Jane Norman is pulling out of its 262 Oxford Street store as it looks for a flagship in the area to showcase the brand to its growing international audience.
Jane Norman is currently in legals regarding the 262 Oxford Street site, which is expected to close within the next six to eight weeks. It is understood that the store was profitable. It is not known which retailer is set to take the store on.
The 52-store fashion retailer, which is owned by Edinburgh Woollen Mill, also operates a shop at 388 Oxford Street, and it is thought Jane Norman may also shutter this store, to instead focus on a single flagship. The retailer is thought to deem the existing stores, which each cover about 1,000 sq ft, too small.
Jane Norman is eyeing a 3,000 sq ft flagship to fit in its growing ranges and brands. A source told Retail Week that Jane Norman’s “unique” product has attracted international shoppers and the double-digit growth generated in some overseas regions has offset difficult trading in the UK.
Jane Norman has been reviewing its entire UK estate, while it has ambitious expansion plans internationally. In the next two years it is aiming to double its number of international stores and concessions to 400.
Jane Norman declined to comment.