Luxury goods maker Coach is to take over Jaeger‘s Regent Street flagship store as the British retailer starts moving out after more than 80 years on the site.
Jaeger and the Crown Estate, which owns the freehold to the 200-206 Regent Street location, have come to an agreement to sell the lease to Coach, which will relocate from its smaller store a few doors down at 76-78 Regent Street.
Coach, known for its leather goods and accessories, said it expects to open in the autumn of 2016 to mark its 75th anniversary.
Chief Exec Victor Luis said: “We are delighted to bring Coach and Stuart Weitzman together at this iconic location, while maintaining their unique identities with individual stores and spaces for each brand.”
Coach has been closing around 20% of its North American stores to better focus on locations in key markets and flagship stores rather than those in shopping centres.
Jaeger‘s departure comes at a turbulent time for the fashion retailer, which recently saw its boss Colin Henry step down ahead of the key Christmas trading period.
Its owner, investment firm Better Capital, is said to be exploring a sale of the company and said earlier this month that Jaeger’s value had been written down to £30m at the end of March, a net reduction of £26m during the year.