America’s most famous women’s lingerie company, Victoria’s Secret, is expected to replace BT2 in one of Grafton Street's prime retail units.

The Irish Times reports this morning that the fashion firm is in advanced discussions to secure the high-profile south Dublin retail space - although a spokeswoman for Brown Thomas said that "no deal has been signed."

The group, which is reported to generate annualised global sales of more $7bn, opened a concession store at Dublin Airport’s Terminal 2 two years ago, but this would represent its first mainstream Irish outlet.

BT2, a sister company of Brown Thomas and located opposite that store on Grafton Street, is expected to secure compensation of close to €1.5m for the surrender of the lease, from the building’s owner, the property investment company IPUT.

Victoria’s Secret's annual fashion shows are the most watched fashion events in the world, attracting up to half a billion viewers, featuring performances from musicians including Taylor Swift, The Weeknd and Hozier.