Hugo Boss is said to be in advanced talks to take half of Esprit’s former Regent Street flagship in central London.
The 26,000 sq ft store closed recently after Hong Kong and Germany-headquartered men, women and kidswear brand and retailer Esprit said last year it was considering a full-scale exit from its standalone stores.
The store at 178-182 Regent Street will be split into two, according to the trade publication Property Week. Hugo Boss is looking at one half and talks are ongoing for the other half, it said. The front of the store is expected to be redesigned to allow for two separate retailers.
Last month Esprit issued a profit warning, stating that it expected to record a “substantial loss” for the full year to June 30.
The publication reported it has been working with property advisor Harper Dennis Hobbs to close a number of stores and most recently has surrendered its lease for the store in question with the landlord The Crown Estate.
Its year-on-year space occupation for the first half of the 2014/15 financial year fell 231% after the company closed a number of unprofitable retail stores, according to Property Week.
Premium German brand Hugo Boss currently has a slightly smaller flagship at 184-186 Regent Street, as well as other stores in London including Canary Wharf and Carnaby Street.
Esprit has a store in Brighton, a franchise store in Lymington, and shop-in-shops in Banbury in Barnstaple, Goulds in Dorchester, Houstons Fashion in Enniskillen, Bentals in Kingston-upon-Thames, James Selby in London, Cuddy’s department store in Magherafelt in Northern Ireland, Rhubarb in County Armagh, and Daniels of Windsor in Berkshire.