Skate brand Vans is to take over the former flagship site of Arcadia brand Miss Selfridge on London’s Oxford Street.
Sir Philip’s Arcadia fashion empire secured approval last month for a raft of 23 store closures and rent cuts as part of a Company Voluntary Arrangement (CVA).
Separate from the main CVA were plans to shut an additional 25 Miss Selfridge and Evans stores. Miss Selfridge’s flagship Oxford Street location was one of those affected, with the outlet moving into the basement of the neighbouring Topshop flagship at Oxford Circus.
Vans hopes to move into the building before the busy Christmas period kicks off. The store will be one of the brand’s largest locations in the world, and will have one of the biggest ranges of stock in Europe.
Arcadia, which was advised by Savills, remains the landlord of the building.
Vans owner VF Axtell was advised by CBRE. It is one of the first in what is likely to be a string of new tenants moving into former Arcadia premises in the coming months.
Yesterday Vans announced that it was rolling out its Vans Family loyalty scheme to the UK market, which enables is customers to earn personalised rewards for both purchasing and engaging.