Victoria's Secret considers closing Grafton Street store in Dublin

Victoria's Secret is currently evaluating the future of its Grafton Street store in Dublin, which is the only location in the Republic of Ireland. The company is considering the possibility of subletting the space to another retailer, although no final decision has been reached yet. The store opened in 2017 under a 20-year lease agreement. In addition to the Grafton Street location, Victoria's Secret has secured a lease for a new unit at Opera Lane in Cork. The property is owned by Eamon Waters, who purchased it for €28 million in 2023. The UK operations of Victoria's Secret are managed by British Next Plc, which acquired a majority stake in the UK business in 2020. The potential closure of the Dublin store reflects broader challenges faced by retail businesses in urban areas, particularly in light of changing consumer habits and economic conditions.