Lingerie retailer Victoria’s Secret has confirmed it will lease the BT2 store on Dublin’s Grafton Street from January 2017.
Victoria’s Secret #PerfectBody campaign
It will be the US retailer’s first store in the city centre and follows the opening of a Victoria’s Secret in Dublin Airport’s Terminal 2 in 2014.
The closure of BT2 will not result in any job losses, according to The Irish Independent, as the brands will move across the road to the main Brown Thomas department store.
Stephen Sealey, managing director of Brown Thomas, told the newspaper the closure was necessary because the two Grafton Street stores - Brown Thomas and BT2 - were “just too close”.
“You can see the logic of all this. It gives us the opportunity to bring the best of the brands from BT2 across here. That will give us a much better customer journey, because clearly it doesn’t really make sense to have to cross the road to get your jeans. It makes a lot more sense to invest in property that we own, rather than property we rent.”
He added that an impending rent review was also a factor in the decision. “To my mind, if a landlord is making more money than you are out of a store, it’s not really a great place to be.”
BT2 on Grafton Street stocks brands including Self-Portrait, Alexander Wang and Kate Spade. There are two other BT2 stores in Dublin, in Dundrum Town Centre and Blanchardstown Centre, which will remain open.