Men’s lifestyle brand Hackett is understood to be acquiring a prominent store on Regent Street.
Hackett, which has about 10 stores in the UK, is thought to be on the verge of completing the deal for the store currently occupied by Ferrari, which could go through as early as today, Drapers sister site Retail Week has learned.
It is thought Hackett will be relocating from its existing store on the famous shopping street.
Regent Street owner Crown Estate has been transforming the shopping mecca in recent years, pulling in big name brands including Superdry and Hollister. Burberry opened a flagship on the street last year.
Ferrari’s store was opened to great fanfare in 2009 by Ferrari driver Kimi Raikkonen. It is not known why Ferrari is closing the store.
Property firms Savills and Kitchen La Frenais Morgan advised on the deal.
Savills and Kitchen La Frenais Morgan declined to comment.