08/23/2012 09:55 EDT | Updated 08/23/2012 10:02 EDT

Victoria's Secret Vancouver: Lingerie Chain To Open In Massive Former HMV Location

Miranda Kerr walks the runway during the Victoria's Secret fashion show in New York, Wednesday, Nov. 9, 2011. Kerr is wearing The Fantasy Treasure Bra, designed by London Jewelers and valued at $2.5 million. (AP Photo/Brad Barket)

A lingerie industry titan is set to open in one of downtown Vancouver's largest retail spaces.

Victoria's Secret will open a new store in the former HMV location at Robson and Burrard Streets, the Vancouver Sun reported.

Victoria's Secret in downtown Vancouver will be the chain's second-largest store in North America, Business in Vancouver reports.

"This is a huge investment on their part," property manager Bob Nicholson told the paper. "It's a flagship store, so they're expecting big things from it. And I think it's going to be a huge addition to the downtown area."

Rumours of the Victoria's Secret Vancouver opening were reported last April by Business in Vancouver.

The magazine wrote at the time that Limited Brands Inc., the parent company for Victoria's Secret, La Senza and Bath and Body Works, was the only prospective tenant negotiating a lease for the 30,000-square-foot space that was occupied by HMV until January.

Reports of the new Vancouver location come as Statistics Canada says retail sales are dropping across the country.

The Canadian Press reported that retail sales fell by 0.4 per cent in June, offsetting a gain in May and deflating predictions that sales would increase by 0.1 per cent.

BMO Capital Markets economist Benjamin Reitzes partially blamed the decline on Canadians' overnight shopping trips to the United States, which reached a record 1.9 million trips in June.

Vancouver, however, seems to be bucking that trend, as numerous retail chains appear to be moving into the city including J. Crew and Forever 21, the Vancouver Sun reports.

Also on HuffPost

Victoria's Secret Collection