G-Star is the frontrunner to secure a prime property on Regent Street.
A source close to the situation told Drapers that the Dutch denim brand had made a “very significant” offer on an undisclosed property in the top London location, but had yet to secure the bid.
Other parties are interested in the same premises, though the source said: “None of the others could come close to what G-Star has offered.”
It is not clear whether the store will be company-owned or franchise, but earlier this year G-Star unveiled plans to use franchise stores to drive global expansion. Currently, all G-Star UK stores are franchised.
At the time global brand director Shubhankar Ray said the brand was targeting larger cities, which provided a greater opportunity for growth.
G-Star would be the latest in a number of brands to take up residence on the street. Burberry opened its flagship store there earlier this month and Aquascutum is also looking for properties in Bond Street or Regent Street.
G-Star did not respond to requests for comment.