Under Armour to takeover French Connection Oxford Street flagship

In a changing of the guards, American sportswear giant Under Armour could soon take over French Connection's flagship store on London's Oxford Street.

The British retailer has been looking to offload the building according to the Telegraph, however with a lease expiry date of 2025, it is asking for a swap deal of 10 million pounds.

French Connection has been troubled for some time, however despite the company closing further stores, it saw pre-tax profits increase to 3.5 million pounds form 1.6 million pounds.

French Connection was founded in the early 1970s by Stephen Marks, who remains chief executive, it is based in London and its parent French Connection Group PLC is listed on the London Stock Exchange. The company became notorious for the use of the "fcuk" initialism in its advertising campaigns in the early 2000s, but has struggled to build its success in the 2010s.

Photo credit: French Connection Coven Garden, source: Wikipedia