New Balance aims to open debut UK store

US footwear label New Balance is set to open its debut store in the UK.

Scooping out a ideal location in the heart of London's prime retail sector, the label is understood to have signed a ten year lease for the 14,000 square foot building at 287-291 Oxford Street, according to Property Week.

Spanning three floors, the building is currently occupied by Avia Investors, but the agreement, which is due to be finalized next week, will see the New Balance store open sometime in 2017.

New Balance currently has a number of stockists throughout the UK, including Schuh, Size?, Dover Street Market and Sweatshop and operates a UK manufacturing facility in Cumbria, which employs over 210 members of staff and produces over 28,000 pairs of shoes per week.

90 percent of all New Balance's footwear made in the UK is sold to its European markets.