Selfridges is to invest £300m in improvements to its department store in London, including a new accessories hall.
The redevelopment of its iconic building on Oxford Street would rank as 'the biggest ever investment for a single project by a department store anywhere in the world'.
Selfridges, which opened in 1909, was acquired by Canadian billionaire Galen Weston in 2003 for a reported £628m.
The project will see a grand new entrance created on the eastern side of the building and will increase the amount of retail space inside the store by more than 10% to about 580,000 sq ft.
Also, parts of the building that are being used as office space will be transformed into new areas for shopping.
Selfridges is moving its office workers into Nations House, a neighbouring building it acquired last year for about £130m. A tunnel will be constructed to connect the two buildings.
The company said the project received full planning permission from Westminster council in April and works are due to start at the end of June with completion set for within five years time.