By  on June 24, 2010

LONDON — Pringle plans to shutter its New Bond Street store here and move into smaller premises in Mayfair, WWD has learned. Victoria’s Secret will take over the current Pringle space, on the corner of New Bond Street and Brook Street, to open its first flagship outside North America. The store is expected to span 16,500 square feet and open in 2012.

Pringle chief executive officer Mary-Adair Macaire said the brand was transferring the space to Victoria’s Secret because it was taking a “revised approach” to retail.

“We have been refining the Pringle of Scotland retail format in collaboration with the architect, Jamie Fobert. With this in mind, we are closing our Bond Street shop later this month and pursuing smaller locations that better feature our men’s and women’s wear collections as well as serving to showcase our collaborative projects,” she said.

Macaire added that Pringle would not be leaving central London altogether, and is looking for a smaller location. She said the company would continue scouting for space for a New York flagship store.

A Pringle spokesman said the location of the next London store would likely be near Savile Row or Conduit Street, and would be 1,080 to 1,620 square feet, compared with the New Bond Street store, which spans 5,200 square feet over two floors.

Pringle will also be launching its first e-commerce site in August and open its first concession at Harvey Nichols.

The company moved into 111-112 New Bond Street in fall 2002. The space formerly housed Emporio Armani. The brand also has a flagship and head offices on Sloane Street. Pringle was in the midst of refurbishing the New Bond Street unit, and the new store, designed by Fobert, was to be unveiled in September.

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