topshop’s basement. Arcadia, which was advised by property agent Savills, is the landlord of the building.
Vans, famous for its chequerboard slip-on shoes, will open the new branch at the former Miss Selfridge site before the end of the year.
Simon Charlesworth, brand marketing director at Vans EMEA, said: “The Vans store on Oxford Street will be one of our largest stores globally. London serves as one of the key global retail market places and central hub of a thriving creative culture.”
Property firm CBRE’s executive director Graham Barr, who helped broker the new letting, said: “This will be a brand showcase for Vans, and the firm will benefit from huge footfall in the West End.”
Vans, which is owned by VF Corporation, will keep its Carnaby Street shop open.
